How many years does the IRS keep records from:
1. individual
2. private business
3. large business?
What cause do you have to show to have records for a lawsuit?
This question cannot be answered definitively. The IRS keeps different records for different periods of time depending on the complextiy of matters, any matters with controversies, returns that may be amended, and the amendment. I continue listng the possiblities but there is not uniform consitent patten of record keeping because the nature of the tax system.
Every taxpayers information is different which could present different recordkeeping requirements.
Phillip M. Smith Jr.
This is correct. Generally wage and income information is kept for 10 years, but as Attorney Smith points out, nothing is definite.
As far as the second part of your questions, I am not sure. It certainly isn't a tax questions and sounds more like a FL state civil litigation question.
Christopher Larson
The IRS generally purges its records after 10 years. However, this is their policy and not a law. Your second question regarding production of documents is vague. Try reposting it in the litigation section with more facts.
Unknown on the IRS keeping records, at least in public. But they don't have a problem, you do. Some records for proving basis in assets you must keep permanently, like what you paid for your house or a business asset. Bottom line, is keep records always. Especially estate and gift stuff. The burden is on the taxpayer..and it is not the IRS's concern...or problem
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