Publication 552 Rev December Recordkeeping for Individuals Form

Instructions and help about Publication 552 Rev December Recordkeeping For Individuals

[Music] let's take a look at record keeping and reporting agencies obtain data in many ways one method is to require individuals and businesses to produce and maintain records an agency may require those records to be held subject to review by the agency or the record producer may be required to provide the record the former is known as record keeping and the latter is known as reporting most agencies especially regulatory agencies possess broad authority to require record keeping and reporting the authority of agencies to require reporting is not limited to instances when violation of the law is suspected an agency may require reporting information to the agency simply so that the agency can educate itself or monitor compliance the cost to individuals in businesses of maintaining records and reporting to the government can be high the apa does not require particular record keeping or reporting in line with the theory that the apa is intended to be a procedural rather than a substantiv