How Long Do you maintain Records for the IRS?

Maintaining Records for the IRS

We are often asked how long to maintain records for tax purposes. Time periods vary depending on the situation and what they may represent. The short answer, according to the Internal Revenue Service, is:

"Keep records for 3 years from the date you filed your original return or 2 years from the date you paid the tax, whichever is later, if you file a claim for credit or refund after you file your return. Keep records for 7 years if you file a claim for a loss from worthless securities or bad debt deduction." May 13, 2016

However, there are additional rules and regulations “depend[ing] on the action, expense, or event which the document records.” For further information, and a short summary on the rules, please visit the IRS page that further explains how long to maintain your records.


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