How Long To Keep Tax Records: Can You Ever Throw Them Away?
How Long To Keep Tax Records: Can You Ever Throw Them Away?
Michael Keenan Sat, February 5, 2022,
Once you’ve submitted your tax return to the Internal Revenue Service each year, the last thing you probably want to think about is how to store your tax records. But making these arrangements is essential to protect yourself in the event of a future IRS audit.
The general rule is to keep your tax records for three years, but there are several important exceptions for when you might need to keep your tax records for a longer period as a taxpayer. Read on to learn how long to keep your tax records and when you can safely dispose of them.
Determining Expiration of the Statute of Limitations
Typically, the statute of limitations for the IRS to audit your tax return is generally three years. For an income tax return, the period of limitations is three years. But the IRS says it’s wise to keep your tax returns even longer. For example, if the IRS audits you, you’ll have the documents you need to protect yourself from an audit. The statute of limitations starts running on the later of the due date for your tax return or the date on which you file your taxes.
Special Tax Items
You’ll need to keep your records for seven years if you claim a deduction of worthless securities or bad debts. For example, if you lent a friend $10,000 under a promissory note and the friend went bankrupt, keep records to prove that it was a legitimate debt discharged in bankruptcy that was never paid.
Another special tax item is employment taxes. Keep records for employment taxes for four years from the later of the date the tax is due or the date you pay the tax.
Records Related To Property
When your tax return includes information related to property, keep those records until the statute of limitations — typically three years — runs out for the year in which you sell or otherwise dispose of the property.
To continue reading, please go to the original article here:
https://news.yahoo.com/long-keep-tax-records-ever-140014688.html
Stephanie Starr: September 30th to October 1st, Watch the Timing
8-12-2026
SEPTEMBER 30 → OCTOBER 1. WATCH THE TIMING.
Iraq is reaffirming September 30 as the end of the U.S.-led Coalition’s military mission, with October 1 beginning what Iraqi leadership calls a “new phase” focused on sovereignty, security, economic development and prosperity.
October 1 is ALSO:
• Day 1 of the U.S. government’s Fiscal Year 2027
"My Account" project: Countdown begins for the complete abolition of "cash salaries" in Kurdistan by the end of this month
Erbil (Kurdistan24) - The Kurdistan Regional Government's "My Account" (Hizami Man) financial project team has issued a decisive notice to public sector employees and retirees, announcing that they have only 20 days left to receive their bank cards before cash payments are completely and finally stopped as of August 31, 2026.
Good Morning Dinar Recaps,
BRICS Moves From Talk to Financial Infrastructure: Iran Eyes Development Bank as Members Explore Linked Payment Systems
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The Tax Collector Now Gets a Cut of What He Finds
Notes From the Field By James Hickman (Simon Black / Sovereign Man) August 11, 2026
Arguably the most famous man on the planet throughout the 1700s was the famed writer Francois-Marie Arouet, known to history as Voltaire. He wasn't just a celebrity writer and philosopher, however; Voltaire was also a wealthy capitalist and nobleman who almost single-handedly turned the impoverished region of Ferney into a highly productive watchmaking hub.
TNT:
Tishwash: Al-Zaidi to CENTCOM commander: By October, Iraq will be free of any foreign military presence.
Prime Minister Ali al-Zaidi confirmed on Wednesday evening to US Central Command chief Charles Brad Cooper that Iraq will be free of any foreign military presence on October 1st.
Al-Zaydi’s media office stated in a statement received by Shafaq News Agency that during his meeting with the CENTCOM commander, he emphasized the commitment to the agreed-upon timelines, which stipulate that September 30th will be a fixed and final date for ending the international coalition’s military mission in Iraq and completing the departure of its forces.
KTFA
Wednesday Night Video
FRANK26…8-12-26…. RED LINES
This video is in Frank’s and his team’s opinion only
Frank’s team is Walkingstick, Eddie and Omar in Iraq and guests
Playback Number: 605-313-5163 PIN: 156996#
Saladin Gas Field Targets 300M Cubic Feet Daily
2026-08-11 Shafaq News- Baghdad Iraq plans to raise gas production from the Ajeel field in Saladin province to around 300 million standard cubic feet per day, the Oil Ministry stated on Tuesday.
Deputy Oil Minister for Gas Affairs Izzat Saber Ismail said the projected output would strengthen the national gas system and could also support production of liquefied petroleum gas and condensates.
Good Evening Dinar Recaps,
U.S.–Iran Conflict Update: Ceasefire Talks Stall as Strait of Hormuz Remains at the Center of the Crisis
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Rob Cunningham: A Commission-wide Digital-Asset Safe Harbor
8-11-2026
The SEC’s Nuclear Option: A Commission-wide Digital-Asset Safe Harbor on August 14, 2026?
Section 36 of the Securities Exchange Act gives the SEC remarkably broad exemptive authority.
The SEC itself describes it this way:
“…the Commission may, by rule, regulation, or order, conditionally or unconditionally exempt persons, transactions, securities – or entire classes of them – from provisions of the Exchange Act or its rules, provided the exemption is in the public interest and consistent with investor protection.”
Japan Just Forced the US into an Impossible Choice
Taylor Kenny: 8-11-2026
Japan’s currency crisis may be exposing a much bigger problem for the U.S. The largest foreign holder of U.S. Treasuries—faces mounting pressure at the same time America is approaching $40 trillion in debt. So what happens if Japan needs cash and starts selling Treasuries?
The global financial system is currently experiencing subtle yet profound shifts that could redefine wealth preservation for years to come.
Bruce’s Big Call Dinar Intel Tuesday Night 8-11-26
Transcribed By WiserNow Emailed To Recaps (INTEL ONLY)
Welcome everybody to the big call tonight. It is Tuesday, August 11, and you're listening to the big call. Welcome everybody from wherever you're listening, So let's do this. All right. Thank you, Bob. Appreciate that. Thank you, Sue.
And let's talk about where we are now in the world of Intel. It's a little bit quiet out there right now, but I'll tell you from the various perspectives of where we believe we are on our timeline.
Good Afternoon Dinar Recaps,
Cooling Inflation, Rising Debt Costs: The Fed Faces a New Policy Dilemma
U.S. inflation is easing toward the Federal Reserve’s target while record government interest costs increasingly complicate the path for monetary and fiscal policy.
Ariel: The Crash of Fiat and the Iraqi Dinar RV
8-11-2026
The Crash Of Fiat: Locking Up Liquidity & Transferring The Wealth Of The Ages (End Of Cabal)
We Are Going To Dive Right Into It Folks
Iraqi Dinar RV & The $80 Oil Peg:
Iraq is the keystone. Deleting the three zeros was said to require the Clarity Act to codify the asset-backed status into US law, preventing the Cabal from legally challenging the revaluation through their once captured SEC and judiciary. But we know that not the case.
Coffee with MarkZ, joined by Andy Schectman and Zester. 08/12/2026
MarkZ Disclaimer: Please consider everything on this call as my opinion. Be sure to consult a professional for any financial decisions
MZ: Andy joins us early, with talk of deleting zeroes I need to revisit an old topic today and cover the news in a hurry before Andy starts. Zester joins to wrap things up with Andy today.
THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY
Reset Intelligence: A Budget for What Rate?
8-11-2026
A Budget for What Rate?
By Reset Intelligence | @EXIT_FIAT
Iraq has started writing the next law that must name the dinar’s exchange rate – and the central bank is sitting at the drafting table.
Five Years With Half Pay, And Six Months Without Pay... Parliament Paves The Way For Granting Iraqi Employees A "Long Leave"
latest news Tuesday, August 11, 2026 Baghdad - One News - 8/11/2026 The Iraqi parliament is paving the way for the approval of a new option for state employees, allowing them to obtain a long leave of five years or more in exchange for receiving half of the nominal salary, in addition to a six-month leave without pay.
Good Morning Dinar Recaps,
U.S. Treasury Market Pressure: Rising Bond Yields Test the Foundation of Global Finance
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Rob Cunningham: XRP Price Before Law v 2.0
8-11-2026
• XRP Price Before Law v 2.0 •
Last Friday’s major institutional question was:
“Why should we expose ourselves to digital assets before Congress tells us exactly what everything is?”
Also the “John Thune would suck in the WNBA, too” week in DC.
KTFA
Tuesday Night Video
FRANK26…8-11-26….THE LAW TO LIFT THE 000'S !!!
This video is in Frank’s and his team’s opinion only
Frank’s team is Walkingstick, Eddie and Omar in Iraq and guests
Playback Number: 605-313-5163 PIN: 156996#
Thursday Coffee with MarkZ. 08/13/2026
Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
MZ: Customs agreements, WTO, and national sovereignty dominate Iraqi news. PapaDave couldn't join us this morning. Stacie talks health after the news.