Use of Electronic Media for Saving Tax & Business Records

Considering the use of Electronic Media for Saving Tax & Business Records? Whether you are starting a new business – or have an established business – you might be looking at how to improve your record keeping practices. If you have considered the use of electronic media for saving tax & business records you will also want to […]

Electronic Recordkeeping, Hard Copies and the IRS

Electronic Recordkeeping, Hard Copies and the IRS Even if your system crashes, you still must be able to RECONSTRUCT your records to their specifications. Do you know what they are?   Read about what you can and can’t do if you plan on storing your tax records electronically.  In many cases you need to keep hard copies – […]

Electronic Records Management Guidelines

Before you determine which digital media will meet your long-term legal and operational needs, familiarize yourself with the following key concepts: Digital Media Magnetic Media Optical Media Solid State Media Digital Media Capacity Media Life Expectancy Care and Handling of Digital Media Storage Options Performance Issues to Consider   Digital Media Digital data is stored on digital […]

How long should I keep records, and other business files

How Long Do You Really Need to Keep Your Financial Documents? Now that April 15 has come and gone, everyone is writing about tax information, records to keep, and records you can discard.  For some it’s just personal tax records.  For others, it’s personal and business documents.  However, before you go out and purchase electronic […]

Automated Records

Revenue Procedure 98-25; 1998-1 C.B. 689 Last Reviewed or Updated: 25-Nov-2013 The collections of information in this revenue procedure are in sections 8 and 10 of this revenue procedure. This information is required to ensure that machine-sensible records will constitute records within the meaning of § 6001. The collections of information are mandatory for a taxpayer whose machine-sensible records […]

Phishing and Scams

HOW TO IDENTIFY PHISHING AND SCAMS BEFORE THE DAMAGE IS DONE.   The scammers are out there still.  In fact, you may receive an email today from someone claiming that your business information was entered incorrectly for 2014 and to avoid costly fines, penalties, etc.,  click here, open this, do that. STOP!  DON’T DO IT. THE IRS […]


IRS repeats warning to taxpayers :  We don’t call you.  It’s a scam! Back in April we published their warning, and it seems it is getting worse.  We just received this bulletin. WASHINGTON — IR-2014-81- August 13, 2014 The Internal Revenue Service and the Treasury Inspector General for Tax Administration continue to hear from taxpayers who […]

IRS Reiterates Warning of Pervasive Telephone Scam

The Internal Revenue Service issued another strong warning to guard against phone scams targeting taxpayers IR-2014-53, April 14, 2014 WASHINGTON —The Internal Revenue Service issued another strong warning for consumers to guard against sophisticated and aggressive phone scams targeting taxpayers, including recent immigrants, as reported incidents of this crime continue to rise nationwide. These scams […]

IRS Releases the “Dirty Dozen” Tax Scams for 2014

Identity Theft, Phone Scams Lead List IR-2014-16, Feb. 19, 2014 WASHINGTON — The Internal Revenue Service today issued its annual “Dirty Dozen” list of tax scams, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer fraud. The Dirty Dozen listing, […]


2014 Tax Season to Start Later Following Government Closure; IRS Sees Heavy Demand As Operations Resume IR-2013-82, Oct. 22, 2013 WASHINGTON — The Internal Revenue Service today announced a delay of approximately one to two weeks to the start of the 2014 filing season to allow adequate time to program and test tax processing systems […]