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.
Ongoing Bills. 1  Utility Bills: Hold on to these for one yearâjust in case there are any billing issues. If you claim a home-office deduction, keep statements for three years because that's how long the IRS generally has to challenge tax returns. 2  Pay Stubs: Save one year's worth.