Tax Return Retention Guide

Filing your tax papers away can be a chore. Perhaps you need to make a clean sweep of the file cabinet.

The IRS advises that you keep your tax returns forever, but much of the supporting documentation can be destroyed after the statute of limitations for the tax year is over (three years in most cases). You can use the following guide to help make your decision.

1 YEAR

Copies (misc.)

Correspondence (routine)

Duplicate deposit slips

Stenographer’s notebooks

3 YEARS

Appointment books

Correspondence (general)

Employee personnel records (after termination)

Insurance policies (expired)

Internal reports (misc.)

Petty cash vouchers

7 YEARS