January 2012 Kronicle

This month, our Feature article takes a look at an Internal Revenue Service (IRS) requirement that calls for small businesses undergoing an IRS audit to turn over exact copies of the electronic records stored in their business-software programs.  We also discuss the revenue agency’s recent meeting to discuss the development of a real-time tax system. Finally, we share with you the “Hot Dates” for the month of January, including a number of board meetings and education sessions from the Financial Accounting Standards Board (FASB).

IRS Audit Requests for Electronic Files Generates Fear of Fishing Expeditions Among Small Businesses

IRS Seeks Public Comment on the Development of a "Real-Time" Tax System

January 2012 Hot Dates