It’s important for all tax practitioners to maintain a written document retention policy. A well-crafted and followed policy promotes efficiency, could assist the firm in the defense of a claim and establishes compliance with federal and state laws that dictate retention of documents.
Firms may need to consult with their liability insurance provider and/or legal counsel about their document retention policy.
Download and customize this template to document your firm’s policies.
Related Resources
Document Retention FAQs for Tax Practitioners —