Documents to shred and documents to keep after tax season - Embassy RMS

January 14, 2020

 

At Embassy RMS we know that 2020 is just beginning, but here’s a reminder that tax season is right around the corner! Here’s a quick guide for documents you should destroy after filing taxes and documents to keep. 

 

Documents to destroy after filing your taxes:

 

1. Any documents that are past the recommended retention period.

2. Documents that have been converted into a digital file should also be destroyed. However keep in mind that old devices need to be properly disposed of!

3. Paid out loan documents.

4. Any notes that have confidential data written down, such as passwords or phone numbers.

5. Any file or document that has names, addresses or other private information.

6. Documents that have no use or purpose any more should be shredded including sales receipts, old insurance papers, credit card offers, ATM receipts and expired warranties. It’s a good idea to get into the habit of shredding documents as soon as they are no longer needed. 

 

Documents to keep locked and stored after filing your taxes:

 

1. Any document that provides evidence of deduction claims. Including support payments, charitable contributions, mortgage interest payments and retirement plans to name a few.

2. Copies of previous tax returns should be stored until their outlined retention period.

3. Pension plan information and any estate-planning.

4. Automobile titles and home deeds.

5. Records such as birth and death certificates, citizenship papers, marriage licenses, divorce decrees, social insurance numbers and military discharge papers.

6. And documents that support an item of income or credit on the tax return such as credit card statements, cancelled checks and other proofs of payment.

 

Give us a call at (800) 717-1443 to get started on storing and shredding your documents!

 

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