People now get one to two hours less sleep each night, on average, compared to 60 years ago. A primary reason for this is the proliferation of electronics, which also allows us to work (and play) later than ever before.
The Internal Revenue Service requires that individuals be able to produce records proving any income, deductions or credit claimed for at least three years from the date of a return, the statute of limitations for how long the I.R.S. has to assess additional tax if all income was reported correctly.
What to keep after filing your taxes and how long. Knowing what information to save and for how long can be confusing. As a general rule of thumb, keep tax returns and related documents for at least three years from the April 15 filing deadline. Three years: Tax return forms and schedules plus all information to support what you claimed on your return, especially records related to property, investments, or business assets (for depreciation). 2  While there are exceptions, the IRS has 3 years to assess additional tax and audit returns.