The easy answer is until the statute of limitations expires for that tax return. The IRS has 3 years from the date you filed your return to assess any additional taxes you owe. If you failed to report 25% of your taxable gross income, the IRS has 6 years from the filing date to assess additional taxes.
How long to keep tax records?
How long to keep tax records,Tax returns, pension summaries, medical records? June Walker, tax consultant to indies, independent contractors, entrepreneurs, …IRS often focuses on four audit areas. Keeping accurate records is the best way you can protect yourself in the event of an …
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How Long to Keep Tax Records
How Long to Keep Tax Records. Many taxpayers are confused about how long they should keep tax records. The term “tax records” refers to your tax returns and …you will find a wide variety of information about taxes. We used to offer services to recover overpaid federal income taxes, but no longer do.
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How Long to Keep Tax Records
IRS Tax Audits. A guide to how long you should keep tax records. … Before doing so, you need to make sure it will not be required down the road. …Knowing what information to keep and how long to keep it can help you organize your taxes and probably save space in a closet …
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