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You probably think you know how long to retain tax returns, because you've heard the standard answer. But the standard answer is wrong.

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In the immortal words of Reverend Lovejoy, "short answer, yes with an if. Long answer, no with a but." This is going to be one of those articles.

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Generally, you must keep your records that support an item of income, deduction or credit shown on your tax return until the period of limitations.

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Do you know how long to keep tax records? Tax experts explain best practices for maintaining your documents to avoid problems with the IRS.

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Personal pay and tax records you must keep to fill in a Self Assessment tax return .

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You must keep your records for at least 5 years after the 31 January submission deadline of the relevant tax year. HM Revenue and Customs (HMRC) may.

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The IRS generally recommends keeping copies of tax returns and supporting documents at least three years. Employment tax records should.

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How long to keep your records. Generally, you must keep your written evidence for five years from the date you lodge your tax return or if you.

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I find that in the case of tax returns, many people are afraid to discard them or confused as to how long they should keep them. The result is that.