How can I use NeatWorks for tax preparation?
NeatWorks software can help you create detailed financial records for each expense with corresponding receipts that the IRS requires for tax time. You scan in the receipt and the software will extract the important financial information. At the end of the year, you’ll be able to use the searching and reporting functions to help fill out your 1040 and other tax forms. Does the IRS accept digital receipts? Yes. According to ruling Rev. Proc. 97-22, the IRS allows one to prepare, record, transfer, index, store, preserve, retrieve, and reproduce books and records by either electronically imaging hard copy documents to an electronic storage media, or transferring computerized books and records to an electronic storage media that allows them to be viewed or reproduced without using the original program.
