Lynwood, California - Basic Facts. The City of Lynwood had a population of 72,011 as of July 1, 2016. Lynwood ranks in the upper quartile for Population Density and Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in California.
Scanning the information gives you an electronic backup of the paper indefinitely. Keep returns and all supporting documentation at least seven years. The IRS can audit your return for up to three years from your filing date, a limit applying only to good-faith errors.
If you omit more than 25% of your gross income on your tax returns, you should keep the return for six years. In that case, the IRS has six years to assess additional tax. If you claimed loss for worthless securities or bad debt deductions, you should be save the tax return for seven years.