The tax return retention period starts from which month?

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Multiple Choice

The tax return retention period starts from which month?

Explanation:
The retention period begins in January. For calendar-year filers, the tax year ends on December 31, so the clock for keeping records starts on January 1 of the following year. This means you count the required retention years from January of the new year onward. For example, if you need to keep records for seven years, you’d start in January after the year ends and keep them through December of the seventh year. The other months aren’t the start point because they fall within the tax year itself.

The retention period begins in January. For calendar-year filers, the tax year ends on December 31, so the clock for keeping records starts on January 1 of the following year. This means you count the required retention years from January of the new year onward. For example, if you need to keep records for seven years, you’d start in January after the year ends and keep them through December of the seventh year. The other months aren’t the start point because they fall within the tax year itself.

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