How Long Do You Keep Tax Returns. For many financial documents, just 3 years — for others, practically forever. Keep records for 7 years if you file a claim for a loss from worthless securities or bad debt deduction.

For many financial documents, just 3 years — for others, practically forever.

Kelly hernandez | february 23, 2021. First, keep a copy of your actual 1040, or other form that lists how much refund you received or how much you owed. Kelly hernandez | february 23, 2021. Here's what you need to know. Do you need to keep them, or can you throw them away (or, should i say, shred them)? The answer to this question can be a bit flimsy. Are you still keeping paper copies or have you switched to digital? After you file your tax return, the irs could notify you that they've found an error on your return. Keeping all of your financial papers that long is not a good strategy. Find out how long you are required to keep those annoying old tax returns. How long to keep your tax record.