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Tax supporting documents. The documents you file with your tax return or use to prepare it, including W-2 forms, 1099s, receipts and expense records, “can usually be tossed after seven years ...
Once you've submitted your tax return to the Internal Revenue Service each year, the last thing you probably want to think about is how to store your tax records. But making these arrangements is...
The general rule is to keep your tax records for three years, but there are several important exceptions for when you might need to keep your tax records for a longer period as a taxpayer. Read on ...
The CRA is the largest organization in the Canadian federal public service by number of personnel, employing 54,933 people and has an operating budget of $5.1 billion [7] as of the 2018–19 fiscal year. The agency's headquarters are based in Ottawa, itself divided into five program branches, which directly support the CRA's core ...
The Income Tax Act, Part I, subparagraph 2(1), states: "An income tax shall be paid, as required by this Act, on the taxable income for each taxation year of every person resident in Canada at any time in the year." After the calendar year, Canadian residents file a T1 Tax and Benefit Return [5] for individuals. It is due April 30, or June 15 ...
Records life-cycle in records management refers to the following stages of a records "life span": from its creation to its preservation (in an archives) or disposal. While various models of the records life-cycle exist, they all feature creation or receipt, use, and disposition. [2]
Here are tips from accountants and personal-finance experts about what to save, what to throw away, how long to keep tax return-related materials, and how best to store these important documents.
Records management, also known as records and information management, is an organizational function devoted to the management of information in an organization throughout its life cycle, from the time of creation or receipt to its eventual disposition.