Is There A Six-Year Rule For Keeping Income Tax Records?
Автор: Asian American CPA
Загружено: 2026-01-31
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Are you confused about how long to keep your tax documents? Many people ask about a specific "six-year rule," but the truth is, tax record retention can be more nuanced than that.
In this video, you'll discover:
► The general IRS recommendation for keeping tax records is three years.
► When the specific six-year rule applies, particularly if you've underreported income.
► That there's no statute of limitations for fraudulent returns or if you fail to file.
► How long to retain records related to property, like purchase and improvement documents.
► A practical seven-year rule of thumb to cover most situations, including potential state tax audits.
#TaxRecords, #IRSRules, #TaxCompliance, #FinancialLiteracy, #TaxTips, #AsianAmericanCPA
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