How long should you retain previous tax returns according to IRS recommendations?

The Internal Revenue Service (IRS) recommends retaining your tax returns for three years after the filing date. This period is considered sufficient in case the IRS decides to audit your return or if you need to amend it. The three-year timeframe allows the IRS to review your tax filings while also providing you with adequate time to gather necessary documentation for any future inquiries or adjustments.

While there are situations that may require longer retention, such as if you have not reported income that you should have or if you file a claim for a refund after the original filing period, the standard guideline is three years. This is a practical duration for most taxpayers, balancing the need for record-keeping with the potential for audits or amendments.