Accounting and Tax Services
Nov 10

The IRS and Quickbooks

Does your medical practice use Quickbooks to keep its accounting records? Then you'll be interested in this: The IRS noted that it recently completed training for revenue agents (the auditors) on QuickBooks® Premier Accountant Edition 2010 software. Approximately 1,100 agents were trained and are now being encouraged to request and accept taxpayers' QuickBooks files, as appropriate. The IRS said during a tax audit, electronic files could be provided on a CD, DVD, or flash/jump drive to ensure their security. However, email cannot be used to transmit the electronic records to the IRS during the audit. 

About Reed Tinsley, CPA

As a top advisor to physicians, I help increase practice profits by delivering hands-on, expert medical accounting/tax support, practice counsel, and revenue-building strategies. Read more →