Q. How long should I keep a copy of my return and other tax documents?
A. A general rule is to
keep your return for three years after filing. However, depending on your
circumstances the IRS expects you to keep your return (and related records) for
up to seven years. That said, if the IRS believes you have filed a fraudulent
return, there is no limit to how many years back they may audit you. So, unless
you need the space, I recommend you keep your return and supporting
documentation for as long as possible.
Joseph Cohen is the attorney at Cohen Counsel LLC.
Cohen Counsel offers business, divorce, estate planning, real estate and other
legal services to clients throughout the Metro Milwaukee
area from its office at 2829 N Dr. Martin Luther King Jr. Dr., Milwaukee, WI
53212 (just South of the intersection of MLK and Locust).