From the Help Desk: How do we know your eReceipts will stand up to an IRS audit?

expensifymeg —  March 4, 2011 — Leave a comment

With Tax Day looming, many of you have been asking our Help Desk just how certain you can be that the eReceipts Expensify Guarantees are, in fact, IRS-compatible and really guaranteed.

While we really don’t want to put ourselves in the position of legally advising anyone on their taxes – you should talk to a tax lawyer for that – we can say, with pride, that we meet and exceed all of the requirements put forth by the IRS in Publication 463.

Here are the basic rules to keep in mind:

  • Your purchase must be under $75
  • We can’t create eReceipts for hotel bills – no lodging charges, then.
  • The IRS requires non-paper receipts to be Timely, Accurate, and Written – our syncing with your bank and credit card ensure the first two, and by virtue of creating eReceipts in a permanent electronic form, we’ve ensured the last

We worked in close conjunction with the IRS to ensure that our eReceipts would stand up to a tough test – and as one Expensify client recently learned when his contractor expense report with the Department of Defense was audited, these eReceipts stand up to the toughest.

expensifymeg

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Marketing Associate at Expensify.com

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