How long to keep business records?

What is the name of your state? PA

I am a former business owner. How many years worth of records (i.e. receipts, invoices, daily reports, canceled checks, etc.) do I have to keep to be in line with IRS regulations? I've been told different numbers by people who should know. Some say 5; some say 7. What is the true answer?????

Thanks in advance for your time.

3 years from the due date of the return or from the last day you paid taxes for that year, whichever is later.

Thanks, abezon!

Thanks for taking the time abezon.