Electronic Record-keeping Requirements: Statutory ProvisionsThe United States requires e-commerce sellers to store their business records electronically. To have confidence in the processes and methodology used to store records electronically, the Internal Revenue Service promulgates acceptable standards of electronic record keeping for tax purposes.
The following questions have been addressed in this article:What Are The Challenges Of Electronic Record Keeping?
What Are The Requirements Recognized By The IRS For Electronic Record Keeping?
What Are The Hardware Requirements?
What Are The Penalties For Non-Compliance With IRS Requirements?