The IRS and electronic receipts

Over the last several months, we have been receiving questions about the IRS’s acceptance of electronic receipts. The IRS does accept electronic receipts, but there are a few caveats. All the details are specified under IRS Rev. Proc. 97-22 which can be found:

Here

The general requirements (page 10 of 36) in this PDF specified by the IRS are:

“(1) reasonable controls to ensure the integrity, accuracy and reliability of the electronic storage system
(2) reasonable controls to prevent and detect the unauthorized creation of, addition to, alteration of, deletion of or deterioration of electronically stored books and records
(3) an inspection and quality assurance program, evidenced by regular evaluations of the electronic storage system including periodic checks of electronically stored books and records
(4) a retrieval system that includes an indexing system
(5) the ability to reproduce legible and readable hard copies of electronically stored books and records.”

Please note that this is NOT legal or tax advice. Please contact your attorney for more information.