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Record Keeping Requirements For Employment Taxes + IRS Help

March 31, 2016
Written by: Jim Magary

 

Fresh Start Tax

 

Employment Tax Recordkeeping

 

You should Keep  all records of employment taxes for at least four years after filing the 4th quarter for the year.

These should be available for IRS review. Records should include:

• Your employer identification number.

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

• Amounts of tips reported.

• The fair market value of in-kind wages paid.

• Names, addresses, social security numbers, and occupations of employees and recipients.

• Any employee copies of Form W-2 that were returned to you as undeliverable.

• Dates of employment.

• Periods for which employees and recipients were paid while absent due to sickness or injury and the amount and weekly rate of payments you or third-party payers made to them.

• Copies of employees’ and recipients’ income tax withholding allowance certificates (Forms W-4, W-4P, W-4S, and W-4V).

• Dates and amounts of tax deposits you made.

• Copies of returns filed.

• Records of allocated tips.

• Records of fringe benefits provided, including substantiation.

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