IRS Reviews Rules for Keeping Digital Tax Records
Published Date: 3/4/2026
Notice
Summary
The IRS wants your thoughts on how they collect and keep electronic records under Revenue Procedure 97-22. This affects businesses and individuals who store tax info electronically, aiming to make recordkeeping clearer and less of a hassle. You’ve got until May 4, 2026, to share your ideas—help shape the rules and maybe save some time and money!
Analyzed Economic Effects
2 provisions identified: 0 benefits, 2 costs, 0 mixed.
Keep Electronic Tax System Records
If you maintain tax books or records in an electronic storage system, Revenue Procedure 97-22 requires you to keep records describing the system, its use, security, and controls for review upon request. This guidance applies to taxpayers who store records electronically and is the subject of the IRS information-collection notice.
Paperwork Burden Estimate and Time Cost
The IRS estimates 50,000 respondents will be affected, with an estimated 20 hours and 1 minute per respondent, for a total annual burden of 1,000,400 hours. Stakeholders can submit written comments by May 4, 2026 about the burden estimate and ways to reduce it.
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Key Dates
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