What records do I need to keep in case of an IRS audit?

The IRS recommends keeping records that support items shown on your tax return. Essential records include: W-2s and 1099s (keep until the statute of limitations expires), bank and investment statements, receipts for deductible expenses (medical, charitable, business), mortgage interest statements (Form 1098), property tax records, business income and expense records, mileage logs for vehicle deductions, home office measurements and utility bills, records of estimated tax payments, and prior-year tax returns. For specific deductions: charitable donations over $250 require written acknowledgment from the organization, non-cash donations over $5,000 require a qualified appraisal, business meals require date, amount, business purpose, and attendees, and home office deductions require calculation of dedicated space. Keep records for at least 3 years from filing date (standard audit period), 6 years if you underreported income significantly, 7 years if you claimed a loss from worthless securities, and indefinitely if you didn't file or filed fraudulently. Digital records (scans, photos of receipts) are accepted by the IRS. Consider using a receipt tracking app for real-time documentation.