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lapin
Lv 5
lapin asked in Business & FinanceCredit · 8 years ago

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

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  • Anonymous
    8 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.

  • Anonymous
    8 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
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