The IRS has required that some business records and documents need to be kept for a minimum of 6 years. These are as follows;
-Accounts Payable Ledgers and Schedules
-Accounts Receivable Ledgers and Schedules
-Cancelled Checks
-Cancelled Stock and Bond Certificates
-Employment Tax Records
-Expense Analysis and Expense Distribution Schedules
-Expired Contracts, Leases