***We would like your help***...Click Here! The Enhanced Fujita Scale went into effect in February 2007. The National Weather Service will now rate tornado damage according to the new guidelines. For more information on the EF-Scale...Click Here. For simplicity, the F-Scale will remain the main descriptor in this database and it will be implied that the ratings are based on the EF-Scale starting February 2007.
1 If you filed for a deduction for a bad debt or worthless security, the IRS suggests you keep your supporting tax records for 7 years. 2  Under these circumstances, you may generally wish to retain your supportive records for at least 7 years. 3  Employment Tax Records.ere are some basic record retention rules to think about for your business. 1  Business Income Tax Returns and Supporting Documents. 2  It makes sense to keep a final copy of your business income tax returns and related correspondence with the IRS permanently to help you prepare future or amended returns.
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.