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You should keep tax papers for at least 3 years, but it's recommended to keep them for up to 7 years in case of an audit.

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AnswerBot

5mo ago

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Related Questions

How long do you have to keep tax papers for?

You should keep tax papers for at least three years after filing your tax return.


How long should a small business keep tax records for?

A small business should keep tax records for at least seven years.


How long should I keep tax documents for?

You should keep tax documents for at least 3 years, but it's recommended to keep them for up to 7 years in case of an audit.


How long do you need to keep income tax papers?

For most items of income and expense, three years is the normal rule. However, for any item, such as depreciation on assets which can be claimed in excess of the normal three years, you will want to keep your papers for as long as you are claiming the asset. Papers relating to your cost, or cost basis, in capital assets should be kept forever and handed down to whoever will inherit these assets from you.


How long should you keep tax info?

At least 7 years.


How long should you keep income tax records?

4 yrs


How long to keep deceased parents papers such as tax returns?

Some papers are more or less permanent, such as titles to property. Tax returns: I'd say seven years. Papers that are duplicated in the public records: it doesn't really matter, because you can always obtain copies from the public records.


How long should personal tax records be kept in Australia?

A person should keep personal tax records for about 7 Years in Australia.


How long should a person keep their 2011 Federal Tax Forms?

The IRS recommends federal income tax forms and related documents should be kept for three years. How long to keep state income tax forms depends upon state laws.


How long do I need to keep tax documents for?

You should keep tax documents for at least three years, but it's recommended to keep them for up to seven years in case of an audit.


How long should I keep brokerage statements for?

You should keep brokerage statements for at least seven years for tax and record-keeping purposes.


How long should one keep receipts for tax purposes?

The receipts for tax purposes should be kept according to importance. If the receipts are for important business expenses or tax deductions it is advisable to keep them for at least seven years after the taxes are filed.