HOW LONG TO SAVE TAX RECORDS

  • The greatest risk of an IRS audit is in the 3 years after the tax returns due date.
  • The IRS can extend that audit time by 3 years if it suspects an under-reporting of income by 25% or more for a period of 6 years.
  • There is a growing trend to digitize all the records to make safe keeping in the future easier and more accessible.

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