IRS How Long should I keep Records

Scott Stone

New member
Statute of limitations is 7 years. They can't prosecute you past 7 years, but they can look at older records to determine where you have been cheating, and look more closely at those areas. No records, no way to determine it.
 

Grime Busters LLC

New member
I was audited several years ago. Strange to of learned the IRS didn't keep any of my previous years returns. I needed to provide everything, or face the consequences. If I remember correctly, they went back 3 years on me, maybe 5.

I jumped through all the hoops (actually my accountant did) and no "dirt" was ever revealed. Still had to pay my accountant for his time and services, but guess it could of been much worse.
 

Russ Spence

Commercial Pressure Wash Expert and PWI Administra
Statute of limitations is 7 years. They can't prosecute you past 7 years, but they can look at older records to determine where you have been cheating, and look more closely at those areas. No records, no way to determine it.
as usual Scott, YOUR RIGHT!:dance3:
 

Alexy

New member
If you look at federaljobs.com IRS has been massively hiring and training auditors for almost a year. ...wonder why?
Also never sign any administrative documents they will give you at the inital meeting you are signing away your rights and allowing them to look at your banl records to compare them to the tax filing for both you and your corporation
taxhelponline.com/tax-help.../surviving-a-tax-audit.html
 

Grime Busters LLC

New member
Because Obango is going to start going after the small business owners.


If you look at federaljobs.com IRS has been massively hiring and training auditors for almost a year. ...wonder why?
Also never sign any administrative documents they will give you at the inital meeting you are signing away your rights and allowing them to look at your banl records to compare them to the tax filing for both you and your corporation
taxhelponline.com/tax-help.../surviving-a-tax-audit.html
 

Ron Musgraves

Exterior Restoration Specialist
Staff member
Statute of limitations is 7 years. They can't prosecute you past 7 years, but they can look at older records to determine where you have been cheating, and look more closely at those areas. No records, no way to determine it.

So what are you saying? FIRE!!!
 
If you look at federaljobs.com IRS has been massively hiring and training auditors for almost a year. ...wonder why?
taxhelponline.com/tax-help.../surviving-a-tax-audit.html


I know this for a fact.....My friend was hired in the past 2 years. Why? That is a big question.

All I can say is dont cheat the government......I have seen a very wealthy close friend completely ripped to shreds in an IRS battle. They tore him up in the news papers and on the news and everything. He paid dearly to boot.
 

welder

New member
I have been through a few incidences with the IRS. IMHO, State sales tax is worse. Not only are you dealing with your records, You are dealing with every one you deal with's records.

If there records are not up to snuff, YOU PAY1 No matter how tight you are.
 

Ron Musgraves

Exterior Restoration Specialist
Staff member
Just a friendly reminder about book keeping, check out the UAMCC National pressure washing Show for educational details for record keeping seminar.
 
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