Spring cleaning: Time to tidy up in Payroll!

Before spring fever sets in for real, why not clean up your payroll records? Careful: Be judicious in your culling; the IRS requires you to keep payroll records for at least four years after employees’ 1040s are due. Here’s what you can get rid of:

• W-4s from employees who terminated prior to 2014
• W-2s that couldn’t be delivered to employees prior to 2014
• T&E reports and supporting documentation prior to 2014
• I-9 forms for employees who terminated in 2015 or earlier
• Lock-in letters for employees who terminated in 2016 or earlier
• Depending on state record retention requirements, garnishment documentation, new hire reports and unclaimed wages reports prior to 2008.

Idea: Consider scanning paper copies before shredding them.