how long should you keep tax papers
The IRS recommends keeping records for â3 years from the date you filed your original return or 2 years from the date you paid the tax, whichever is later.â You should also keep records for three years if you owe additional tax and the situations described in sections 3 and 4 below donât apply.f you file a return and claim a loss from worthless securities or take a deduction for a bad debt, you should keep your income tax papers for seven years.