Document Retention & Audit
Taxing authorities require you to retain information substantiating all items reported on your returns. You should retain and protect your tax returns, statements, receipts, and other supporting documents for a minimum of three (3) years and up to seven (7) years after the filing date. Your returns are subject to review (audit), or you may receive requests for additional information from the tax authorities. However, just because your return is selected does not mean there is a problem.
