Full Definition of STATUTE. 1. : a law enacted by the legislative branch of a government. 2. : an act of a corporation or of its founder intended as a permanent rule.3. : an international instrument setting up an agency and regulating its scope or authority. See statute defined for English-language learners.ull Definition of STATUTE. 1. : a law enacted by the legislative branch of a government. 2. : an act of a corporation or of its founder intended as a permanent rule. 3. : an international instrument setting up an agency and regulating its scope or authority. See statute defined for English-language learners.
The IRS generally has up to three years after the tax-filing deadline to initiate an audit, so keep your tax returns and supporting documents at least that longâin other words, after April 15 this year, hang on to returns and documents for tax years 2012 through 2014 .
The Three Year Rule. In general, you should plan to keep your tax records for three years from the date the return was filed, or from the due date of the tax return (whichever is later). If you filed your return early, itâs treated as being filed on the due date. An example of the three year rule.