Oh what a relief. No more keeping old filed incomes taxes for 7 years. Now it is only 3 years, thus tax year 2017, 2016, 2015. Unless you had declared a loss then you would need to keep them for 7 years. So start shredding my friends. I have dug into my own old filed taxes a few minutes ago but the old shredder just broke with a loud pop. Time to get a new one that can shred more than 2 pieces of paper at one time :P I'll be glad to get rid of my late parents old filed taxes, too.
Purge your documents and entertain your loved one at the same time!
Thanks for letting us all know. I too thought it was a minimum of 6 or 7 years.
I'm with you. Need to get the shredder out.:-)
For my self, I am keeping records for myself and my late parents going back 5 years. Did the same for the boss who hadn't shredded any business files for over a decade.
FF if I were you I should go ahead and gleefully shred (an iPod with something boppy on it makes the noise less irritating) but just make sure you have their new instructions in writing, preferably signed in blood.
Maybe T or his 1% friends can be thanked for that, assuming it's in the new tax bill.