How Long Do You Need to Keep Your Tax Returns?
One of the most often questions I get from clients is how long to keep their tax returns and records. Most people think the proper answer is seven years. But, it is a little more complicated than that. That is because those forms, receipts, canceled checks, and other documents could be needed later. The IRS generally has three years after the due date of your return (or the date you file it, if later) to initiate an audit — that hasn't changed.
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