Should you keep those old statements? What about old tax returns?
Whether you are an individual or a business, you will find value in taking a look at this basic guide to record retention prepared by the Federal Taxation Committee of the Massachusetts Society of CPAs, Inc.
Please note that this guide does not cover every eventuality. If you have any questions about the need to retain a specific document, please be sure to consult with your tax advisor.
This information is intended for general informational purposes only. There are sometimes exceptions and special situations. Individual and organization’s record retention requirements may vary. We encourage you to contact your tax advisor for more specific information about your records and situation. Gray, Gray & Gray is not liable for any oversight, omission or legal action resulting from the use of this list.