
How long should you hold on to your old tax documents?
Now that your taxes are filed, you are probably ready to start getting rid of old tax returns, account statements, and other financial documents that have been cluttering up your desk and file cabinets. But before you fire up that shredder, it is important to know how long you should hang on to previous years’ documents. Seven years to be on the safe side The bottom line: You should keep your tax and financial documents a minimum of three years, but you should probably keep t