Dispose Initials Log For Free

Ing to the IRS, you should keep your records for three years from the date you file your original return or two years from the date you paid the tax. Yet, the IRS may ask about returns filed in the last three to seven years, which is why it's always a good idea to keep your bank statements for longer.

Ing to the Federal Trade Commission, all documents with sensitive information, such as credit card numbers and bank account information, should be shredded to protect your identity from theft. Old bank statements and many other types of documents fall under this category.

Confidential documents (bills, statements, documents showing your address) should be cross-shredded. Shred only the confidential parts - the rest can be recycled.

Another solution if you don't want to shred each document one by one? Submerge your documents in water until they are pulpy and easy to destroy. You could do this by filling a plastic bag or trash can with water, or putting papers in the bathtub.

Methods of Document Destruction Burning Paper in a Fire Pit. ... Soaking Documents in Water and Bleach. ... Composting Sensitive Documents. ... Cutting or Shredding By Hand. ... Attending a Community Shredding Event. ... Hiring a Professional Paper Shredder Service to Destroy Paper and Sensitive Documents.

Shredding is a common way to destroy paper documents and is usually quick, easy and cost-effective. Many retailers sell shredders for use within your office or premises, enabling you to shred and dispose of the documents yourself.

Most bank statements should be kept accessible in hard copy or electronic form for one year, after which they can be shredded. Anything tax-related such as proof of charitable donations should be kept for at least three years.