How long do I have to retain my tax records?

Records Retention Schedule

For addtional information, see this IRS web page.
Accident reports/claims (settled cases) 7 years
Accounts payable ledgers and schedules 7 years
Accounts receivable ledgers and schedules 7 years
Audit reports Permanently
Bank reconciliations 2 years
Bank statements 3 years
Capital stock and bond records ledgers, transfer registers, stubs
showing issues, records of interest coupons, options, etc.
Cash books Permanently
Chart of Accounts Permanently
Checks (cancelled for important payments—taxes, purchases of property, special contracts, etc. File checks with the papers pertaining to underlying transaction). Permanently
Checks (cancelled—except those above) 7 years
Contracts, mortgages, notes and leases (expired) 7 years
Contracts, mortgages, notes and leases (still in effect) Permanently
Correspondence (general) 2 years
Correspondence (legal and important matters only) Permanently
Correspondence (routine) with customers and/or vendors 2 years
Deeds, mortgages, bills of sale Permanently
Depreciation schedules Permanently
Duplicate deposit slips 2 years
Employment applications 3 years
Expense analyses/expense distribution schedules 7 years
Financial Statements (year-end, other optional) Permanently
Garnishments 7 years
General/Private ledgers, year-end trial balance Permanently
Insurance Policies (expired) 3 years
Insurance records, current accident reports, claims, policies, etc Permanently
Internal audit reports (longer retention periods may be desirable) 3 years
Internal reports (miscellaneous) 3 years
Inventories of products, materials and supplies 7 years
Invoices (to customers, from vendors) 7 years
Journals Permanently
Magnetic tape and tab cards 1 year
Minute books of directors, stockholders, bylaws, and charter Permanently
Notes receivable legers and schedules 7 years
Option records (expired) 7 years
Patents and related papers Permanently
Payroll records and summaries 7 years
Personnel files (terminated) 7 years
Petty cash vouchers 3 years
Physical inventory tags 3 years
Plant cost ledgers 7 years
Property appraisals by outside appraisers 7 years
Property records, including costs, depreciation reserves, year-end trial balances,
depreciation schedules, blueprints, and plans
Purchase orders (except purchasing department copy) 1 year
Receiving sheets 1 year
Retirement and pension records Permanently
Requisitions 1 year
Sales commissions reports 3 years
Sales records 7 years
Scrap and salvage records (inventories, sales, etc) 7 years
Stenographers’ notebooks 1 year
Stock and bond certificates (cancelled) 7 years
Stockroom withdrawal forms 1 year
Subsidiary ledgers 7 years
Tax returns and worksheets, revenue agents reports, and other documents
relating to determination of income tax liability
Time books/cards 7 years
Trademark registration and copyrights Permanently
Training manuals Permanently
Union agreements Permanently
Voucher register and schedules 7 years
Vouchers for payments to vendors, employees, etc.
(includes allowances and reimbursement for travel and entertainment expenses)
7 years
Withholding tax statements 7 years