GREENSBORO, N.C. — If you open up my file cabinet, you'll see taxes from last year and years past, but also from as far back as the 90s. There's really no reason to keep tax returns for five, 10, 20 years, is there? Let's go to the source.

On the IRS website, the recommendation is:

In general, taxpayers should keep records for three years from the date they filed the return.

When we talk about records, the IRS lists the tax return, tax-related records like the W-2 or 1099, any notices from the IRS, property, business expenses, and health insurance coverage records.

So, after three years, you can get rid of your tax documents as far as the IRS is concerned, but a tax expert says you'll want to hold on to a specific document for another government entity.

"The only thing I do suggest

See Full Page