Forum Discussion

Naio's avatar
Naio
Explorer II
Jan 27, 2018

Where do you keep papers you might need someday (or not)?

Stuff like documents on the house you sold, old tax returns, etc. I have about 2 boxes of this kind of thing (after throwing out much more). Too much to bring with me. Currently in a closet at a relative's house, but wondering what others do.
  • Never scan and discard your W-4 forms from your employers Ever.

    I was very lucky several years ago. I had received a statement from the IRS estimating what I would receive at retirement based on my past earnings. The form listed all the years I had worked and the yearly income. I noticed that for 1983, the report stated 0 earnings. I had been working full time since 1970. I called the IRS and reported the error. They told me that the only way to prove that I worked that year was to provide them with my original W-4 form for that year. They told me that they would not accept copies of the W-4. It had to be the original.

    Thankfully, I had kept my tax returns with the attached W-4 form even though it was over 30 years ago. I would have lost a whole years worth of earnings towards my retirement if I hadn't had these forms. The IRS couldn't believe I still had it. They told me that most people lose the earnings for the year because they threw away their old tax returns.

    Whatever you do, keep your W-4 forms safe. My yearly statements from the IRS had always been correct but then one years earnings just disappeared.
  • SusanDallas wrote:
    Never scan and discard your W-4 forms from your employers Ever.
    I think you mean W-2, if you're talking about earnings. I don't think I have a single one.
    SusanDallas wrote:
    They told me that they would not accept copies of the W-4. It had to be the original..
    That figures.