Competition is, in general, a contest or rivalry between two or more entities, organisms, animals, individuals, economic groups or social groups, etc., for territory, a niche, for scarce resources, goods, for mates, for prestige, recognition, for awards, for group or social status, or for leadership and profit. It arises whenever at least two parties strive for a goal which cannot be shared, where one's gain is the other's loss. Competition occurs naturally between living organisms which co-exis
I am often asked how long one should keep tax records. Naturally, the answer is not cut and dried. For example, the IRS states that you must retain your tax returns and all supporting documents including bank statements for a minimum of three years, which is generally how long they have to audit a tax return. If you live in a state that levies an income tax, the rule is generally expanded to four years.
Time Requirements for Tax Records. The rule for retaining tax returns and documents supporting the return is six years from the end of the tax year to which they apply. Your 2015 return and its supporting documents, for example, are safe to destroy at the end of 2021. There are situations that alter this rule.