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Publication 552 Rev December Recordkeeping for Individuals Form
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People also ask
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What is Publication 552 recordkeeping for individuals?
IRS Publication 552, entitled Recordkeeping for Individuals, covers why you should keep records, what kinds of records you should keep, and how long you should keep them for tax purposes. This publication is intended for individual taxpayers and does not discuss the records you should keep when operating a business.
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What is the IRS publication for recordkeeping?
Publication 583 provides basic federal tax information for people who are starting a business. It also provides information on keeping records and illustrates a recordkeeping system.
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What are the IRS record retention guidelines for individuals?
Keep records for 3 years from the date you filed your original return or 2 years from the date you paid the tax, whichever is later, if you file a claim for credit or refund after you file your return. Keep records for 7 years if you file a claim for a loss from worthless securities or bad debt deduction.
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How long do you have to keep personal records?
To be on the safe side, McBride says to keep all tax records for at least seven years. Keep forever. Records such as birth and death certificates, marriage licenses, divorce decrees, Social Security cards, and military discharge papers should be kept indefinitely.
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