After filing your taxes you might be wondering how long you should keep your tax records and documents. Use these tips from the IRS to help you determine how long to keep your records.
According to the IRS, the length of time you should keep your tax documents depends on the type of document, the amount of expense and the event the document recorded. The IRS also recommends keeping copies of your filed tax returns. These will help you when filing future tax returns.
In general, the IRS recommends keeping your records that support an item of income or deductions on a tax return until the period of limitation – or the time period in which you can amend your tax return to claim a credit or refund -- for that return expires.
Here is a list from the IRS on which items and situations would require you to keep documents and how long you should keep them: