HOME LAW INSURANCE


       
Find a Lawyer
Browse Tax Law
Tax Law Home Page

Resources
Tax Lawyers
Tax Law Forum
Articles & FAQs
   Corporate Tax Law
   Estate Tax Law
   Gift Tax Law
»Income Tax Law
Tax Law - Income Tax Law - General Income Tax Law Questions

  Page 21 of 63

What records do I need to keep and for how long?
To be safe, keep your income tax returns indefinitely, since they can be your paper trail on the valuation of basis of assets that are subsequently sold. Old supporting documents (receipts, canceled checks, credit cards, and so forth) should be kept six years. That’s because the IRS can go back three years from the filing date to audit your records and return and impose additional tax. In some cases, the IRS can audit up to six years after filing if income is underreported by 25% or more or if there is suspected fraud.

Free Tax Debt Analysis!
« View All General Income Tax Law Questions Pages Next Page »
« Post Your Case  






Get Legal Forms
Download 36,000+ forms
Law Forums
Search over 600,000 topics and answers in our law forums.
HACKER SAFE certified sites prevent over 99.9% of hacker crime. State Law Center | Legal Links | Site Map | Privacy Policy | Media | About Us | Contact Us

FreeAdvice® has been providing millions of consumers with outstanding advice, free, since 1995. While not a substitute for personal advice from a licensed professional, it is available AS IS, subject to our disclaimer and conditions of use. FreeAdvice®, AttorneyPages®, ExpertPages®, and LegalSoapbox™ are units or affiliates of Advice Company. All Rights Reserved © 1995-2008