TRS-Tax Return Storage is simple to use, easy to access and available 24/7
You can use TRS to store any documents that the IRS may require you to file. The items listed below generally are required to maintain good records relating to property until the period of limitations expires for the year in which you dispose of the property. You must keep these records to figure any depreciation, amortization, or depletion deduction and to figure the gain or loss when you sell or otherwise dispose of the property.
Depending upon your choice plan you will have up to 7 years or longer to store your tax returns with supporting documents to keep everything organized.
We recommend 3 years for general tax filing.
4 years-employment tax records
6 years-if you did not report all income
7 years -claims or securities
Longer than 7 years for most Insurance companies
Keep employment tax records for at least 4 years after the date that the tax becomes due or is paid, whichever is later.
Keep records for 6 years if 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 7 years if you file a claim for a loss from worthless securities or bad debt deduction.