Neil &  Company CPAs, PC

A Professional Corporation

1184 North 15th Street, Bozeman, MT 59715


Phone: 406-587-9239


August 2020

Document Management

Insights and Tips

Begin organizing financial paperwork by understanding how long you need to keep the following records, courtesy of the IRS, but you can also use it as a guide to reduce other financial records:

  • Three years for most records if you have reported all your income.

  • Four years for employment tax records.

  • Six years if you under-report at least 25% of your income.

  • Seven years if you filed a claim for worthless securities or bad debt.

  • Indefinitely for years when you didn’t file a tax return or filed a fraudulent one.

Now, put all of your insurance, investment and legal documents in a safe place and tell loved ones where they can find them.


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