{"id":253,"date":"2022-10-03T01:25:21","date_gmt":"2022-10-03T01:25:21","guid":{"rendered":"https:\/\/0c8fb60.netsolhost.com\/en\/?page_id=253"},"modified":"2022-11-18T02:55:45","modified_gmt":"2022-11-18T02:55:45","slug":"recordkeeping","status":"publish","type":"page","link":"https:\/\/www.usataxhelp.com\/en\/about-you\/recordkeeping\/","title":{"rendered":"Recordkeeping"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">How Long to Keep Records<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>How Long Do I Keep Records<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Our standard answers\u2026<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>3 years is the Statute of Limitations for audit purposes&nbsp;<em>(from the due date of the return or the filing, whichever is later).<\/em><\/li><li>4 years for Employee Records<\/li><li>6 years if there is a 25% understatement of income&nbsp;<em>(accidental, misinterpretation of tax law, bookkeeping error, involved in one of those too good to be true tax shelters).<\/em><\/li><li>7 years for Loss from Worthless Securities or Bad Debt deductions<\/li><li>Fraud is forever.<\/li><li>If you still have the asset, you need the records.&nbsp;&nbsp;<em>(i.e.&nbsp;&nbsp;You sell a building you&#8217;ve owned for the last 20 years.&nbsp;&nbsp;The sale is within the Statute of Limitations.&nbsp;&nbsp;Anything related to that sale must be provable &#8211; original cost, improvements).<\/em><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The best information is available here by clicking on this IRS information page\u2026<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"http:\/\/search.irs.gov\/search?q=recordkeeping&amp;output=xml_no_dtd&amp;proxystylesheet=irs_portals_frontend&amp;client=irs_portals_frontend&amp;oe=UTF-8&amp;ie=UTF-8&amp;num=10&amp;ud=1&amp;exclude_apps=1&amp;site=default_collection&amp;numgm=5&amp;requiredfields=-archive%3A1\" target=\"_blank\" rel=\"noreferrer noopener\">IRS &#8211; How Long Do I Keep Records <\/a>(Rules are different depending\u2026.)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>How Long to Keep Records How Long Do I Keep Records Our standard answers\u2026 3 years is the Statute of Limitations for audit purposes&nbsp;(from the due date of the return or the filing, whichever is later). 4 years for Employee Records 6 years if there is a 25% understatement of income&nbsp;(accidental, misinterpretation of tax law, [&#8230;]<\/p>\n<p><a class=\"understrap-read-more-link\" href=\"https:\/\/www.usataxhelp.com\/en\/about-you\/recordkeeping\/\">Read More&#8230;<span class=\"screen-reader-text\"> from Recordkeeping<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":43,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page-templates\/fullwidthpage.php","meta":{"footnotes":""},"class_list":["post-253","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.10 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Recordkeeping - USA Tax Help<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.usataxhelp.com\/en\/about-you\/recordkeeping\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Recordkeeping - USA Tax Help\" \/>\n<meta property=\"og:description\" content=\"How Long to Keep Records How Long Do I Keep Records Our standard answers\u2026 3 years is the Statute of Limitations for audit purposes&nbsp;(from the due date of the return or the filing, whichever is later). 4 years for Employee Records 6 years if there is a 25% understatement of income&nbsp;(accidental, misinterpretation of tax law, [...]Read More... from Recordkeeping\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.usataxhelp.com\/en\/about-you\/recordkeeping\/\" \/>\n<meta property=\"og:site_name\" content=\"USA Tax Help\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-18T02:55:45+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.usataxhelp.com\/en\/about-you\/recordkeeping\/\",\"url\":\"https:\/\/www.usataxhelp.com\/en\/about-you\/recordkeeping\/\",\"name\":\"Recordkeeping - USA Tax Help\",\"isPartOf\":{\"@id\":\"https:\/\/www.usataxhelp.com\/en\/#website\"},\"datePublished\":\"2022-10-03T01:25:21+00:00\",\"dateModified\":\"2022-11-18T02:55:45+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.usataxhelp.com\/en\/about-you\/recordkeeping\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.usataxhelp.com\/en\/about-you\/recordkeeping\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.usataxhelp.com\/en\/about-you\/recordkeeping\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.usataxhelp.com\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"You\",\"item\":\"https:\/\/www.usataxhelp.com\/en\/about-you\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Recordkeeping\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.usataxhelp.com\/en\/#website\",\"url\":\"https:\/\/www.usataxhelp.com\/en\/\",\"name\":\"USA Tax Help\",\"description\":\"Young &amp; Company - USA Tax Help &amp; Advice, Accounting, Tax and Financial Services\",\"publisher\":{\"@id\":\"https:\/\/www.usataxhelp.com\/en\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.usataxhelp.com\/en\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.usataxhelp.com\/en\/#organization\",\"name\":\"USA Tax Help\",\"url\":\"https:\/\/www.usataxhelp.com\/en\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.usataxhelp.com\/en\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.usataxhelp.com\/wp-content\/uploads\/2022\/09\/cropped-logo-1.png\",\"contentUrl\":\"https:\/\/www.usataxhelp.com\/wp-content\/uploads\/2022\/09\/cropped-logo-1.png\",\"width\":311,\"height\":92,\"caption\":\"USA Tax Help\"},\"image\":{\"@id\":\"https:\/\/www.usataxhelp.com\/en\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Recordkeeping - USA Tax Help","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.usataxhelp.com\/en\/about-you\/recordkeeping\/","og_locale":"en_US","og_type":"article","og_title":"Recordkeeping - USA Tax Help","og_description":"How Long to Keep Records How Long Do I Keep Records Our standard answers\u2026 3 years is the Statute of Limitations for audit purposes&nbsp;(from the due date of the return or the filing, whichever is later). 4 years for Employee Records 6 years if there is a 25% understatement of income&nbsp;(accidental, misinterpretation of tax law, [...]Read More... from Recordkeeping","og_url":"https:\/\/www.usataxhelp.com\/en\/about-you\/recordkeeping\/","og_site_name":"USA Tax Help","article_modified_time":"2022-11-18T02:55:45+00:00","twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.usataxhelp.com\/en\/about-you\/recordkeeping\/","url":"https:\/\/www.usataxhelp.com\/en\/about-you\/recordkeeping\/","name":"Recordkeeping - USA Tax Help","isPartOf":{"@id":"https:\/\/www.usataxhelp.com\/en\/#website"},"datePublished":"2022-10-03T01:25:21+00:00","dateModified":"2022-11-18T02:55:45+00:00","breadcrumb":{"@id":"https:\/\/www.usataxhelp.com\/en\/about-you\/recordkeeping\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.usataxhelp.com\/en\/about-you\/recordkeeping\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.usataxhelp.com\/en\/about-you\/recordkeeping\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.usataxhelp.com\/en\/"},{"@type":"ListItem","position":2,"name":"You","item":"https:\/\/www.usataxhelp.com\/en\/about-you\/"},{"@type":"ListItem","position":3,"name":"Recordkeeping"}]},{"@type":"WebSite","@id":"https:\/\/www.usataxhelp.com\/en\/#website","url":"https:\/\/www.usataxhelp.com\/en\/","name":"USA Tax Help","description":"Young &amp; 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