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How to Handle the Death of an Employee in Your Small Business

Patriot Software

Do you offer benefits like health insurance, life insurance, and retirement plans? Keep payroll records for at least three years. Hang onto other documents, like a copy of COBRA or other benefits paperwork. Do not report the wages on Form 1099-MISC if you reissue an uncashed check.

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10 Easy Ways to Sabotage Your Payroll Process

Insperity

Online payroll processing, for the most part, can also help with that. Depending on which government agency you’re dealing with, payroll information must be stored for a specific period of time. Documents such as timesheets, canceled checks and W-4 forms should be retained for four to six years.

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