We often receive questions about record retention, so let's take a moment to clarify what you need to know. Overall, the Federal law requires you to maintain copies of your tax returns and supporting documents for three years. This 'three-year law' leads many to believe that this 3-year period is set in stone and all-inclusive, but it is NOT.

Repeal Dates of Various Energy Credits and IncentivesCreditRepeal Date IRC §25E Previously Owned Clean Vehicle Credit Repealed for vehicles acquired after September 30,2025 (OBBA §70501; IRC §25D(g)) IRC §30D Clean Vehicle Credit Repealed for vehicles acquired after September 30,2025 (OBBA §70502; IRC §30D(h)) IRC §45W Qualified Commercial Clean Ve

The One Big, Beautiful Bill Act (OBBBA) was signed into law on July 4, 2025, and with it comes many new tax provisions that may directly affect you. There are many tax provisions contained in OBBBA beyond the ones we have highlighted here.