Introduction A farmer, like other taxpayers, must keep records to prepare an accurate income tax return and determine the correct amount of tax. This chapter explains why you must keep records, what kinds of records you must keep, and how long you must keep them for federal tax purposes. Tax records are not the only type of records you need to keep for your farming business. You should also keep records that measure your farm's financial performance. This publication only discusses tax records. For information on financial recordkeeping, you may want to get a copy of Financial Guidelines for Agricultural Producers. You can order it from Countryside Marketing, Inc., by calling 1-630-637-0199 or you can write to: Farm Financial Standards Council PMB 316 1212 S. Naper Blvd., #119 Naperville, IL 60540 You can also download the publication at www.ffsc.org.