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Treasury May Require Bills From Ten Years Ago: How Long to Keep Them
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IRS may ask you for an invoice of ten years ago if the transaction continues to have tax effects in an exercise that has not yet been prescribed. The general period of tax prescription, that is, the time during which IRS can review your statement, is four years. But it is counted from the day following the end of the deadline to file the statement, not from the date of the paper. And there are several ways in which an old document is back alive.…
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