Tax Questions
 

How long do you have to keep IRS records?

 

Because of the statute of limitations, the IRS can audit your tax return filed in the previous years. Therefore, you have to keep IRS records for years even after you have filed tax returns for those years.

 
How long do you have to keep IRS records?

Under the general rule, the IRS may assess an additional tax liability against a taxpayer within three years of the tax filing of the income tax return.

How long do you have to keep IRS records

 

I filed my tax return early, how long do I have to keep IRS records?

If you file your tax return early, your 3 years starts from the due date of the tax return (usually April 15). Your early filed return is considered to have been filed on the due date.

 

I filed my tax return late, how long do I have to keep the IRS records?

If you file your tax return late, then the 3 years starts from the date which the IRS receives your tax return.

 

Exceptions to the 3 year statute of limitation rule

If the taxpayer omits an amount of gross income in excess of 25% of the gross income reported on the tax return, the statute of limitation increases to 6 years and you will have to keep the IRS records for 6 years instead of 3 years.

If no tax return is filed then there is no statute of limitations on assessments of tax liability. If a fraudulent tax return is filed there is also no statute of limitations. So, you will have to keep your IRS records indefinitely.