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MrsSchwags
Soccer Baseball Lax Mom
Member since 10/05 11240 total posts
Name: Jennifer
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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.
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Posted 1/22/08 4:37 PM |
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Long Island Weddings
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GoldenRod
10 years on LIF!
Member since 11/06 26792 total posts
Name: Shawn
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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.
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Posted 1/23/08 8:49 AM |
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Lisa
I'm a PANK!!!
Member since 5/05 22334 total posts
Name: Professional Aunts No Kids
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Re: Question: Old Filed Tax Returns
I have all of my returns since I have been working....I dont feel comfortable throwing them away.
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Posted 1/23/08 8:55 AM |
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Jennifer
Happy
Member since 5/05 4230 total posts
Name: .
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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.
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Posted 1/23/08 10:11 AM |
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JodiBabe
Married for 9 yrs!!!!!!
Member since 5/05 6672 total posts
Name: Jodi
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Re: Question: Old Filed Tax Returns
Can I throw out tax returns of someone who is deceased since 1996?
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Posted 1/23/08 11:32 AM |
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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name: They call me "Tater Salad"
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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.
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Posted 1/23/08 11:39 AM |
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JodiBabe
Married for 9 yrs!!!!!!
Member since 5/05 6672 total posts
Name: Jodi
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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!!!!!
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Posted 1/23/08 12:33 PM |
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bomb-blast
bye bye
Member since 11/06 1327 total posts
Name: Leo
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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.
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Posted 1/23/08 12:37 PM |
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