the act or action of a person or thing that walks: Walking was the best exercise for him. 7. the manner or way in which a person walks. 8. the state or condition of the surface, terrain, etc., on which a person walks: The walking is dry over here.
You owe additional tax and situations (2), (3), and (4), below, do not apply to you: Keep records for three years. 2. You do not report income that you should report, and it is more than 25% of the gross income shown on your return: Keep records for six years. 3. You file a fraudulent return: Keep records indefinitely.
I am often asked how long one should keep tax records. Naturally, the answer is not cut and dried. For example, the IRS states that you must retain your tax returns and all supporting documents including bank statements for a minimum of three years, which is generally how long they have to audit a tax return. If you live in a state that levies an income tax, the rule is generally expanded to four years.