three years
In almost all cases, you can shred or throw away any documents such as W-2s, 1099s or other forms or receipts three years after you file your tax return. The IRS recommends keeping returns and other tax documents for three years (or two years from when you paid the tax, whichever is later.)
How long should you keep income tax copies?
3 years
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.
How many copies of W-2 should I keep?
An employee is typically provided with 3 copies of a W-2 form. Copy B is filed with federal tax returns, Copy 2 with state and local tax returns and Copy C is your copy. The IRS recommends that you keep Copy C until you begin receiving social security benefits.
How long should you keep income tax returns and records?
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.
Do you have to keep a copy of your tax return?
The IRS accepts digital copies of documents as long as they are legible. This method takes up far less space and is easier to organize than a stack of papers. At the beginning of this post you were wondering how long you should keep tax returns – and hopefully you found the answer.
What makes a Form W-2 return as undeliverable?
Any employee copies of Form W-2 that were returned to you as undeliverable. Dates of employment. Periods for which employees and recipients were paid while absent due to sickness or injury and the amount and weekly rate of payments you or third-party payers made to them.