Skip to comments.IRS.GOV "If You File A Fraudulent Return, Keep Tax Records Indefinitely..." (
Posted on 07/08/2010 8:14:31 AM PDT by Robert A Cook PE
The following are the IRS official record retention requirements. Please remember to follow them explicitly when you file a fraudulent tax return; or if you forget to file a tax return, remember to file your records indefinitely.
"Note: Keep copies of your filed tax returns. They help in preparing future tax returns and making computations if you file an amended return.
1. You owe additional tax and situations (2), (3), and (4), below, do not apply to you; keep records for 3 years.
2. You do not report income that you should report, and it is more than 25% of the gross income shown on your return; keep records for 6 years.
3. You file a fraudulent return; keep records indefinitely.
4. You do not file a return; keep records indefinitely.
5. You file a claim for credit or 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.
6. You file a claim for a loss from worthless securities or bad debt deduction; keep records for 7 years.
7. Keep all employment tax records for at least 4 years after the date that the tax becomes due or is paid, whichever is later.
We don’t need no steenkin’ Statute of Limitations.
>> So, just to be perfectly clear ... How long is the definition of “indefinitely” defined as?
Oh, I understand “indefinitely”; that’s clear enough.
My question would be how exactly the IRS defines “fraudulent”. ;-)
Two words. Flat Tax.
If you set out to commit a felony, you should probably be aware of the law. Just sayin’.
The statute of limitations has always been 7 years. Three years if no funny business is suspected, and 7 years if it is. So I have always kept my full back records for 7 years.
If they are serious about this one, all hell will break loose. Because I would imagine that 99% of taxpayers have been following the law and keeping their records for 7 years.
The Sun does not have enough mass to explode as a supernova. Instead, in about 5 billion years, it will enter a red giant phase, its outer layers expanding as the hydrogen fuel in the core is consumed and the core contracts and heats up. Helium fusion will begin when the core temperature reaches around 100,000,000 K and will produce carbon, entering the asymptotic giant branch phase.
Earth's fate is precarious. As a red giant, the Sun will have a maximum radius beyond the Earth's current orbit, 1 AU (1.5×1011 m), 250 times the present radius of the Sun. However, by the time it is an asymptotic giant branch star, the Sun will have lost roughly 30% of its present mass due to a stellar wind, so the orbits of the planets will move outward. If it were only for this, Earth would probably be spared, but new research suggests that Earth will be swallowed by the Sun owing to tidal interactions. Even if Earth would escape incineration in the Sun, still all its water will be boiled away and most of its atmosphere would escape into space. Even during its current life in the main sequence, the Sun is gradually becoming more luminous (about 10% every 1 billion years), and its surface temperature is slowly rising. The Sun used to be fainter in the past, which is possibly the reason life on Earth has only existed for about 1 billion years on land. The increase in solar temperatures is such that already in about a billion years, the surface of the Earth will become too hot for liquid water to exist, ending all terrestrial life.
So the safe answer is 5 billion years. If you like to live dangerously, you can consider disposing of your tax records after one billion years, when all life on earth is expected to be extinct. But I wouldn't recommend it.
“The” + “IRS” = “Theirs”
This crowd really keeps you on your toes, doesn't it.
The IRS wants you to keep better track of the felonies you commit against them ,,, a breech of the fith amendment against self incrimination ,,, right ??? This is halarious .
The burden of proof should always be the responsibility of the accuser I thought .
That’s one word too many:
Flat Tax is an Income tax. Original income tax in 1913 started out as a Flat Tax. Flat Tax like a cancer always metastacizes back to a mess like we have today.
Five major tax reforms since 1913 have always made the tax code ‘flatter’, and with 10-15 years it’s back to insanity.
Your Flat Tax support is supporting a cancer tumor on society waiting to spread to the whole body.
Wake up, smarten up like the rest of us former Flat Taxers that have seen the light!
One Word: FairTax!
No, the IRS will build its case against you without needing you to incriminate yourself . . . this is simply the IRS’ way of warning you that, if you plan on doing something it thinks is shady, be prepared to defend yourself.
Even if it means keeping a lifetime of tax returns. Right.
I will definitely read the info at www.fairtax.org too. I’m open to anything that is better than the mess we have now. Thanks for the info.
The + Rapist = Therapist
On the other hand, if I want to effectively 'defend myself' against some future IRS acccusation I am compelled to keep every single one of my tax returns forever whether I'm guilty of knowingly committing a felony or not. Aren't I?
My ultimate goal is to earn no “taxable” income.
My ultimate goal is to earn no “taxable” income.
Who is John Galt?
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