Business owners and tax professionals have been advocating that the IRS begin accepting taxpayer records in electronic format instead of continuing to use traditional paper books and records for audits.

The IRS has recently completed training for revenue agents on QuickBooks® Premier Accountant Edition 2010 software.  The IRS agents were trained and are now being encouraged to request and accept taxpayers’ QuickBooks files, as appropriate. The IRS is also able to accept electronic records from Peachtree® accounting software. Electronic files should be provided on a CD, DVD, or flash/jump drive to ensure security of the files.

Obtaining the taxpayer’s accounting records in electronic format provides significant advantages:

• Reduces taxpayer burden because taxpayers don’t have to print records stored electronically.
• Provides a complete set of the taxpayer’s accounting records, decreasing the number of items included in the initial document request and follow-up requests.
• Increases efficiency of the revenue agent’s analysis and testing of the books and records, resulting in faster audit resolution.

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