The April tax filing deadline has passed. If you filed your return on time, you may be wondering what tax-related records you need to retain. The IRS’s statute of limitations for auditing a tax return is generally three years from the return’s due date or the filing date, whichever is later. So keep the documents that support your income, deductions and credits for at least three years after filing your return. Essential documents to retain include Form W-2, “Wage and Tax Statement”; series 1099 forms such as Form 1099-NEC, “Nonemployee Compensation”; Form 1098, “Mortgage Interest Statement”; and receipts from property tax payments and charitable donations. Contact us with questions.
