Data Security: How Long Should You Keep Tax Returns

Posted by Ryan Richard

Tax records should always be shredded by a professional. Identity thieves are notorious for sifting through the trash and piecing together documents after shredding with an aftermarket device. Using professional shredding services can help prevent identity theft.

Keep Tax Returns

Make sure you are keeping your documents and receipts for the tax records you have filed. You must keep tax returns for a certain amount of time before getting rid of them. It would be best to have a tax document checklist on hand to ensure you don’t miss anything. If audited, the IRS will want to see where everything came from and where it is going. Knowing how long to keep personal records is instrumental in making sure your items stay confidential and secure. 

The IRS will also want to see any 1099s, W2s, and 1040s. A rule of thumb is to keep your records for at least four years after filing. If your state doesn’t have a state tax, you can keep them for three. It is always a good idea to err on the side of caution when working with the IRS. Old tax returns should be stored properly at all times to avoid confusion.

How Long to Keep Personal Records

While there are general rules of thumb, it’s important to know that the IRS can go back six years if they want to if more than 25% of income was omitted from your tax return. When there is a fraudulent return, there is no statute of limitations. Be very careful when keeping personal records, and always use a professional document destruction service to dispose of your confidential and sensitive documents. Ensure your personal records are kept under lock and key before getting them shredded to ensure they cannot be compromised.

 Contact Carolina Shred 

The Carolina Shred team knows and understands the nuances of how to dispose of tax records. As an AAA NAID Certified Veteran-owned and operated facility, they offer quality shredding services for individuals and companies with onsite, drop-off, or pickup options.

It’s always best to work with a team that can meet your needs at reasonable prices. From setting up schedules for your document destruction to creating a specific shredding event, we have accommodated businesses and residents of Charlotte, NC, and the surrounding areas with top-notch customer service.

Don’t leave things to chance. Identity thieves are careful and sneaky, waiting for documents that are not properly disposed of to be exposed. By using a document shredding service, you'll have peace of mind knowing your documents are certified shredded most safely and securely. Our uniformed drivers work hard to make sure you are comfortable entrusting us to do your shredding.

For more information on our shredding and document destruction services in Charlotte, North Carolina, and the surrounding areas, contact an associate to see how we can assist today!