2007-01-04 16:37:28 · 6 answers · asked by Eddie C 2 in Business & Finance ➔ Taxes ➔ United States
three years
2007-01-04 17:06:04 · answer #1 · answered by Anonymous · 1⤊ 0⤋
The IRS has three years from the due date of your return to audit it. For example, your 2002 return was due by April 15, 2003. The IRS had three years, or until April 15, 2006 to audit that return.
In addition to this general rule there is also a six year statute of limitations if you substantially underreported your income. A substantial under statement of income is where you failed to report 25% or more of your gross income.
2007-01-04 22:55:45 · answer #2 · answered by waggy_33 6 · 0⤊ 0⤋
you actually favor to keep receipts for any prices that you claimed on your earnings tax. the reason you keep the receipts is in case you get audited. i have not heard of folk conserving receipts hoping to get the tax lower back on their purchases. you may write off medical receipts in case you document a Sch. A along with your taxes. Even then you truthfully can really declare a particular quantity. those that are self-employed have extra write offs and for this reason favor to keep extra receipts.
2016-12-01 20:39:18 · answer #3 · answered by ? 4 · 0⤊ 0⤋
I work at a prestigious accounting firm...and we advise our clients to maintain their documents for at least 10 years...However, we keep them forever.
But usually, if the government were to do an audit...it would only request the past 10 years.
2007-01-04 16:40:53 · answer #4 · answered by mailjunkie123 3 · 0⤊ 2⤋
Seven years. Always they can audit you anytime up to seven yrs.
2007-01-04 16:40:56 · answer #5 · answered by MISS-MARY 6 · 0⤊ 1⤋
indefenitaly(my advice)
2007-01-05 01:47:39 · answer #6 · answered by alikmal 2 · 0⤊ 0⤋