What your receipts are worth in the US

Straight answers on business expenses, IRS retention periods, and return rights in the United States — with every tax code and statute linked and verified.

IRS & tax records

Retention periods, digital storage rules under Rev. Proc. 97-22, and what the IRS requires for Schedule C deductions.

Tax calculation worksheets, pen, and calculator arranged on a wooden desk.

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How long do you need to keep receipts for the IRS?

Three years — or up to seven for certain deductions. When the IRS clock starts, which business records to hold, and when digital copies are enough.

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A ledger book with cash, receipts, and accounting records on a tabletop.

Do you need receipts for expenses under $75 for the IRS?

The $75 rule applies only to specific travel and meal expenses. Why lodging and general supplies never qualify, and how to avoid an audit trap.

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Hand holding a smartphone camera above paper documents.

Does the IRS accept photos of receipts?

Yes, under Revenue Procedure 97-22. The four conditions digital receipts must meet, legibility standards, and when you can throw away the paper.

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Organized files, folders, and documents prepared for a tax audit review.

IRS audit with lost receipts: How the Cohan Rule works

What happens if the IRS audits you and receipts are missing. How the Cohan Rule works, where it fails under Section 274(d), and how to reconstruct records.

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A freelancer working at a desk with a laptop, notebooks, and expense receipts.

Schedule C receipt requirements: What records do sole proprietors need?

What receipts sole proprietors and 1099 contractors must keep. Contemporaneous logs, bank statements vs receipts, and how to prove Schedule C deductions.

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Warranties & returns

Magnuson-Moss rights, state return laws, and what counts as legal proof of purchase when you lost the receipt.

Monthly planner and retail transaction tracking schedule.

Can you return an item without a receipt in the US?

What US federal and state laws actually say about store returns, what counts as proof of purchase, and your rights under the Magnuson-Moss Warranty Act.

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Magnuson-Moss Warranty Act: Can a company void your warranty for missing receipts?

Can a manufacturer void your warranty if you lose the receipt? How the Magnuson-Moss Act, anti-tying rules, and implied warranties protect American consumers.

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Financial calculations with a pen and calculator documenting proof of purchase.

What counts as proof of purchase in the United States?

Bank statements, order confirmations, loyalty accounts, and card lookups. What counts as proof of purchase for returns and warranties in the US under the UCC.

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These guides are general information, not tax or legal advice. How we research and review them.