Old Tax Records

[odskids]

Just cleaning out old files. Tom says to save everything for 3 years, with additional time for certain depreciated things. Does this mean we can shred things from 2007 now??
Just checking!

[TomCopeland]

Old tax records

Wait until after April 18, 2010 to shred your 2007 tax records. This assumes you filed your 2007 taxes, didn't cheat and you reported all your income. If not, you could be audited back an additional three years.

[dEHmom]

In Canada it's 7 yrs! UGH!

[daycaremommy]

Wait until after April 18, 2010 to shred your 2007 tax records. This assumes you filed your 2007 taxes, didn't cheat and you reported all your income. If not, you could be audited back an additional three years.

What years are safe to shred...i have daycare stuff from 2003! Would love to have more room in my storage room

[TomCopeland]

old records

In the US you are safe to shred old tax records from before 2007 assuming you haven't cheated, filed a return, and reported your income. Save copies of your tax return for as long as you live.