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Home›Taxes›How Long Do I Need to Keep My Tax Records?

How Long Do I Need to Keep My Tax Records?

By Our Editorial Team  |  Published October 26, 2022

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For some, it may be four years!

It may happen that you fall into the four-year category for keeping your tax records, and that is because if you are recently retired, you will have to maintain the employment tax records for a longer period of time. Generally speaking, you should be keeping the employment records when it comes to taxes for at least four years after the due date of the taxes or since you have paid them, whichever one is the later one if you have got an extension.

You should be keeping these records together with your employment papers, as they may come in handy when calculating certain sums and checking the tax status. So if you’ve recently retired, make sure you hold onto these papers for another few years.

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26 responses to “How Long Do I Need to Keep My Tax Records?”

  1. Larry G Turner says:
    November 27, 2022 at 5:39 pm

    I print out of my Taxes as filed. I typically use TurboTax and while they are saved in a TurboTax format, they should also be saved as a pdf which make them much easier to read/refer to. Each version of Turbotax seems to be unique, so it you wanted to read your taxes from 5 years ago, you would need to have that year version of TT installed making a pdf easier to review. Then I put the software used to do my taxes with a CD of my taxes return in the manilla envelope, mark the year on the outside and put the envelope in the box. I can usually get at least 2 envelope’s in each box. I also write the years of the taxes inside on the box with a magic marker.

    Reply
    • Joan jaeger says:
      April 5, 2023 at 5:19 pm

      I do my taxes with turbo, But I thought they save them for you in case you need them ! How do you get software so you can print and put on a cd ?

      Thank you for the info👍

      Reply
      • b lee says:
        August 13, 2024 at 10:56 pm

        You buy the CD program at a store instead of doing it online…
        I however … will never ever again use TurboTax. Twice now it has caused me issues with the IRS. The last one costing me 2years before they would process my taxes.

        Reply
  2. Sharon says:
    January 11, 2023 at 5:22 pm

    Very interesting

    Reply
  3. PHILIP SIMON says:
    January 15, 2023 at 1:03 pm

    After 10 years of keeping old tax records, I throw out the old records, and keep the new ones for ten years.

    Reply
    • Richard J Neyland says:
      March 5, 2024 at 7:41 am

      Be sure to shred the old records & not just throw them out, as they contain your Social Security numbers & other info that thieves would love to have — but you probably know that anyways.

      Reply
      • Cheri Taylor says:
        February 6, 2025 at 9:27 pm

        Easier than shredding is to place them in a basin of water for a few minutes then crumple them up and have fun making papier mache figures out of them.

        Reply
  4. verlaine Elinburg says:
    January 15, 2023 at 1:37 pm

    Love all information, having a Tax information PowerPoint Tea presentation for Seniors.

    Reply
    • Jeanine says:
      March 30, 2024 at 1:38 am

      Where is the information you loved? I am unable to find any specific information about what to keep and for how long.

      Reply
  5. EL says:
    January 15, 2023 at 6:08 pm

    Actually not enough information here to know what to keep and how long? What are the details to know how long one should keep tax returns and which ones?

    Reply
  6. Lois Chicoine says:
    April 5, 2023 at 12:56 pm

    You did not leave a more definite timeline? You just said what some people do. that was NO HELP.

    Reply
  7. Shirley says:
    April 6, 2023 at 1:24 am

    How long do I have to keep the Medicare and other health insurance bills/ payments?

    Reply
  8. gar feamer says:
    April 6, 2023 at 1:59 am

    Did no answer the question !!!!!!!!!!!!!!!!!

    Reply
  9. N T Qwerty says:
    April 6, 2023 at 2:07 am

    we were told 4 years..anything before that shredd them…we saved all of them took us days to shredd them all except the last 4 years everything else got shredded..

    Reply
  10. Sandy says:
    June 12, 2023 at 12:33 am

    Working for CPA firms for decades, it was the Company’s policy to store client’s tax returns and backup paperwork (on site) for 7 years unless you’ve been audited by either the Feds or the State. If audited, we stored their returns and back up paperwork (on site) forever

    Reply
  11. Carole Anne Sarah says:
    July 25, 2023 at 8:01 pm

    wasted my time. no information, just hearsay.

    Reply
  12. Bonnie Tapper says:
    February 5, 2024 at 11:09 am

    How long do you keep estate records from being and executor?

    Reply
  13. David Deel says:
    March 4, 2024 at 9:31 pm

    Hello. I have heard numerous different words on this very topic. As a rule of thumb,

    may I suggest Seven years. However may I suggest that you ask a lawyer to be sure.

    Your circumstance may vary. A good piece of advise always check it out. You see, to

    be truthful, it’s better to be safe and free. Don’t you agree???

    Reply
  14. sharon says:
    October 21, 2024 at 4:56 pm

    I recently had to apply for Medicare B. Because I am just retired, i used my employers plan because it was better. I had to go back and find my documents (tax returns) from the time i was 65 years. I had two other employers in the meantime and they could not give me what their plans were. And the information I needed. I tried the IRS. No luck. I needed to find returns for six years. IRS does not keep all tax returns. Only for three years. If you need something before that you are out of luck. My former HR dept. helped me get those the information I needed, , or I would have had to pay a fine to enroll in Medicare, because I could not proof of Insurance. That was 15 years of tax returns. I am 80.

    Reply
  15. Jesus Christ says:
    December 23, 2024 at 12:43 pm

    This was stupid, I gained nothing from this. But some people did, maybe I’m stupid 🤔.

    Reply
  16. JDW says:
    December 23, 2024 at 9:25 pm

    The 7-yeqr doesn’t apply to 401(k)’s, even if you have a plan created by a financial institution. Teh IRS expects you to keep copies of what the financial institution sends you, particularly if it is something you had to sign.

    Reply
  17. Frank says:
    December 25, 2024 at 12:33 pm

    You need to keep tax returns for 7 years. Not 4 not 10 7 years.

    Reply
  18. mike Harrington says:
    December 25, 2024 at 6:02 pm

    How long are you to save old tax returns ? straght answer only !!

    Reply
  19. Daniel Dick says:
    January 28, 2025 at 4:42 pm

    Keep all tax records 7 years. Every tax expert I have ever asked about this issue is the same….7 years!

    Reply
  20. Mary H Potter says:
    February 6, 2025 at 11:15 pm

    Great information. I wish it could be copied and then put in with specific purposes: income tax statements, donations, health bills, etc. I keep all my information together in file folders. I am sure there is a better way to do this.

    Reply
  21. Robet says:
    March 29, 2025 at 12:17 pm

    I use turbo tax because of rental property. I used for 10 years very happy. I was told by my cousin who was a IRS agent seven years.

    Reply

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