Several of our clients have asked if they can keep digital copies of their tax return documents on their computer in place of keeping the paper copies.
The IRS requires that you keep records to demonstrate how you have complied with that tax law. This documentation should support the information on your tax return and be available for examination as requested by the IRS. Recent guidance from the IRS states that keeping digital copies of this information is acceptable. So feel free to scan all your documents, but be sure to keep your digital information secure and backed up. For more information about how long to keep your tax records, click here.