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How long should you keep bank statements and credit card statements?
I have heard that you need to keep bank statements? What about credit card statements? Also if you owe the IRS tax money, is there a statute of limitation?
2 Answers
- Anonymous8 years ago
The minimum time that financial institutions MUST keep records for is 7 years, so I think that would be a good guide. There is no statute of limitations on monies owed. These statutes apply to criminal offences only.
- Anonymous8 years ago
The correct answer is 7 years. The IRS can do whatever they want whenever they want no matter how long it takes to collect back taxes.
Source(s): Retired bill collector 35 years