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How Long To Keep Your Tax Records Let’s go in descending order: Forever : If you never filed a return, or if you filed a fraudulent return (neither of which is recommended)
If for some reason you opted to forgo filing a tax return in a given year, the IRS website recommends keeping all financial records and documents related to the year in question indefinitely.
There are no federal guidelines indicating one should keep their tax records forever. However, Wybar said there may be other reasons to retain these documents indefinitely.
Once you've submitted your tax return to the Internal Revenue Service each year, the last thing you probably want to think about is how to store your tax records. But making these arrangements is...
The general rule is to keep your tax records for three years, but there are several important exceptions for when you might need to keep your tax records for a longer period as a taxpayer.
A retention period (associated with a retention schedule or retention program) is an aspect of records and information management (RIM) and the records life cycle that identifies the duration of time for which the information should be maintained or "retained", irrespective of format (paper, electronic, or other). Retention periods vary with ...