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Category: Tax
Satisfied Customers: 10877
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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How long are you required to keep 941 records?

Customer Question

How long are you required to keep 941 records? I am requesting documentation from 2008 from a business. Should they still have these documents?
Submitted: 3 months ago.
Category: Tax
Expert:  Lane replied 3 months ago.
sorry, no. Although, the best practice would be to keep for much longer (because of the lack of any real statute of limitations on the trust fund penalty – penalty for not paying payroll taxes withheld from employees). IRS only recommends four years. See this: