checkbook question

How long are you supposed to keep your check duplicates (carbon copy) for? I have so many builidng up...... We have ones from 4 years ago, still...... Wouldnt it just be ok to shred them once the check clears?

Theoretically, I believe that you are supposed to keep those records for 7 years, for IRS purposes.

tigger, I would think so. Doesn't the bank keep copies of all your cancelled checks? Maybe keep copies of checks you wrote for large purchases just in case there is a problem later.

Yeah my bank doens't even give me carbon copies..they just keep copies in their records.

The IRS "recommends" you keep all documents pertaining to your returns (cancelled checks included) for at least 10 years. However, what they don't tell you is this: ~if for any reason~ they suspect you have filed a fraudulent return, they may examine your documents for as many years back as they choose. So, it behooves you to keep cancelled checks that pertain to your returns forever. But I would thin out what you no longer needed (or stuff that wasn't relevant to your return) and throw those away.

Hope this helps,

Gaye

If its just the carbons, don't bother. The IRS won't accept those, anyway. If you need copies, you'll have to get photocopies, from the bank. Go ahead and have a shredding party! It makes great mulch and/or cat litter.