What records am I legally required to keep for an IRS or tax audit?

There is no single master list of documents the law forces every taxpayer to retain, but tax authorities expect you to keep whatever supports the income, deductions, and credits reported on a return. If you cannot substantiate an entry during an audit, the burden generally falls on you, not the agency.

What to keep

Hold on to the records that back up every line of your return, including:

• Income records — wage and earnings statements, 1099s, K-1s, bank and brokerage statements, and records of other money received.
• Expense and deduction support — receipts, invoices, canceled checks, and proof of payment for deductible costs.
• Asset records — purchase and improvement documents for property, investments, and equipment, used to calculate gain, loss, and depreciation.
• The returns themselves — filed copies of each year’s return and any supporting worksheets.
• Employment and payroll records — if you have employees, payroll, withholding, and wage-and-hour documentation. Note that some labor records carry their own separate retention rules.

How long to keep them

Retention is usually tied to the period of limitations — the window during which a return can be examined or amended. The general guideline is to keep records at least three years from the date you filed, but longer periods apply in certain situations: more years if income was substantially understated, indefinitely if a return was never filed or was fraudulent, and as long as you own an asset (plus the limitations period) for records that establish its basis.

When records relate to more than one purpose, keep them for the longest applicable period. Always confirm the specific timeframes that fit your situation against current official guidance, since thresholds and special rules can change.

Good practice

Organize records by tax year, keep originals or reliable digital copies, and store them so they remain legible and retrievable for the full retention period. A simple, written retention schedule helps ensure documents are kept long enough to defend a return and disposed of consistently once the window closes.

For broader principles on setting retention periods and defensible disposition, see the retention and disposition topic hub.