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Saturday, May 25, 2013

How many years should I keep my Ohio individual income tax records?

Q: How many years should I keep my Ohio individual income tax records?

A:
If you're paying state income taxes, the time you need to keep records will depend on state law.Some states can look back further than the IRS. California and Arizona, for example, have a four-year statute of limitations; Montana has a five-year statute. The period for investigating if the return under-reports income or falsifies data may also be longer.Best to check with your state tax authorities to get specifics.


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