Disaster Planning for Department of Revenue Taxes and Tax Documents
Preparing for an event that could cause damage to your business and
important documents is vital.
Protect your financial and tax records by following these simple
steps:
-
Use paperless recordkeeping for financial and tax records, if
possible.
-
If you have paper documents, secure important documents, and make
copies.
Taxpayers should place important paper documents (including tax
returns and employee payroll records) inside waterproof containers
in a secure space. Copies should be kept by a trusted person in a
location outside the area where the business records are kept. Scan
paper copies for backup storage on electronic media such as a flash
drive that provides security and portability.
-
Rebuild documents. Reconstructing records after a disaster
may be required for tax purposes, getting federal assistance, or
insurance reimbursement. Businesses who have lost some or all of
their records during a disaster can visit the Internal Revenue
Service’s
Reconstructing Records
webpage as one of their first steps.
-
Request copy of records from the Department of Revenue.
Request copies of tax returns filed with the Department by
submitting a Request for Copy of Tax Return
(Form DR 841).
-
Document valuables and business equipment. Current photos or
videos of a business’s contents can help support claims for insurance or
tax benefits after a disaster. All property, especially expensive and
high value items, should be recorded.
-
Create or update continuity of operations and emergency plans.
