Record Retention & Phishing Scam

SKR+Co Tax Alert

Records Retention and Phishing Scam

July 28, 2011

Records Retention - How long do we need
 to keep them?

Organizing, filing, and retaining old records is a burden for many businesses, not to mention individuals. As we move into a more "paperless" society, how do we determine what warrants taking up valuable office and storage space and what does not?Records should be preserved only as long as they serve a useful purpose or until all legal requirements are met. To keep files manageable, it is a good idea to develop a schedule so that at the end of a specified retention period, certain records are destroyed.

At Stockman Kast Ryan + Co., we have developed a Records Retention Schedule we think you will find helpful. Although it doesn't cover every possible record, it does cover the most common ones. As always, please feel free to ask us should you have specific questions or concerns.

To see or download our Tax Records Retention Schedule, Click Here.

Beware of the latest phishing scam!

Several of our clients have recently brought to our attention emails they received that look authentic and appear to be coming from the IRS. We want you to know that the IRS does not initiate taxpayer communications through email.

What is phishing?

Phishing is a scam typically carried out by unsolicited e-mail and/or websites that pose as legitimate sites and lure unsuspecting victims to provide personal and financial information.

All unsolicited e-mail claiming to be from the IRS should be reported to phishing@irs.gov.

For tips on what to do if you receive such an email, Click Here.

To see an example of such an email, Click Here.