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Posted: 12/27/2005 5:29:46 PM EDT


I've heard 5 years I've heard longer, I cant find it on the IRS website anybody know for sure?
Link Posted: 12/27/2005 5:36:57 PM EDT
I heard 7 but keep them 8. Corps are longer I believe.h
Link Posted: 12/27/2005 5:37:37 PM EDT
8 years

ok, 7 years but most people are not aware that the IRS considers this to be 2004 (2005 W2's and returns haven't been filed yet) see what I mean?
Link Posted: 12/27/2005 5:38:19 PM EDT
Your supposed to keep them?
Link Posted: 12/27/2005 5:42:12 PM EDT

Originally Posted By pale_pony:
8 years

ok, 7 years but most people are not aware that the IRS considers this to be 2004 (2005 W2's and returns haven't been filed yet) see what I mean?




87 YEARS !
Link Posted: 12/27/2005 5:42:12 PM EDT
the day after I cash the refund check
Link Posted: 12/27/2005 5:44:10 PM EDT
I keep mine for 5 years

Found this link clarkhoward.com/shownotes/category/7/18/209/387/

What records to keep:
# Tax returns, keep forever
# Tax return documentation, for six years
# Contracts, forever
# Real estate records, forever
# Last pay stub of a job if you leave that job
# Last pay stub of the year for your current job
# All mortgage payment checks (statements), until mortgage is paid off
# All student loan payments, until loan is paid off
# Car loan payment stubs, until the car is paid off
# Cancelled checks, for 7 years
# Bank deposit slips, for 7 years
# Bank statements, for 7 years
# Home improvement records, ownership period plus 7 years
# Investment records, ownership period plus 7 years

What records to toss:
# Credit card statements that are more than three years old
# Past insurance statement
# Old utility bills, except the most recent one from your old address if you've moved
# Recently paid bills (statements), once you have something saying they've been paid

More searching led me to this:

IRS .pdf
Link Posted: 12/27/2005 5:46:10 PM EDT
Some searches on this have taught me that the irs makes you prove you are inocent, until you do so you are guilty.

I know people who keep nothing since lots of stuff can be re-sent from their employer, the bank, the credit card company, and whoever else they use.

I know folks who have everything from as far back as they started working and had to do this paperwork themselves instead of the parents claiming them as a dependant.

I have no answer.
Link Posted: 12/27/2005 5:46:56 PM EDT
Time to start dumping paper.....
Link Posted: 12/27/2005 5:47:17 PM EDT

Originally Posted By JB69:

Originally Posted By pale_pony:
8 years

ok, 7 years but most people are not aware that the IRS considers this to be 2004 (2005 W2's and returns haven't been filed yet) see what I mean?




87 YEARS !




This Post Should Be Banned
Link Posted: 12/27/2005 5:50:18 PM EDT
Link Posted: 12/27/2005 5:53:15 PM EDT

Originally Posted By JosieWales:

Originally Posted By JB69:

Originally Posted By pale_pony:
8 years

ok, 7 years but most people are not aware that the IRS considers this to be 2004 (2005 W2's and returns haven't been filed yet) see what I mean?




87 YEARS !




This Post Should Be Banned




w00t !!!
Link Posted: 12/27/2005 5:58:44 PM EDT
[Last Edit: 12/27/2005 5:59:39 PM EDT by superdav]
Thanks for the help, now i dont get to throw anything away

Carry on 87 more posts
Link Posted: 12/28/2005 3:00:54 PM EDT
The law is now 7 years (thanks to the Sarbanes-Oxley Act of 2002). Private and public tax filers are following this rule because you never know when it will hit the private sector. Be prepared.
Link Posted: 12/28/2005 3:02:19 PM EDT

Originally Posted By NoVaGator:
the day after I cash the refund check



That's right you need to burn the evidence
Link Posted: 12/28/2005 3:03:36 PM EDT
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