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Idea of the Day

May 22, 2015

Spring cleaning for tax records

How long must you retain tax records related to your payroll? The Spring edition of the SSA/IRS Reporter (page 3) lists the time periods of note. For example, Employers must keep income, social security, and Medicare tax records for at least four years after the due date of the employee's personal income tax return (generally, April 15) for the year in which the payment was made.

Be sure to check the Featured Articles on my site -- new topics added regularly! You'll find a host of posts containing essential information about tax, finance, legal issues, and important business-related updates to help you in your business today.

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Stamps - Your Photos on Real U.S. Postage

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