Technology's avenues, applications and acronyms for the new year

Article Abstract:

The author discusses anticipated technological advances for the year 2000.

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The year 2000 problem

Article Abstract:

Tax accounting problems may arise for tax consultants and their clients if the Year 2000 computer problem is not managed. Legacy systems used to calculate values according to time, such as with bonds, are obvious problems in the accounting field. Technological failures, which could range from minor to severe, may have legal implications. Disclosure is an advisable business practice which is legally required for certain types of businesses. Several World Wide Web sites exist which contain relevant information regarding the general problem, compliance, and disclosure.

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Electronic compliance: digitized returns and records

Article Abstract:

Widespread electronic filing of tax returns is an IRS goal largely due to the administrative costs of processing and storing paper-based tax documents. The IRS has made available to individuals, businesses, and estates and trusts telephone-based or electronic mail-based tax-filing options. Special record retention rules and procedures must be followed.

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