Old taxes how long keep

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Old taxes how long keep (by Beth [WI]) Jan 14, 2019 11:08 AM

Old taxes how long keep (by S i d [MO]) Jan 14, 2019 11:27 AM

Old taxes how long keep (by Landlord ofthe Flies [TX]) Jan 14, 2019 12:05 PM

Old taxes how long keep (by Beth [WI]) Jan 14, 2019 12:11 PM

Old taxes how long keep (by Bill [NC]) Jan 14, 2019 3:33 PM

Old taxes how long keep (by free [CA]) Jan 15, 2019 7:03 AM

Old taxes how long keep (by Ray-N-Pa [PA]) Jan 17, 2019 7:23 PM

Old taxes how long keep (by Beth [WI]) Posted on: Jan 14, 2019 11:08 AM
Message:

How long does one news to keep receipts/taxes from years past? I have plenty of old paper trail receipts that are 10 years and older. I don’t want to bother scanning, etc if I can just pitch them.

What about deeds, titles etc for paid off propeties?

--47.12.xxx.xx

Old taxes how long keep (by S i d [MO]) Posted on: Jan 14, 2019 11:27 AM
Message:

The IRS says:

Keep records for 3 years if situations (4), (5), and (6) below do not apply to you.

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.

Keep records for 6 years if you do not report income that you should report, and it is more than 25% of the gross income shown on your return.

Keep records indefinitely if you do not file a return.

Keep records indefinitely if you file a fraudulent return.

Keep employment tax records for at least 4 years after the date that the tax becomes due or is paid, whichever is later.

Source:

www.irs.gov/businesses/small-businesses-self-employed/how-long-should-i-keep-records

The rule of thumb my CPA told me is 7 years. I keep mine until I run out of space. Have them back to 2002 presently.

I keep titles, lien releases, deeds FOREVER or until the property is no longer mine. Even then, I have them all in digital format (PDF) backed up. --173.20.xxx.xxx

Old taxes how long keep (by Landlord ofthe Flies [TX]) Posted on: Jan 14, 2019 12:05 PM
Message:

My accountant also told me to keep ALL proof of payments made to SS for life. She's had to prove it with a client or two. --108.69.xxx.xxx

Old taxes how long keep (by Beth [WI]) Posted on: Jan 14, 2019 12:11 PM
Message:

Thanks Sid! I was remembering 7 years as a good rule of thumb. Too funny that the IRS tells you to keep indefinitely for a fraudulent tax return. --47.12.xxx.xx

Old taxes how long keep (by Bill [NC]) Posted on: Jan 14, 2019 3:33 PM
Message:

I keep mine forever. IRS sent me a letter one year saying I owed them almost $9,000. Took records to IRS office and proved I did not. Got letter about 2 weeks later that my tax liability was $00.00 --75.138.xxx.xxx

Old taxes how long keep (by free [CA]) Posted on: Jan 15, 2019 7:03 AM
Message:

There are horror stories about what the IRS is demanding to see years later.

There was a Reader's Digest story about the IRS exhuming a body that was in the ground for years, to verify that the man was really dead. --99.59.x.xxx

Old taxes how long keep (by Ray-N-Pa [PA]) Posted on: Jan 17, 2019 7:23 PM
Message:

I just burned 2012 documents this past week --72.23.xxx.xx

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Old taxes how long keep

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