Learning Center
We keep you up to date on the latest tax changes and news in the industry.

Video Tips: How Long Should Old Tax Records Be Kept?

Generally, tax records should be kept for 3 years from the due date of the return to which they apply. Or if the return was filed after the due date, 3 years from the actual filing date. The statute of limitations can be longer if there is fraud, or a return was not filed. Add 2 years if your state statute is longer. Basis records for stock, property and other assets must be kept until the statute expires for the year of sale.

Share this article...

Want tax & accounting tips and insights?

Sign up for our newsletter.

I confirm this is a service inquiry and not an advertising message or solicitation. By clicking “Submit”, I acknowledge and agree to the creation of an account and to the and .

TAX DRx at a Glance

Our expertise is widespread and we have multiple office locations to make it convenient for you to get help. You can find us at:

TAX DRx Corporate Headquarters

502 Centennial Ave
Cranford, NJ 07016
(Grd St Pkwy - Ext 136)
(877) 263-1041

NYC - Harlem Franchise Office

2123 Frederick Douglass Blvd
New York, NY 10026
(8th Ave & 115th St.)
(Subway B, C, Bus M3)
(877) 263-1041

TAX DRx - Hillside

*Charles Dort, Managing Partner*
1568 Maple Ave, Store #1
Hillside, NJ 07205
(Corner of Conklin Ave)
(877) 408-1048

TAX DRx, dba/ TaxJohn

TaxJohn Tax Services
121 Park Ave
Plainfield, NJ 07060