How Long To Keep Your Federal and Massachusetts Tax Records

by | Jun 14, 2024 | Divorce |

Let’s go in descending order for how long you should keep your Federal and Massachusetts Tax Records:

  • Forever : If you never filed a return, or if you filed a fraudulent return (neither of which is recommended)
  • 7 years : If you file a claim for a loss from worthless securities or bad debt deduction
  • 6 years: If you do not report income that you should report, and it is more than 25% of the gross income shown on your return
  • 4 years : For all employment tax records (W-2, 1099, etc.)
  • 3 years : If none of the above situations apply, or if you got a credit or refund when you filed

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