The Internal Revenue Service, continues to move aggressively to collect more taxes from small businesses. They are telling companies being audited to turn over exact copies of the electronic records (QuickBooks, Peachtree, etc. files) kept in their business-software programs, according to a letter from an agency official to the American Institute of CPAs.
The accounting world fears this will force small businesses to turn over customer lists, personnel data, confidential client information and other unrelated information often contained in the off-the-shelf software programs many businesses use to manage all aspects of their finances.