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 .
Ask The Experts: How Long Should Tax Records Be Kept? December 13, 2010 (The Sacramento Bee) How long tax records should be kept and the amount of taxes owed on pension and Social Security income are issues addressed by IRS expert Jesse Weller. QUESTION: How long does the IRS require taxpayers to keep tax records? I hear it ranges from three to 10 years.