How Long to Keep Tax Records
Keep the records behind a tax return for at least 3 years after you file it, the IRS says, because that is how long you can usually amend it or the IRS can assess more tax. Some cases run longer: 6 years if you left out more than 25% of your gross income, 7 years for a bad debt or worthless securities loss, at least 4 years for payroll records, and with no end date if you did not file. Pick your situation below to get your date.
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Written from IRS sources for United States federal taxes. States and other countries have their own rules. General information, not tax advice.
Find the date your records can go
Pick the line that fits, check the dates, and press the button. Federal (IRS) rules only.
Keep these records until at least
Before you shred anything, check whether your state, your insurer or your lender needs it longer. The IRS says to check too.
How long do you keep bank statements?
The IRS ties the time to the tax return a record supports, not to the kind of paper. A bank statement that backs up income or a deduction on your return is kept as long as that return's records: generally 3 years after you file, or longer in the cases above.
A statement that supports nothing on a return is a question for your bank, your lender or your insurer. The IRS reminds people that these can need records longer than it does.
How long to keep receipts for taxes?
The same rule: keep each receipt until the period of limitations ends for the return it supports. For most people that is 3 years after filing.
Receipts for something the business owns, like a car or equipment, are kept until the period ends for the year you sell or dispose of it, because they are needed to figure depreciation and the gain or loss.
How long to keep business records? A retention schedule
From the IRS page on how long to keep records. The years count from the date you filed, and a return filed early counts as filed on its due date.
| Records | Keep them |
|---|---|
| Most income tax records | 3 years after you file |
| After a claim for a credit or refund | 3 years after you filed, or 2 years after you paid the tax, whichever is later |
| Income left out that is more than 25% of the gross income shown | 6 years |
| A loss from worthless securities or a bad debt deduction | 7 years |
| Payroll (employment tax) records | At least 4 years after the tax was due or paid, whichever is later |
| Records for property the business owns | Until the period ends for the year you sell or dispose of it |
| No return filed, or a fraudulent return | Indefinitely |
| Copies of your filed returns | Keep them; the IRS says they help with future and amended returns |
Can I keep scanned copies instead of paper?
Yes, when the system you keep them in meets IRS rules. Publication 583 says electronic records must meet the same requirements as paper ones, and the system must index, store, preserve, retrieve and reproduce them in a legible form. The paper originals may be destroyed once the system has been tested to show it reproduces them the way the IRS requires. Revenue Procedure 97-22 has the details.
Sources: IRS, How long should I keep records? (read October 30, 2026); IRS Publication 583, Starting a Business and Keeping Records, Electronic records (read October 30, 2026).
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Questions people ask
Is it 3 years or 7 years?
Three years is the usual IRS rule for income tax records. Seven years applies when you claim a loss from worthless securities or a bad debt deduction, and six years if you left out income of more than 25% of the gross income on your return.
When does the 3 years start?
From the date you filed the return. A return filed before its due date is treated as filed on the due date, so an early filer's clock starts on the due date.
Do states keep records longer?
Some states can review a return for longer than the IRS. Check with your state tax agency before you shred anything, because this tool covers the federal rule only.
How long should I keep payroll records?
At least 4 years after the tax becomes due or is paid, whichever is later, the IRS says for employment tax records.
What if I never filed a return for a year?
Keep the records for that year indefinitely. The IRS says there is no end date when a return was not filed or was fraudulent.
How long do I keep receipts for equipment or a car?
Until the period of limitations ends for the year you sell or dispose of it. Those receipts are needed to figure depreciation and the gain or loss when you sell.
Can I shred records once the date passes?
For federal tax purposes, generally yes, but check first that nobody else needs them. The IRS reminds people that banks, lenders and insurers can ask for records longer than it does.
Does the date change if I file late?
Yes. The years count from the date you actually filed, so a late return starts its clock later. Only an early return is treated as filed on its due date.
Should I keep copies of my tax returns?
Yes. The IRS suggests keeping copies of filed returns, because they help when you prepare future returns and if you ever file an amended one.