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How long should you keep pay stubs or phone bills?

I'm trying to clean up my files for the new year. I'm just wondering how long I should keep things on file. I know to keep taxes for 3yrs. Thank you.

I keep pay slips and check book stubs for 7 years. Receipts for major items, 5 years and utility bills for one year. I found it useful and manageable.

Federal tax can be audited for up to 7 years.. so not sure what you are referring to with 3yr. If you keep the W2's provided by your employer, receipts for itemized deductions, interest/dividend/capital gains forms received from your bank and investment brokers, receipts for other income (eg. rental property, etc.) that should do it.

The only phone bill I regret not keeping was the one where I cancelled the service and returned phone equipment.

The bill showed that the equipment had been returned and I threw both it and the receipt away.

2 months later, I got a bill claiming I hadn't returned the equipment and it was months before I got them to stop billing me.

I save 2 paystubs a year--the final one that goes with the W-2 and any that show when I got a raise.

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