We have started our New Year's organization push. I've been hearing alot about putting music and files and such onto computer drives - jump drives or small hard drives.
I am wondering if that can be done with tax records? I keep lots more tax records than I need to and so I have boxes and boxes of them lying around. It just occured to me this week that maybe I could scan them onto flash drives and get rid of the paper. Has anyone else tried this and does anyone know how the IRS feels about it?
In reading thru their regulations, all I found was mention of keeping records on microfiche, so apparently the regulations have kept up with the computer age.
Any suggestions or ideas or anecdotes you can share about this subject? Thank you, Charlotte
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3 comments:
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I assume you know you only have to keep tax records for 7 years.. .
I'm wondering if it is worth the effort to do all that scanning. And then you;d have to have them indexed in some way in case you needed to find a specific thing. And you'd have to be sure to keep them in a format that continued to be readable, or convert them to that new format every couple years. And then be sure that your current computer could still read them. And maybe you would need to be able to give them to the IRS in a form they could read? Sounds like a lot of complexity to me. If you were going to the effort of scanning and indexing them all, couldn't you just sort through and winnow them down so that they didn't take so much room?
And then maybe, if you didn't find all the above too intimidating, you could start saving them electronically when you do your 07 taxes. Then youwouldn't be adding to the paper files and over itme they woudl disappear.
Me, I don't think I would have enough faith that I could still read and recover them in 7 years.
Love you much, Sandra
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