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E-filing for Large and Mid-Sized Corporations

E-filing for Large and Mid-Sized Corporations

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Published by: api-3813199 on Oct 17, 2008
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05/09/2014

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INTERNAL REVENUE SERVICE
MANDATORY CORPORATE
E-FILE PROGRAM

AMERICAN INSTITUTE OF
CERTIFIED PUBLIC ACCOUNTANTS
November 13, 2006
2
BACKGROUND
\u2022

On, January 11, 2005, IRS issued temporary regulations that require corporations to electronically file (e-file) Forms 1120 and Form 1120S for tax periods ending on or after December 31, 2005, using the new IRS Modernized e-File system if they:

\u2212
Have total assets of $50 million or more for tax year 2005 returns;
\u2212
File at least 250 returns during the calendar year, such as Forms W-2 and
other employment tax returns;
\u2212
Were required to file the same type of corporate income tax return for the
preceding taxable year; and
\u2212

Have been in existence for at least one year (one calendar year for 1120S)
prior to the due date (excluding extensions) of its corporate income tax
return.

\u2022

Tax exempt organizations with total assets of $100 million or more
and file at least 250 returns per year are required to file Form 990
electronically for tax years ending on or after December 31, 2005.

3
BACKGROUND
\u2022For tax year 2006, the electronic filing requirement will be expanded to
include:
\u2022Corporations and tax-exempt organizations with $10 million or more in total
assets that file 250 or more returns during the calendar year.

\u2022Private foundations and charitable trusts will be required to electronically file
Form 990-PF regardless of asset size for tax years ending on or after
December 31, 2006, if they file at least 250 returns.

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