How long should you keep receipts for taxes?

The short answer: 3 years for most records

The IRS ties record-keeping to the “period of limitations”: the time in which you can amend a return to claim a credit or refund, or the IRS can assess additional tax. For most returns, that’s 3 years. So if you filed your 2025 return in April 2026, keep the receipts behind it until at least April 2029.

If you file a claim for a credit or refund after you file your return, keep records for 3 years from the date you filed the original return or 2 years from the date you paid the tax, whichever is later.

When you need to keep records longer

The IRS lists several situations with longer periods:

• 6 years if you don’t report income you should have, and it’s more than 25% of the gross income shown on your return.
• 7 years if you claim a loss from worthless securities or a bad debt deduction.
• At least 4 years for employment tax records, from the date the tax is due or paid, whichever is later. This applies if you have employees.
• Indefinitely if you don’t file a return, or if you file a fraudulent return.

Property records: keep them until after you sell

Records for property, such as a rental home, a vehicle or major equipment, should be kept until the period of limitations expires for the year you dispose of it. You need them to work out depreciation and your gain or loss when you sell.

In practice, that means keeping purchase and improvement receipts for as long as you own the property, and then for at least 3 more years after the tax year in which you sell it.

What a good receipt shows

IRS Publication 583 describes supporting documents as the records your business transactions create: sales slips, paid bills, invoices, receipts, deposit slips and canceled checks. For expenses, your documents should show the amount paid and that the amount was for a business expense.

Proof of payment alone, such as a bank statement line, doesn’t establish that you’re entitled to a deduction. Keep the receipt or invoice that shows what you bought as well. For meals and travel, Publication 463 asks for evidence of the amount, date, place and essential character of the expense.

Are digital copies of receipts OK?

Yes, as long as they’re complete and legible. The IRS says the same requirements apply to electronic records as to paper ones: your system must be able to store, preserve, retrieve and reproduce them in a legible format. Publication 583 points to Revenue Procedure 97-22 for the detailed rules on electronic storage.

Photographing receipts has a practical advantage too. Receipts printed on thermal paper can fade within months, and a clear photo taken on the day doesn’t.

Check non-tax reasons before you throw anything out

Before discarding records you no longer need for taxes, check whether you need them for anything else. The IRS notes that your insurance company or creditors may require you to keep them longer than it does. Warranties, leases and loan documents often have their own timelines.