Is There A Six-Year Rule For Keeping Income Tax Records? скачать в хорошем качестве

Is There A Six-Year Rule For Keeping Income Tax Records?

Are you confused about how long to keep your tax documents? Many people ask about a specific "six-year rule," but the truth is, tax record retention can be more nuanced than that. In this video, you'll discover: ► The general IRS recommendation for keeping tax records is three years. ► When the specific six-year rule applies, particularly if you've underreported income. ► That there's no statute of limitations for fraudulent returns or if you fail to file. ► How long to retain records related to property, like purchase and improvement documents. ► A practical seven-year rule of thumb to cover most situations, including potential state tax audits. #TaxRecords, #IRSRules, #TaxCompliance, #FinancialLiteracy, #TaxTips, #AsianAmericanCPA