Although the April tax-filing deadline has come and gone, it’s a question many clients ask throughout the year. Depending on which person you ask, you might get a range of responses, from a few years to a lifetime. I strongly recommend you keep your tax returns forever. For example:
You bought a stock in 1992. You sell it in 2018. You claim a capital loss on your shares of stock. The IRS examines your return and alleges that you didn’t have a loss; rather you made a large profit. Wouldn’t you like to have proof of your purchase price? Another scenario:
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