A storm can strike suddenly and it may occur when family members are in different places, so develop a family communications plan. Make a Ready kit for at least three days of self-sufficiency. Familiarize yourself with the terms that are used to identify a tornado hazard.
In most cases, you should plan on keeping tax returns along with any supporting documents (e.g., W-2s, mileage logs if you itemize, etc.) for a period of at least three years following the date you filed or the due date of your tax return, whichever is later.or instance, if you omit more than 25% of your gross income from your return, the IRS has six years instead of three to assess an additional tax. Also, if you file a fraudulent return or donât file one at all (we donât recommend either!), the statute of limitations never expires.
Rating Newest Oldest. Best Answer: The statute of limitations for auditing federal tax returns is 3 years and under certain circumstances 6 years. So the general recommendation is to keep the current year return, plus six past year returns, and all the supporting documentation. This makes 7 years. Some state tax laws have longer statutes of limitation and, therefore, sometimes a few additional years of returns and documents should be kept.