Original Content: Business Upside
Payments made to employees form the database of paycheck records, also known as payroll records consisting of documents and information about employee details, paychecks, and taxes. According to US federal laws, organizations must retain payroll records for three years and four years is the retention time for payroll tax records like unemployment taxes. States like New York stipulate retention of some payroll records for six years, the same for the Employee Retirement Income Security Act.