While artists like The Counting Crows are embracing the brighter sides of new distribution, file-sharing sites can still be bad news for established record labels and movie studios.
Similarly, if you claim special deductions and credits, you may need to keep your records a little longer than normal (for example, if you file a claim for a loss from worthless securities or bad debt deduction, you should keep those records for 7 years).
But not as bad as it sounds at first because of those 20 million taxpayers, only 3 million would have been ready to file before then anyway, says an IRS spokesperson.