how far back do i need to keep tax records
Tips for Managing Your Tax Records. After you file your taxes, you will have many records that may help document items on your tax return. You will need these documents should the IRS select your return for examination. Here are five tips from the IRS about keeping good records. Normally, tax records should be kept for three years. Some documents â such as records relating to a home purchase or sale, stock transactions, IRA and business or rental property â should be kept longer. In most cases, the IRS does not require you to keep records in any special manner.