Your Taxes are Done, Now What?
Whether you did your taxes yourself or took them to someone, you probably have a stack of paper for things you were saving but no longer need. This is also a great time to clean out your file cabinets of all the other documents you are needlessly saving. These documents left around pose a threat to your identity from a break-in as well as from people you know.
The IRS can audit your tax returns for three years but that increases to six years if you fail to report 25% of your income and there are no restrictions is you fail to file or file a fraudulent return.
Collect all of this paper and get it shredded to reduce your risk to identity theft.
Full retention schedule.