TAX Extensions due FRIDAY, OCTOBER 15th!

All individual tax returns are due this Friday, October 15th.

If you are waiting until the last minute, we recommend that you rethink that strategy.  Whomever you choose to prepare your taxes (and we hope it's us), be aware that there are several people waiting until the last minute.  The earlier you get your files to the preparer, the more time they have to work on them and double check for errors.

And, if you think that "ignorance is bliss"...think again.  The IRS will most certainly assess penalties to those that disregard the deadline.

Hurry in today or call us at 907-569-3873 and we'll get your taxes done the right way, which means peace of mind for you!

Human Resources - What Do You Know About Record Retention?

To scan or not to scan.  To keep, or not to keep.  To  secure, or not to secure.  These questions frequently arise when there is a change, be it from an internal audit, a change in leadership of the company, or new HR staff.  Below are some basic guidelines to help you discern if, when and how it’s appropriate to manage employee documents.

Generally, information regarding an employee that is job related should be kept in a personnel file. Consider the following as you build your employee personnel files:

·         Related to any decision to hire or promote

·                  Employment application

·                  Cover letter

·                  Resume

·                  Authorizations for background checks, drug tests, reference checks

·                  Job Titles

·                  Salary

·                  Employment Contract

·                  Completed I-9 from

·                  Signed W-2 forms

·                  FCRA notice and authorization

·         Change in salary or pay

·                  Classification

·                  Job Duties

·                  Hire Dates

·                  Records of internal job posting applications

·                  Goals and objectives

·                  Training records

·                  Promotions or transfers

·                  Performance evaluations

·         Discipline or termination of an employee

·                  Documentation of any disciplinary action or grievances

·                  Documentation relating to the termination of employment

·         Additional items

·                  Training records

·                  Acknowledgment of receipt of company handbook

·                  An At-Will disclaimer

·         Separate personnel file, removed from above file

·                  Records related to FMLA leave requests

·                  ADA and requests for reasonable accommodation

·                  Drug test results

·                  Medical records

·                  Worker’s compensation records.

Basic employee data that includes name, address, social security number, and birth date; records showing pay periods, daily and weekly hours, overtime, tips, deductions from pay, taxes withheld, fringe benefit payments and amounts and dates of wage payments; copies of employee withholding forms such as W-4 or W4-E; annual records showing total wages for each employee and amounts of taxable pay; documents showing the reason taxable pay does not equal total pay; amount paid into the state unemployment fund (including deductions from employee pay); and experience rating data must be retained for four years after payment, deduction of taxes or due dates of returns.

There are state and federal recordkeeping requirements concerning child labor, accidents and injuries and in some cases, the race, sex and age of workers.

When you build your personnel files, remember that there must be a file for each individual employee.  Additionally, under some civil rights laws, you may be required to keep on file a record of applicants that are NOT hired.

As for scanning and electronic storage of these records, as of now there are no known regulations against scanning all the components of an employee file to an electronic storage system; however, you must be diligent to ensure the security and privacy of those same records.

In 2004, congress passed an amendment to the Immigration and Nationality Act that permits the electronic completion and retention of I-9 forms. Any medical records must be maintained separately and confidentially to support HIPAA. It is the employer’s responsibility to be diligent about the security and confidentiality of all personnel records – even when it’s time to destroy the records when they are no longer needed.

Before you toss out records, be sure to assess which has a longer hold requirement; state or federal.  When in doubt, go for the longest time frame and you’ll not regret it.

For employers in the state of Alaska, record retention rules stipulate a length of three years in most cases.  Under the Alaska Human Rights Law, if an employer is being investigated for discrimination, the records must be kept the longer of three years or the duration of the investigation.  Again, when in doubt over state or federal applicability, go for the longest time frame.  For further reference, refer to AK Stat. 23.05.080, 23.10.100, 26.05.040, 23.20.105, 23.30.065, 23.05.080, 43-1-6; 8 AAC 04.280, 18.80.220 and 23.10.430