How Long to Keep Business Tax Records

The main rule

Keep the records that support your income, your deductions, or your credits. Keep them until the time limit for that tax return runs out. The IRS calls that time limit the period of limitations.

The period of limitations is the time when you can still change your return to claim a credit or a refund — and when the IRS can still charge more tax.

One more rule about dates: if you file your return before the due date, the IRS treats it as filed on the due date.

What counts as a record?

A record is a paper or document that backs up something on your return. The IRS gives these examples: receipts, canceled checks, and other documents that support an item of income, a deduction, or a credit on a return.

How long to keep records

Find the line that fits your return. Keep that year’s records for the time shown.

Time limits from the IRS

Keep records for	When this fits you
3 years	The standard case. This is the rule for most returns, when none of the cases below fit.
3 years or 2 years	You file a claim for a credit or a refund after you file your return. Keep records for 3 years from the date you filed your original return, or 2 years from the date you paid the tax — whichever is later.
7 years	You file a claim for a loss from worthless securities, or a claim for a bad debt deduction.
6 years	You did not report income that you should have reported, and that income is more than 25% of the gross income shown on your return.
No end date	You did not file a return, or you filed a fraudulent return. Keep the records — there is no time limit.
At least 4 years	Employment tax records. Keep them for at least 4 years after the tax becomes due or is paid — whichever is later.

Property records

Keep records about property until the period of limitations runs out for the year you get rid of the property.

You need these records to work out depreciation, and to work out your gain or loss when you sell the property or get rid of it in another way.

Did you get property in a nontaxable exchange — a trade where no tax was due? Then keep the records on both the old property and the new property. Keep them until the period of limitations runs out for the year you get rid of the new property.

Keep copies of your filed returns

Keep a copy of each tax return you file. The IRS says those copies help you get future returns ready. They also help with the math if you later file a changed (amended) return.

Before you throw records away

When you no longer need records for tax reasons, do not throw them away yet. First check whether you must keep them longer for other reasons.

For example, your insurance company or your creditors may require you to keep them longer than the IRS does.

Where this comes from

Everything on this page comes from two pages on the IRS website, irs.gov. The facts were checked against those pages when this page was made, on November 2, 2026.

• IRS — “How long should I keep records?”
• IRS — Topic No. 305, Recordkeeping