Money Matters
vlagrl35
member
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
? about tax papers
Does anyone know how long you should keep all our tax info? We have a box from every year in our basement - yes I'm one of those people that prefer paper copies of stuff. 1 of my projects to do before DD is on summer break is de clutter the basement storage. I was thinking getting rid of some of these tax boxes would be good. Next question - is there somewhere you can shred lots of papers 
Re: ? about tax papers
@hoffse probably knows for sure though.......
As for the paper shredding, I have my own shredder. Good enough in small batches. My bank does one of those free shred days a couple times a year, but I've never used it.
My mom had an old BBQ grill that used charcoal, she burned her stuff one year.
https://www.irs.gov/businesses/small-businesses-self-employed/how-long-should-i-keep-records
7 years covers the 6 year statute + the extra year it takes to actually file. It's overkill for most people though and extremely conservative. If you keep stuff for 7 years you should be good as long as you always file on time and aren't actively committing fraud.
If you want to declutter and still keep your records you can just scan everything. The IRS doesn't need originals. I don't keep paper copies of anything related to taxes.
Cautionary Tale:
At least keep the proof you filed. Forever...or at least scanned.
Not Federal, but I had the State of Louisiana come after me 14 years later for "not filing" in 2000. And...gee...how interesting they knew how much I owed for that year...yet...not how much had already been taken out of my check throughout that year.
I ended up paying over $1,000 of taxes I didn't owe because I no longer had ANY records from that year, including proof I had filed. They claimed the same thing for 2009, but I did have proof I'd filed for that year.
Then again, hopefully most of you don't live in a state that runs those kind of con games on their citizenry.