Rev. Rul. 75-265

The Internal Revenue Service has reconsidered the position set forth in I.T. 3866, 1947-2 C.B. 68.

Section 6001 of the Internal Revenue Code of 1954 provides, in part, that every person liable for any tax imposed by this title shall keep such records as the Secretary or his delegate may from time to time prescribe.

Held, microfilm (including microfiche) reproduction of general books of account, such as cash books, journals, voucher registers, ledgers, etc. and supporting records of detail will be considered books and records within the meaning of section 6001 of the Code where such reproduced books and records are in accordance with Rev. Proc. 75-33, page 559.

This Revenue Ruling shall apply to all records required by regulations under subtitles A, B, C and D of the Code.

I.T. 3866 holding that microfilm reproductions of general books of accounts are not acceptable for purposes of determining tax is revoked. Rev. Rul. 56-260, 1956-1 C.B. 555 and Rev. Rul. 56-547, 1956-2 C.B. 932, holding that retention of only microfilm reproduction of supporting data pertaining to excise taxes is acceptable, are superseded.

¹ Prepared pursuant to Rev. Proc. 67-6, 1967-1 C.B. 576.