Tax990 Knowledge Base

How long should an organization keep records for tax purposes?

An organization must retain all the necessary records to substantiate any part of income, deduction, or credit for 3 years from the date when the return is filed or when the return is due. In addition, certain records like determination confirming the organization's tax-exempt status, articles of incorporation, by-laws, and board minutes need to be retained permanently. Other than this, all employment tax records must be retained for 4 years.  

In addition to retaining records, Form 990 has to be made available for public inspection. To know more about it, click here.