Comments on: Ditching The Clutter: How Long To Keep Important Papers. http://simpleorganizedlife.com/ditching-the-clutter-how-long-to-keep-important-papers/ Fri, 03 Feb 2012 10:10:21 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: David http://simpleorganizedlife.com/ditching-the-clutter-how-long-to-keep-important-papers/comment-page-1/#comment-7156 David Mon, 09 Aug 2010 16:51:20 +0000 http://simpleorganizedlife.com/?p=192#comment-7156 Because it's a fallacy that you can only be audited 3 years after filing. If you have a material omission of income (whether you knew about it or not), they have 6 years from the date the tax return was filed or the due date of the return, whichever is later. If your return is fraudulent, then their is no time limit. Because it’s a fallacy that you can only be audited 3 years after filing. If you have a material omission of income (whether you knew about it or not), they have 6 years from the date the tax return was filed or the due date of the return, whichever is later. If your return is fraudulent, then their is no time limit.

]]> By: Dave M http://simpleorganizedlife.com/ditching-the-clutter-how-long-to-keep-important-papers/comment-page-1/#comment-7094 Dave M Tue, 03 Aug 2010 03:02:23 +0000 http://simpleorganizedlife.com/?p=192#comment-7094 Just curious why you would need to keep physical copies of tax returns forever? After 3 years for personal or 7 years for business, why not just scan them to PDF and shred the paper? Great post BTW! Just curious why you would need to keep physical copies of tax returns forever? After 3 years for personal or 7 years for business, why not just scan them to PDF and shred the paper?

Great post BTW!

]]> By: marci357 http://simpleorganizedlife.com/ditching-the-clutter-how-long-to-keep-important-papers/comment-page-1/#comment-4055 marci357 Mon, 30 Nov 2009 20:11:45 +0000 http://simpleorganizedlife.com/?p=192#comment-4055 Keep forever - Physical copy of service discharge papers. Your heirs will need this when you die and it is a pain to get another one in time for the burial benefits. Keep forever - paper notarized copy of your will. Keep a couple years - copies of death certificates for any estate handling you had to deal with - spouses, ex-spouses, parents, etc. Some of this stuff has to be 'reproven' a couple years down the road. Credit card statements or the receipt for major purchases with a warranty should be kept for the length of the warranty at least. Keep forever – Physical copy of service discharge papers. Your heirs will need this when you die and it is a pain to get another one in time for the burial benefits.

Keep forever – paper notarized copy of your will.

Keep a couple years – copies of death certificates for any estate handling you had to deal with – spouses, ex-spouses, parents, etc. Some of this stuff has to be ‘reproven’ a couple years down the road.

Credit card statements or the receipt for major purchases with a warranty should be kept for the length of the warranty at least.

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