Did you know that you are required to keep your payroll tax returns for 7 years?  We have a record retention policy on our website for your convenience:

https://leifjensenassoc.com/wp-content/uploads/2016/04/Record-Retention-Policy-Tabled.pdf

We had a client who was not aware of the requirements.  Especially when they closed down their operations, they used the full QB payroll service, but not for their entire final year.  So they were missing records and did not retain copies of the QB reports either.

When they receive notices from the IRS and IDOR about missing or perceived missing reports.  For the missing reports we had to assist in the creation of them from the reports that the client was able to get from QB after paying a fee.

We were able to get them to where they were in complete compliance with the tax authorities. But whomever does the payroll, you need to make sure that you have comprehensive records and that you maintain them even after you have closed operations for at least the 7 year time frame.

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