Which Financial Documents Need To Be Kept?
This time of year our offices receive questions regarding which financial documents need to be kept and which can be thrown away. To help, we have provided you a
Record Keeping Resource Guide for both individual and business documents.
Note - federal law requires taxpayers to save copies of tax returns and the information/receipts used to support returns for 3 years. If the IRS has reason to believe an error may have occurred on a tax return, they may look back 6 years.
Click Here for the Record Keeping Resource Guide.
These recommendations on Document Retention are general guidelines. They are NOT advice for any specific circumstance! Please contact us for professional advice.
If you have special questions contact
Bill McDonald, CPA at (319) 339-4884.