Securely Streamline Your Financial Files: When and How to Dispose of Old Tax Records

Understanding when it's safe to dispose of old tax records is crucial for both personal and business tax planning. According to industry guidelines, tax records can usually be discarded after the period of limitations has elapsed, which is generally three years from the filing date or the original deadline, depending on which is later. However, particular situations, such as fraudulent tax returns, may warrant a longer retention period, often necessitating a more comprehensive review.

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At Jeanie K's Tax and Accounting, we advise clients to maintain a meticulous record-keeping approach, helping ensure compliance with both federal and state regulations. Strategically managing your financial documents not only simplifies future tax preparation but also mitigates the risk of audits by maintaining required documentation.

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Our team, located at 2444 E Southern Ave., Ste 101 Mesa, Arizona, specializes in professional tax preparation and planning, handling everything from estate, gift, and trust returns to multi-state tax issues. As an IRS-authorized e-file provider, we ensure smooth and accurate filing processes, tailored to individual and business needs.

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