Every taxpayer shall retain all records necessary to compute his tax liability for a period of five years from the date of his return, or the date on which withholding taxes are paid. Failure to comply with this section shall result in the determination of tax by the Administrator being conclusive, so long as such determination is made to the best of the Administrator’s good faith ability under the circumstances.
(W. V. Ord. 1968-42. Passed 10-22-68.)