Once you have filed your tax returns, it is not the end of the story. The IRS is given time to peruse your tax documents and contact you for an audit if warranted. And that does not have to be within the same tax year. And should the IRS require an audit from you, you have to comply. You will be given notice by mail that your case has been flagged for an audit. If that happens, you have to reply to the IRS’ letter and give your full cooperation. The audit may be done in person or sometimes over the phone. This will be arranged by the IRS agent. Click here to read or watch more IRS Help resources.
So because of the possibility of an audit after the current tax year, it is important to keep records of your tax returns and all supporting documents for at least a period of time after you have filed them. But for how long should you do so?
Read more about how long to keep your tax returns.