Do I need to keep 20 year old tax returns?

Editorial team Published on

No, you do not need to keep 20-year-old supporting tax documents, though some financial experts suggest keeping the actual filed tax return copies permanently.

General IRS Retention Rules

According to the Internal Revenue Service, the standard periods of limitations are:

  • 3 Years: Keep returns and supporting documents for three years from the date you filed your original return (or the due date) if you claim a refund or the IRS assesses standard tax.
  • 6 Years: Keep records for six years if you omitted gross income exceeding 25%.
  • Indefinitely: Keep records permanently if you did not file a return or if you filed a fraudulent return.

Discarding and Exceptions

  • Supporting Paperwork: Receipts, W-2s, and canceled checks from 20 years ago can safely be shredded.
  • Property and Assets: Keep records related to real estate or major investments until the period of limitations expires for the year you eventually sell or dispose of the asset.
  • Secure Disposal: Always shred physical paper documents thoroughly to prevent identity theft.

Should I throw away my old tax returns?

You should keep your actual filed tax returns indefinitely, but you can generally throw away supporting documents after 3 to 7 years depending on your specific situation.

General Retention Rules

  • Tax Returns: Many tax experts and the Internal Revenue Service recommend keeping copies of your actual filed tax returns forever to prove you filed and to help prepare future returns.
  • 3 Years: Keep supporting documents (like W-2s, receipts, and 1099s) for three years from the date you filed or the original due date of the return, which covers the standard IRS audit and refund window.
  • 6 Years: Keep records for six years if you omitted income that you should have reported and it exceeds 25% of your gross income.
  • 7 Years: Keep records for claims involving a loss from worthless securities or bad debt deductions.
  • Indefinitely: Keep records if you did not file a return or if you filed a fraudulent return.

Property and Investments

  • Real Estate: Keep purchase and improvement records for property until the period of limitations runs out for the year you sell or dispose of the property.
  • Investments: Keep stock and asset purchase records for the entire duration of ownership plus the standard post-sale retention period.

Secure Disposal

  • Always shred paper tax documents or use a professional shredding service to protect your personal information before throwing them away.

Can I get rid of my 2017 tax return?

Yes, you can generally get rid of supporting backup documents for your 2017 tax return, but many tax professionals recommend keeping the actual filed return copy indefinitely.

Since the current year is 2026, a 2017 tax return filed on time in early 2018 is more than 8 years old, safely past the standard 3-year and 6-year federal audit windows.

📊 Retention Rules Breakdown

  • ✅ Actual Tax Return Copy
    • Keep permanently to prove filing history.
    • Useful for future calculations or social security.
  • ✅ Supporting Receipts & Logs
    • Safe to shred now.
    • Exceeds the 6-year maximum standard rule.
  • ⚠️ Exceptions Requiring Longer Holds
    • Unfiled or fraudulent returns require indefinite retention.
    • Property or asset records need holding until sale plus 3-6 years.

How many years can the IRS go back to audit?

The IRS generally has 3 years from the date you file your tax return to conduct an audit.

However, the lookback period can change depending on the situation:

Standard and Extended Timelines

  • 3 Years (General Rule): For most taxpayers, the IRS looks back three years from the date the return was filed or its original due date (whichever is later).
  • 6 Years (Substantial Errors): If you underreport or omit more than 25% of your gross income, or leave out more than $5,000 in foreign income, the IRS can double the audit window to six years.
  • Indefinite (No Time Limit): There is no statute of limitations if you fail to file a tax return, file a fraudulent return, or intentionally attempt to evade taxes.

Record Keeping

Tax professionals generally recommend keeping your tax returns and supporting financial records (like W-2s, 1099s, and receipts) for at least 6 to 7 years to protect yourself in case an extended audit window applies. You can read more about assessment rules on the Internal Revenue Service guidelines page.

Should I keep 10 year old tax returns?

No, you generally do not need to keep 10-year-old tax returns and their supporting documents, unless specific exceptions apply.

Standard Guidelines

  • Three-year rule: The IRS normally has a 3-year statute of limitations to audit your return or for you to claim a refund.
  • Seven-year rule: Keep records for up to 7 years if you claimed a loss from worthless securities or a bad debt deduction.
  • Ten-year rule: Keep records for 10 years only if you claimed a Foreign Tax Credit.

When to Keep Records Longer

  • Unfiled or fraudulent returns: Keep these documents indefinitely, as there is no statute of limitations.
  • Property and assets: Keep records of home purchases, major improvements, or investment cost bases for as long as you own the asset plus the standard retention period after you sell it.
  • State laws: Some state tax authorities have a statute of limitations longer than 3 years (often 4 to 6 years).

Safe Disposal

  • Shred paper files: Destroy physical copies using a secure shredding service to protect against identity theft.
  • Wipe digital files: Securely delete and wipe electronic records if you no longer need them.

Former IRS Agent Discloses What To Do If You Have Years Of Unfiled Back Tax Returns, NOT TO WORRY

9 related questions found

Can I shred 20 year old tax returns?

Yes, you can safely shred 20-year-old tax returns because they are well past the standard three-to-seven-year window for IRS audits and legal limits.

IRS Retention Guidelines

  • Standard Audit Window: The IRS generally has 3 years from the filing date to audit a return or assess extra taxes.
  • Extended Limits: The limit extends to 6 years if you underreported your gross income by more than 25%, and 7 years if you claimed a bad debt deduction.
  • Fraud or No Return: The IRS advises keeping records indefinitely only if you committed fraud or never filed that year's return.

Exceptions to Keep in Mind

Even at 20 years old, double-check that these documents are not tied to active assets or other legal needs:

  • Property Records: Keep home purchase, improvement, and sale records until the period of limitations expires for the year you finally sell the property.
  • Non-Tax Purposes: Insurance companies, state agencies, or creditors may require longer retention periods for specific financial histories.

What year can I throw away tax returns?

You can generally throw away supporting tax documents after 3 to 7 years, depending on your specific situation, according to the Internal Revenue Service.

For the current year (2026), you can typically discard standard supporting records for tax year 2022 and earlier (3 years), or 2019 and earlier if you underreported income by more than 25% or claimed specific deductions. Many financial experts recommend keeping actual copies of your filed tax returns indefinitely.

General Retention Timelines

  • 3 Years: Keep returns and supporting documents for 3 years from the filing date if you claim a standard refund or if the IRS reviews standard returns.
  • 6 Years: Keep records for 6 years if you omitted gross income exceeding 25% of the total reported on the return.
  • 7 Years: Keep records for 7 years if you claimed a deduction for a bad debt deduction or worthless securities.
  • Indefinitely: Keep records permanently if you did not file a return or if you filed a fraudulent return.

Should I keep 7 years of tax returns if I?

Yes, keeping 7 years of tax returns and supporting documents is a safe, conservative best practice that covers almost all IRS lookback periods.

IRS Retention Rules

  • 3 Years: The standard period for the IRS to audit a return or for you to claim a refund.
  • 6 Years: Required if you underreport your gross income by more than 25%.
  • 7 Years: Required if you claim a bad debt deduction or a loss from worthless securities.
  • Indefinitely: Required if you do not file a return or file a fraudulent return.

What to Keep and For How Long

  • Tax Returns Themselves: Many financial experts and the Internal Revenue Service recommend keeping actual copies of filed tax returns forever, as they help build future returns and serve as a financial history.
  • Property and Real Estate Records: Keep home purchase and improvement records for 7 years after you sell or dispose of the property to calculate capital gains correctly.
  • Investment Records: Keep records of stock or asset cost basis for 7 years after selling the asset.

What do I do with my old tax returns?

You should keep tax returns and supporting records for three to seven years, depending on your specific financial situation, before securely destroying them.

How Long to Keep Tax Documents

  • 3 Years: Keep your returns and supporting documents for three years if you filed normally, as this is the standard period for the IRS to audit your return or for you to claim a refund.
  • 6 Years: Keep records for six years if you failed to report income that you should have reported and it is more than 25% of your gross income.
  • 7 Years: Keep records for seven years if you claimed a loss from worthless securities or a bad debt deduction.
  • Indefinitely: Keep your actual tax return copies forever (to prove you filed) and keep records indefinitely if you never filed a return or filed a fraudulent one. You may also want to keep W-2 forms until you start receiving Social Security benefits.
  • Property and Investments: Keep records related to real estate or investments for as long as you own the asset, plus at least three to six years after you sell it.

What to Do When It Is Time to Dispose of Them

  • Shred securely: Use a cross-cut shredder or a local shredding service to destroy physical documents containing Social Security numbers and financial data.
  • Access past records if needed: If you need copies of recent filings or past summaries, you can view your tax records and transcripts through your Individual Online Account. If you used software like TurboTax or H&R Block, you can log in to download prior-year copies.

What is the $600 rule?

The "$600 rule" historically refers to an IRS reporting guideline requiring businesses or third-party payment networks to issue tax forms (like a 1099-NEC or 1099-K) when payments reach or exceed $600 in a calendar year. However, federal thresholds have recently been updated to $2,000 for standard contractor forms, and older 1099-K app-reporting rules have reverted to a $20,000 limit federally (though some states still enforce the $600 threshold).

Traditional 1099-NEC & 1099-MISC Rule

  • The Old Standard: Businesses had to file a Form 1099-NEC for independent contractors or freelancers paid $600 or more in a year.
  • The 2026/2027 Update: Federal legislation raised this specific non-employee compensation threshold from $600 to $2,000 starting in 2026, with future annual inflation adjustments.

Payment Apps and 1099-K Rules

  • App Confusion: Many users worried that receiving over $600 on apps like Venmo, PayPal, or Cash App for goods and services would trigger an automatic tax form.
  • Federal Reversal: The federal $600 rule for 1099-K forms was replaced, returning the federal threshold back to $20,000 and over 200 individual transactions.
  • State Exceptions: Certain states (such as Massachusetts, Maryland, Vermont, and Virginia) still enforce their own $600 rules for third-party payment networks regardless of federal rollbacks.
  • Tax Obligation: Regardless of whether a 1099 form is issued, the IRS legally requires taxpayers to report all taxable business or side-hustle income.