The length of time you should keep your tax records depends on a number of factors, including the action, expense or event the document records. Here are a few brief guidelines:
Keep your tax returns and supporting documentation until the statute of limitations runs for filing returns or filing for a refund. In most cases, the statue of limitations (SOL) for assessment of taxes expires three years from the due date of the return, or the date that you file, whichever is later. An extension of the due date for filing the return does not change the date the statute of limitations starts to run.