Do I need to keep my physical W-2, 1099, etc., if I have scanned them and saved them to my computer?

I always e-file my returns, and I'm trying to go paperless but want to confirm:

  1. Do I need to retain physical paper copies of my W-2, 1099, receipts, or any other tax related documents after filing my return, or is scanning them to my computer okay?

  2. Is the answer to the above true for everything, such as personal income, self-employed income, LLC documents, etc.? Ultimately if I don't have to keep any paper at all for the IRS, that'd be the ideal goal.

After you file

You should keep physical copies of all tax information for at least 7 years.    The IRS can ask for any supporting tax documentation for 3 years after the filing date but up to 7 years in some cases.  I always recommend that paper tax documentation be kept forever and let your heirs dispose of it (and even then I know of cases where heirs have used 30 year old tax returns to prove inheritances.)

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**