What to do with your filed tax returns

The IRS recommends that you keep copies of filed tax returns and related documents for seven years. The IRS could review your filed returns at any time during this period. Most tax software keeps your returns in electronic format so these will be easy to backup. Supporting paper records should also be scanned and stored electronically. A virtual safe deposit box (VSDB) is the perfect place to store your tax returns and supporting records. Ideally your VSDB software should allow tax professional to store your returns directly into your VSDB.

James Bell