IRS to require big businesses, charities to e-file

IRS to require big businesses, charities to e-file
IRS to require big businesses, charities to e-file

By Mary Mosquera
GCN Staff

The IRS will require that the country’s largest companies and tax-exempt organizations electronically file their annual returns beginning next year.

The tax regulations announced today require that any business with assets of $50 million or more submit forms 1120 and 1120S, corporate returns, electronically, beginning with returns for tax year 2005. Any tax-exempt organization with assets of $100 million or more must file its Form 990, an annual information return, electronically.