The IRS has recently directed its revenue agents to obtain a copy of your QuickBooks or other electronic accounting files during an audit. They have the legal authority to issue a summons should you refuse. There are steps you can take so they cannot access your data from years not under audit but unfortunately this is a service that you have to pay a third party to perform, the funtionality is not built into QuickBooks. I wrote a blog post about this, so check out my website if you need further information on this developing topic.

That is what I thought but my son said he heard that a new ruling/law was passed that if business used Quickbooks they would automatically have to submit their records every year at tax time not just with an audit.  This seemed pretty far fetched to me and like a lose lose for both the taxing powers having to review all corporate books and Quickbooks having businesses switching programs.  Thought I would check it out before I told him not to believe everything he hears because I have been wrong a time or to :)   Thanks for the reply