Colors of the Rainbow and Their Meanings. The rainbow is a beautiful natural phenomenon; knowing the significance of each of the colors of the rainbow makes it even more beautiful. While Nature or God has created this glorious natural phenomenon; philosophers have given a meaning to its colors.
Minimum Length of Time. Keep the records and papers for any settled estate for at least seven years, if an estate tax return was filed. That is the Internal Revenue Service recommendation for any financial transactions. Under IRS rules, that is the end of the statute of limitations for any kind of auditing.
Most business owners donât know how long they should hold on to old records. According to the IRS, hereâs how long you should keep those records:Permanently: 1  general ledgers and journals. 2  payroll records, including W-2s, 940s, 941s. 3  year-end financial statements. 4  tax returns and supporting documents.ost business owners donât know how long they should hold on to old records. According to the IRS, hereâs how long you should keep those records: