how long should payroll records be kept
There is no time frame for the IRS to access tax and tax records must be kept indefinitely if you do NOT file a tax return, OR you file a fraudulent tax return. You must keep records for 7 years if you file a claim for a loss from worthless securities or bad debt deduction.You must keep all employment (payroll) tax records for at least 4 years after the date the tax becomes due or is paid, whichever is later. Click here for a detailed payroll record retention schedule.ou must keep all employment (payroll) tax records for at least 4 years after the date the tax becomes due or is paid, whichever is later. Click here for a detailed payroll record retention schedule.