2007-01-23 07:02:57 · 7 answers · asked by Moe 1 in Business & Finance ➔ Taxes ➔ United States
You only need to keep your records for three years. These are the records that support what you put on your tax return. I always recommend that my clients keep copies of the actual tax returns indefinitely. The IRS destroys their copies after ten years and if you are in their system as never having filed a year you will need to be able to prove that you actually filed. By keeping copies of the returns indefinitely you will always have a copy of a return to prove you filed no matter how many years ago the IRS claims you didn't file.
2007-01-23 08:05:22 · answer #1 · answered by waggy_33 6 · 0⤊ 0⤋
Actually the statute of limitations runs three years from the date the return is due or filed.
There are other reasons to keep a tax return but only the past three returns need to be kept. Even if you don't keep them you can request a copy of the records the IRS has.
2007-01-23 07:35:18 · answer #2 · answered by Nusha 5 · 0⤊ 0⤋
The IRS recommends 7 - 10 years.
2007-01-23 07:10:57 · answer #3 · answered by Enchanted 3 · 0⤊ 0⤋
while you're audited, you're able to save information going back atleast 5 years. so a techniques as being Audited, it happens at random and given which you raised a crimson flag interior the eyes of the IRS on a greater contemporary tax return.
2016-12-16 11:44:23 · answer #4 · answered by ? 4 · 0⤊ 0⤋
Current plus 3 previous. The IRS audit athority ends there.
2007-01-23 08:07:28 · answer #5 · answered by Anonymous · 0⤊ 0⤋
At least 7 years previous.
2007-01-23 07:34:40 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Seven years is recommended.
2007-01-23 07:10:42 · answer #7 · answered by lyyman 5 · 0⤊ 0⤋