If you've been honest with your taxes or small errors, it's 3 years. If there was a large error in your income, about 25% off, it's 6 years. If there was fraud involved, the IRS has forever to audit you.
2007-04-16 09:38:48
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answer #1
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answered by Anonymous
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Look below, Pepsilime nailed it. I've always learned "Keep your records for 7 years" (which aligns with his advice that they can go back 6). And "they can go back forever if they find something wrong", so keep 'em forever if you're a fraudster or if you play high-stakes enough that you might ever be considered one. I'm quite sure Martha Stewart never thought of herself as a fraudster, I'm hoping she kept all her old tax records. Given how easy it is to store scans of documents nowadays, I see no reason not to keep everything forever.
*laugh* cashing your refund check does NOT protect you, much the opposite it hangs you. Hypothetically, suppose you totally lied on your 1040, said you bought a house when you didn't. They wouldn't catch it right away, you'd get a fat refund check. Eventually, though, they'll catch up with you... and it'd be worse for you if you cashed the check rather than returning it with a correct 1099-X.
2007-04-16 16:36:11
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answer #2
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answered by Wolf Harper 6
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When you're 3 years past the filing deadline or the date actually filed, whichever is later, and haven't heard from the IRS it's fairly safe to assume that you won't be audited for that return.
2007-04-16 16:36:44
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answer #3
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answered by Bostonian In MO 7
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You don't I got audited twice in 2005.
2007-04-16 19:05:26
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answer #4
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answered by Anonymous
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When you receive a writ of habeus corpus.
2007-04-16 16:31:03
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answer #5
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answered by bold4bs 4
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When your check to the IRS clears or when their refund comes to you.
2007-04-16 16:28:40
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answer #6
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answered by Melissa M 3
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When you die.
2007-04-16 16:34:20
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answer #7
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answered by Wayne Z 7
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