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How Long to Keep Personal Tax Papers?

By March 15, 2016 August 5th, 2020 No Comments

It’s March, and it is likely that you have filed your tax returns already, or you are preparing to have them done. Many of our clients ask us how long they should keep copies of their returns or supporting documents.

Personal records to keep:

One year

  • While it’s important to keep year-end mutual fund and IRA contribution statements forever, you don’t have to save monthly and quarterly statements once the year-end statement has arrived.

Three years

  • Credit Card Statements
  • Medical Bills (in case of insurance disputes)
  • Utility Records
  • Expired Insurance Policies

Six Years

  • Supporting Documents For Tax Returns
  • Accident Reports and Claims
  • Medical Bills (if tax-related)
  • Property Records / Improvement Receipts
  • Sales Receipts
  • Wage Garnishments
  • Other Tax-Related Bills


  • CPA Audit Reports
  • Legal Records
  • Important Correspondence
  • Income Tax Returns
  • Income Tax Payment Checks
  • Investment Trade Confirmations
  • Retirement and Pension Records

For more information on what tax papers (or other important documents) to keep, please contact our offices or visit our Record Retention Policy page on our website.