Understanding Why You Might Need an Old Paystub
Whether you're a business proprietor or a small business worker, you will benefit from reading this article. Many people who receive paper checkstubs lose them or throw them away after a period of time. Some, in fact, never even manage to get them home from the office; they toss their pay stubs, either intentionally or inadvertently, before they leave their desks. Most of the time, this isn't a big deal. It does, however, become problematic when people find that they need their old paper paystubs for one reason or another.
If your business generates it's own paychecks in-house, or if you have an online system where employees can login and download past pay stub paper, this is no problem. If, on the other hand, you outsource your pay stub printing, it might be a lot of work to get an old check reprinted and sent to your workplace. The following paragraphs detail just a few of the situations that can lead people to need to access their pay stubs long after they were initially paid out.
Mortgage Lenders Often Need Proof of Income
When a person decides to buy a house, his or her mortgage lender often needs to see proof of income. Every bank has a different policy in regard to what this actually looks like. Often, for instance, banks need to see pay stubs from three to six months straight. This is one of the biggest reasons people need to access old paper paystubs. If you want to learn more about pay stubs, you can visit https://en.wikipedia.org/wiki/Paycheck#Electronic_paychecks.
Custody Battles and Divorces Can Be Vicious
In some cases, when people are involved in legal battles, such as divorces and custody disputes, they have to provide their presiding judge with their paychecks for a certain period of time. If the person involved in the case doesn't have his or her old paper checkstubs anymore, he or she may need to get new copies one way or another. In many instances, these fresh copies are kept by the court until the case is resolved in some fashion.
Accountants Sometimes Need These Documents
In some cases, but not always, certified public accountants and tax preparers need access to their clients' old paper checkstubs in order to complete their tax documents for the year. If this happens to you, you might have to figure out how to get all twelve of your paychecks printed and to your accountant before your taxes are due. Remember, you can always file for an extension if you absolutely have to. Know Why you need to keep copies of your pay stubs here!