how long to keep tax records corporate
1 If you filed for a deduction for a bad debt or worthless security, the IRS suggests you keep your supporting tax records for 7 years. 2  Under these circumstances, you may generally wish to retain your supportive records for at least 7 years. 3  Employment Tax Records.ere are some basic record retention rules to think about for your business. 1  Business Income Tax Returns and Supporting Documents. 2  It makes sense to keep a final copy of your business income tax returns and related correspondence with the IRS permanently to help you prepare future or amended returns.