What to Keep?


Don’t be too aggressive when removing clutter from your desk or office.

The IRS insists records of employment taxes be kept for at least four years, and files should include:

Amounts and dates of all wage, annuity and pension payments.

Names, addresses, Social Security numbers and occupations of employees, as well as their dates of employment.

Employee copies of Form W-2 returned as undeliverable.

The fair market value of in-kind wages paid.

Copies of employees’ income tax withholding allowance certificates.

Dates and amounts of tax deposits.

Copies of returns filed.

Records of allocated tips and fringe benefits provided, including substantiation.

Source: www.irs.gov.

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100th ANNIVERSARY

Black CPA Centennial, 1921–2021

With 2021 marking the 100th anniversary of the first Black licensed CPA in the United States, a yearlong campaign kicked off to recognize the nation’s Black CPAs and encourage greater progress in diversity, inclusion, and equity in the CPA profession.