Around 2010, the IRS instituted a policy to use electronic records of a taxpayer when examinations of returns are conducted by the Small Business/Self Employed Division. It is now the standard when the IRS audits a business. Are you prepared for this request? Do you know if your client’s software has the ability to restrict dates and data as to not give information that is not under review to the examiner? If it doesn’t, could you be subject to legal action from your client for providing too much information to the IRS? Discuss how to prepare for an IRS request for electronic records and how to prepare our clients for such an examination.
December 05, 2018
Georgia Society of CPAs
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