The U.S. Department of Labor (DOL) has extended the effective dates of its model Employer CHIP Notice, General Notice of COBRA Rights, and COBRA Election Notice through December 31, 2019. Previously, these model notices expired on December 31, 2016.
No other changes have been made to these notices. For the latest guidance regarding these notices, please visit the DOL's Children's Health Insurance Program Reauthorization Act and COBRA Continuation Coverage webpages, or contact the DOL directly at 1-866-487-2365.
Keeping good records not only makes tax filing easier and faster, but it can also help you monitor the progress of your business, prepare your financial statements, and support items reported on your tax returns. Here are three simple tips from the IRS to help you get organized:
1. Save Certain Business Records
The following are some of the types of records you should keep:
The following information should be available for IRS review:
Business owners should generally keep all employment-related tax records for at least 4 years after the date that the tax becomes due, or after the tax is paid, whichever is later. The length of time you should keep other documents depends on the action, expense, or event which the document records.
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