How long should i keep bank statements

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The IRS and Tax Records

The Federal Deposit Insurance Corporation website recommends keeping any cancelled checks or bank statements pertaining to taxes for at least seven years. The IRS can come after you for significant tax under-reporting for that length of time. If you do your banking online, you might ask your bank to send you copies of tax-sensitive checks so you have a hard copy for your files.

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Source: ehow.com

Category: Forex

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