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by Answerbag Staff on March 16th, 2010

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How long should people keep receipts for income tax?

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  • by Laura Agadoni on March 16th, 2010

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    Professionally Researched. (What's this?)

    You should keep receipts for income taxes for seven years. The IRS has a three-year window in which it can audit your tax return. This also applies to the filer if he discovered he made a mistake and intends to file an amended return. The IRS has up to six years to challenge your tax return, though, if it thinks you under-reported your income.

    Source:

    Bank Rate: How Long to Keep Financial Records

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