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Re: [802SEC] Deadbeat rule change proposal

At 20:12 05/03/2003 -0800, Bill Quackenbush wrote:
>Bob Love has suggested a "statue of limitations".  While I am not a fan
>of letting the basters off the hook, a window of maybe 5 or 7 years
>might be useful to 802 in that it limits the length of time we need to
>maintain our records.
>Comments please.

Does US law have a statute of limitations on debt? Not clear to me that we 
would want to vary that. However, the pragmatic point that we might not 
want to keep records longer than X years is reasonable.

How long are we required to keep records for other purposes (e.g., IRS 
requirements)? How long do we actually keep records for?