Home |IRS Tax Return | During an IRS audit, is it possible for the IRS to request physical receipts from as far back as five years ago? Is there a specific requirement regarding how long individuals should retain their receipts for tax-related matters?

During an IRS audit, is it possible for the IRS to request physical receipts from as far back as five years ago? Is there a specific requirement regarding how long individuals should retain their receipts for tax-related matters?

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Robert James, 20+ years of experience in IRS matters
Answered on September 19,2023

Statute of limitations is 3 years, 6 if you have significantly under reported your tax due, no limit for fraud. So, if you are honest, and don’t screw up your books, 3 years is the most they can go back on you requesting records.

You can scan physical receipts and store them on a hard drive, just make sure you back them up in at least one other place. The best thing is to be organized about it, and then if you do get asked for something it’s easy. Also, the more organized you are, the cheaper your tax return will be to prepare. Disorganization = money lost.

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