How long should personal income taxes be kept?

Answer On One Hand: IRS Only Audits Three Previous YearsThe Internal Revenue Service (IRS) has a statute of limitations that prevents it from auditing a tax return after three years. Once April 15, 2011 c... Read More »

Top Q&A For: How long should personal income taxes be kept

How long should receipts for taxes be kept?

Keep all tax records, including receipts for deductions taken on your tax return, for three years. After this, you may destroy the receipts and tax records.Source:Keeping Federal Income Tax Returns

How long should income tax return copies be kept?

For more information go to the website and use the search box for How long should I keep records?The length of time you should keep a document depends on the action, expense, or event the d... Read More »

How to Report a Loss on a Stock Sale on Your Personal Income Taxes?

Stocks are a common investment vehicle. Stocks can help fund retirement, college educations and many other dreams and desires. Stocks can gain value over a period of time, but they can also just as... Read More »

How long should tax papers be kept?

On One Hand: Three-Year RuleThe most important rule to follow when it comes to keeping your tax records is the Three Year Rule. This rule of thumb says you should keep your tax records for three ye... Read More »