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Question: Old Filed Tax Returns

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MrsSchwags
Soccer Baseball Lax Mom

Member since 10/05

11240 total posts

Name:
Jennifer

Question: Old Filed Tax Returns

Legally how long do I need to save them for? I think I remember 7 years.

Message edited 1/22/2008 4:51:44 PM.

Posted 1/22/08 4:37 PM
 
Long Island Weddings
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GoldenRod
10 years on LIF!

Member since 11/06

26792 total posts

Name:
Shawn

Re: Question: Old Filed Tax Returns

http://www.irs.gov/individuals/article/0,,id=110571,00.html

http://www.irs.gov/faqs/faq-kw31.html

You can get copies of filed returns from the IRS.


More info:
http://local.google.com/answers/threadview?id=267794

PDF from the IRS:
http://www.irs.gov/pub/irs-pdf/p552.pdf

http://www.mondaq.com/article.asp?article_id=51488

An arguably good rule of thumb for keeping tax records is to add a year to the IRS statute of limitations period. Using this approach, you would retain your income tax records for a minimum of four years (three-year general statute of limitations period plus one year), but it may be more prudent to retain them for seven years, which is what the IRS generally, yet informally, recommends.

Posted 1/23/08 8:49 AM
 

Lisa
I'm a PANK!!!

Member since 5/05

22334 total posts

Name:
Professional Aunts No Kids

Re: Question: Old Filed Tax Returns

I have all of my returns since I have been working....I dont feel comfortable throwing them away.

Posted 1/23/08 8:55 AM
 

Jennifer
Happy

Member since 5/05

4230 total posts

Name:
.

Re: Question: Old Filed Tax Returns

You can throw them out after 7 years but keep in mind the IRS can go back as far as they want. so I keep them all.

Posted 1/23/08 10:11 AM
 

JodiBabe
Married for 9 yrs!!!!!!

Member since 5/05

6672 total posts

Name:
Jodi

Re: Question: Old Filed Tax Returns

Can I throw out tax returns of someone who is deceased since 1996?

Posted 1/23/08 11:32 AM
 

Kara
Now Zagat Rated!

Member since 3/07

13217 total posts

Name:
They call me "Tater Salad"

Re: Question: Old Filed Tax Returns

Posted by JodiBabe

Can I throw out tax returns of someone who is deceased since 1996?



I'd probably still shred them, not just throw them out, even though they've been deceased a while.

Posted 1/23/08 11:39 AM
 

JodiBabe
Married for 9 yrs!!!!!!

Member since 5/05

6672 total posts

Name:
Jodi

Re: Question: Old Filed Tax Returns

Posted by Kara

Posted by JodiBabe

Can I throw out tax returns of someone who is deceased since 1996?



I'd probably still shred them, not just throw them out, even though they've been deceased a while.



of course, I'd never REALLY just throw them out. I shred EVERTHING!!!!!

Posted 1/23/08 12:33 PM
 

bomb-blast
bye bye

Member since 11/06

1327 total posts

Name:
Leo

Re: Question: Old Filed Tax Returns

By the way, if you've lied or cheated on a tax return, there is no statute of limitations...the IRS can come after you whenever.

Posted 1/23/08 12:37 PM
 
 

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