If you have an efficient record-keeping system, it can make finding information a lot easier. The IRS has no particular standards or requirements for how you organize and file material, neither do state taxing authorities; their only concern is that when they want to see a document, you're able to deliver it promptly.
IRS Publication 552 offers detailed hints and advice on which records to keep, whether they're hard copy or in electronic form.
If you use a TurboTax CD or download product, your tax return will be stored on your computer. It's a good idea to also print a copy for your records and keep a backup file on an external drive or disc.
If you use TurboTax Online to prepare your taxes, we'll keep a secure copy of your tax return for you to access online.