Texas Log of Records Retention Requirements
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How to fill out Log Of Records Retention Requirements?
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FAQ
12 years after case closed or issuance of last abstract of judgment or execution. By law Texas Property Code, Section 52.006 and Civil Practice and Remedies Code, sections 31.006 and 34.001.
In the case of a court with one judge, the records custodian is the judge of the court. Judicial records are open to the public unless exempt from disclosure, and where a respondent does not raise exemptions and the special committee cannot conclude any apply the records must be released.
A retention period (associated with a retention schedule or retention program) is an aspect of records and information management (RIM) and the records life cycle that identifies the duration of time for which the information should be maintained or "retained," irrespective of format (paper, electronic, or other).
As a general rule of thumb, tax returns, financial statements and accounting records should be retained for a minimum of six years.
Typically, most Texas court cases can be accessed by contacting the office of the record custodian in the court where the case was filed. Contact details for Texas courts can be obtained via this directory. Several Texas courts also provide members of the public with online access to court records and information.
It's largely agreed across the profession that the minimum legal document retention period should be at least six years for most types of record, as this is the primary limitation period under the Limitation Act 1980. However, other legal documents need to be kept for 15 years or more.
To be on the safe side, McBride says to keep all tax records for at least seven years. Keep forever. Records such as birth and death certificates, marriage licenses, divorce decrees, Social Security cards, and military discharge papers should be kept indefinitely.
Most bank statements should be kept accessible in hard copy or electronic form for one year, after which they can be shredded. Anything tax-related such as proof of charitable donations should be kept for at least three years.
Period of Limitations that apply to income tax returns Keep records for 7 years if you file a claim for a loss from worthless securities or bad debt deduction. Keep records for 6 years if you do not report income that you should report, and it is more than 25% of the gross income shown on your return.
Keep records for 3 years from the date you filed your original return or 2 years from the date you paid the tax, whichever is later, if you file a claim for credit or refund after you file your return. Keep records for 7 years if you file a claim for a loss from worthless securities or bad debt deduction.
