Tax season officially kicked off on January 20, which means you can now start filing for your 2014 tax return. But some of you may also be wondering what you should do with that drawer full of OLD tax documents. The good news is that the IRS can only start an audit on non-fraudulant tax returns that are three years old and newer. This means you don’t need to keep any supporting documents that are older than three years. The bad news, these documents can potentially contain information that criminals can use to steal your identity so it’s important to destroy these old documents securely.
Let us help you by safely and securely destroying those tax documents. We offer convenient mobile services and are AAA Certified so you can trust that your business is protected.
While destroying old tax documents will significantly decrease the clutter in your life, do remember to keep copies of your actual tax returns in a secure location.
Are you wondering about how long you should keep other sensitive documents? Check out these recommended timelines below:
- Paycheck Stubs: If you are planning to apply for a loan, you should keep at least the previous 3 months of paycheck stubs. However, for most purposes, you would only need your latest stub.
- ATM Receipts: Can be securely disposed once you have compared them with your bank statement.
- Credit Card Statements: A year is recommended to cover possible disputes or returns.
- Warranties: Keep for as long as you own the item or the warranty expires.
Click Here to find out more about how long you should hold on to other common personal documents.
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