How long to keep tax records
The IRS can look back at a return for a set number of years, and you need the records behind it for that long. Here's how long each kind of record should be kept, and what we suggest you hold on to for longer.
Draft, figures being verified: Juliette or Fred checks this guide against the IRS source before it goes live.
The IRS periods
The period starts from the date you filed the return, or from the due date if you filed early. These are the IRS's own periods for keeping the records that support a return.
| 3 years | Most records, if none of the situations below applies. |
|---|---|
| 3 years from the date you filed your original return or 2 years from the date you paid the tax, whichever is later | Records for a return where you claim a credit or refund after filing. |
| 6 years | If you leave off income that is more than 25% of the income shown on the return. |
| 7 years | Records for a deduction for a bad debt or for securities that became worthless. |
| indefinitely (no time limit) | If you don't file a return, or file a fraudulent one. |
| at least 4 years after the date the tax becomes due or is paid, whichever is later | Payroll and employment tax records, if you have employees. |
What we suggest keeping longer
- Your tax returns themselves. We keep copies of the returns we prepare, but it's worth keeping your own, permanently.
- Records for property you own, such as a house, rental property or investments, until the period runs out for the year you sell it. You need them to work out the gain or loss.
- Records for business equipment and vehicles you depreciate, for as long as you own them and then until the period runs out for the year you sell or scrap them.
- Virginia returns and records, for at least as long as the matching federal ones.
Keeping them safely
Paper or scanned copies both work, as long as you can read and print them. Shred anything with a Social Security number once you no longer need it.
Periods last checked against the IRS source on 7 October 2026.
Source for the periods on this page
- How long should I keep records? (6 figures), checked 7 October 2026
Not sure what to keep?
If you're clearing out old files or closing a business, call us and we'll tell you what to hold on to.