Updated: July 2025
Gbooks retains your filed tax information and documents for a minimum of three years from the date of filing or the IRS return due date, whichever is later. This meets the minimum recordkeeping requirements of the IRS and helps support audit defense, tax resolution, and service continuity.
If you begin preparing a return in our system but do not complete it, the partially saved tax data will be stored until the end of the tax season. It will then be permanently removed unless completed and filed.
π What Gbooks Retains
- Copies of filed tax returns (Forms 1040, 1120, etc.)
- Signed engagement letters and authorization forms
- Uploaded supporting documents (e.g., W-2s, 1099s, Schedule K-1s)
π‘οΈ What You Should Personally Keep Beyond 3 Years
While Gbooks maintains your official return filings, you should personally retain the following records for longer in case of IRS audits, refund claims, or property sales:
- Asset purchase records: Keep records for homes, real estate, or equipment until 3 years after the year of sale or disposal, including depreciation schedules, purchase agreements, and improvements.
- IRA & retirement documents: Retain Forms 5498 and 8606 and contribution details for 7 years after withdrawal or plan closure.
- Stock or investment transactions: Hold onto brokerage statements and trade confirmations for at least 7 years.
- Bad debt and loss claims: Records for worthless securities or bad debt write-offs should be kept for 7 years.
- Audit red flag support: Mileage logs, receipts, expense summaries, and travel records used to support deductions should be kept for up to 6 years in cases where the IRS alleges underreporting.
π¦ Best Practices for Storing Tax Records
- Use a fireproof safe or secure digital storage (e.g., encrypted cloud drive)
- Organize each tax yearβs supporting docs into labeled folders
- Back up your data and inform a trusted contact where to find it
π€ Need to Send Us Records?
Upload scanned tax documents or notices securely via our portal:
β‘οΈ Upload Documents to Gbooks
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π Disclaimer:
This article is not to be taken as tax, legal, benefits, financial, or HR advice. Since rules and regulations change over time and can vary by location, consult a lawyer or HR expert for specific guidance.