
Years ago, if you were in an audit, you were obligated to produce original receipts. If you didn’t have original receipts, you lost the deductions. Now that we are in the electronic age, the IRS recognizes the desire to go paperless. Therefore, the IRS now accepts legible and readable copies of your original receipts. The IRS has a Revenue Procedure Code 97-22 that provides guidance to taxpayers for maintaining books and records by using an electronic storage system. Records … [Read more...]

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