how long do you keep record of insurance audits
The Colorado Employment Security Act (CESA) 8-72-107 requires that all records must be open for inspection so that the records may be audited and verified at any reasonable time and as often as necessary. You are required to keep work records for a minimum of five years. More about employer audits>.
Length of time to keep, and why:Seven years. 1  The IRS has three years from your filing date to audit your return if it suspects good-faith errors. 2  The three-year deadline also applies if you discover a mistake in your return and decide to file an amended return to claim a refund.