All Points Mobile Shredding Blog

Tax Season 2023: What You Need to Know

Tips on What Docs to Save & What to Shred

Tax season is almost here and with it comes the task of determining which documents you need to keep and which ones can be safely shredded. With so many different forms and documents, it can be difficult to know what to keep and what to toss. Here’s a quick guide to help you.

What Documents Can Be Shredded?

Any document that contains personal information such as your social security number, bank account numbers and credit card numbers should be securely shredded. This includes any old tax returns that are no longer needed, as well as any supporting documents such as W-2 forms, 1099 forms and bank statements that are over 7 years old. If you receive paper pay stubs, you can shred them at the end of the year after you’ve ensured they are accurate. The following documents should be shredded once you’ve filed:

  • Documents that have passed their expiration period
  • Documents that have been uploaded/saved digitally
  • Any notes that contain passwords or other personal information
  • Receipts that are no longer relevant (ATM receipts, expired warranties, etc.)

What Documents Should be Saved?

During tax season it’s important to keep certain documents that support your tax return. Once you’ve filed, here are the items that you should keep:

  • Any paperwork that supports a deduction or credit: Receipts, credit card and bank statements, etc.
  • Deduction claims: Mortgage interest payments, retirement plan contributions, support payments, charitable contributions
  • Home improvement projects: Receipts from any improvements on properties owned
  • Pension plan and estate-planning records
  • Birth certificates
  • Social security cards
  • Marriage licenses and/or divorce records

Secure Shredding Is Key

It’s important to note that once you’ve filed your taxes, the best way to protect yourself from fraud or ID theft is to shred all documents that have been saved digitally or are no longer needed. You should keep your tax return in a safe place if you choose not to save it digitally and retain it for at least three years and up to seven, depending on your situation. It is also recommended that you keep your W-2s and 1099s for at least three years–these can be scanned and saved, then shredded to prevent theft.

Tax season is typically a stressful time for many people. Following these tips on which documents should be kept and which ones you can safely shred can help alleviate some of the tension and make the process easier.

All Points Mobile Shredding provides mobile shredding at your home or office. Our state-of-the-art shredding trucks perform the shred onsite, allowing you to witness the entire process. We also provide a certificate of destruction, giving you added peace of mind that your confidential documents have been permanently and securely destroyed. Give us a call today or complete the form on this page to get a quick quote.

Dawn Connelly

Dawn is the vice president of All Points Mobile Shredding. All Points Mobile Shredding is a family-owned and operated on-site document destruction company that has been serving the Treasure Coast, Palm Beaches, and surrounding areas since 1994.

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