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.
Accounting and Tax Services
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 →