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Document Shredding for Tax Season in PA, NJ, DE, & MD

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You should shred tax documents that the IRS doesn’t require to protect your identity and finances. Tax season document shredding is common, but you must identify the files you can safely dispose of and those you need to keep. Here’s an overview of tax document shredding guidelines to help you identify documents you should be shredding during the current or past tax seasons.

shredded tax papers

Before You Shred Your Tax Documents

The best document shredding services for tax season know what files to shred and keep. Some taxpayers assume you should shred everything once the taxes are filed. However, the IRS recommends retaining certain documents for years after filing. The standard IRS limitation period is three years, but it can extend to six years. This duration refers to the date before the filer or the IRS can amend tax returns.

The limitation period is six years in case you fail to report income that should be on the report and seven years if you claim losses from worthless securities or bad debt deductions. You shouldn’t shred the W-2 form, 1099 form, tax returns, receipts, and supporting documents. These documents might be required to claim a refund or credit or for an IRS audit. You should also preserve employment tax records for at least four years.

Tips For Shredding Tax Documents

Professional document shredding for taxes can help you prevent ID theft and other issues arising from unauthorized access to sensitive information. You can destroy paper pay stubs at the end of the year after comparing them to the W-2 form from your employer. Keep your tax records, including 1099 and W-2 forms, for at least three years, after which you can shred them and keep your tax return. Here are more document shredding tips for tax season you should know about:

  • Keep your IRA statements until you receive the year-end statements
  • Don’t shred the year-end statements for at least six years
  • Keep documents that support items of income or credit on tax returns, deduction claims, owned property improvement records, automobile titles, home deeds, and pension plan information
  • Shred old bills that have been paid off and receipts that aren’t related to taxes, warranties, and insurance

Secure Tax Season Document Shredding

Determining which tax documents to shred or retain can be overwhelming. One of the ways to ensure secure paper shredding for tax documents is through professional services. You can find experts to help you identify the tax documents to destroy and recycle the shredded particles. Professional tax season document shredding includes on-site and off-site shredding designed to protect your sensitive information from falling into the wrong hands.

Contact us to find out more about secure tax paper shredding services in PA, NJ, DE, & MD

FAQ’s:

  1. Should I Hire A Professional Shredding Service For Tax Season?

Yes. For tax season, you should hire a professional shredding service. Professionals can help you identify which documents to shred and which to keep. They’ll also help you shred and recycle the documents safely.

  1. What Is The Best Way To Organize Documents Before Shredding For Tax Season?

The best way to organize documents is alphabetically and based on the year. This way, you can quickly locate documents to shred and retain. You can also scan and keep the documents online for easy management.

  1. How Should I Shred My Documents For Tax Season?

You should shred your documents using a paper shredding machine, which makes it impossible to put the pieces together. The best way to do this is through professional tax season document shredding services.

  1. What Documents Should I Shred For Tax Season?

Secure document shredding for taxes can be used to destroy various documents, including tax returns that are beyond the period of limitations and bank statements. You should also shred any draft copies of your tax returns and canceled checks that are older than a year.

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