The IRS' E-Filing Revolution: Streamlining Tax Compliance for Businesses
- djones54658
- Jul 21, 2023
- 3 min read
In a landmark move to modernize tax compliance and embrace the digital age, the Department of Treasury and the Internal Revenue Service (IRS) have announced a significant update to the e-filing requirements for tax forms. Starting in 2024, e-filing will become mandatory for most frequently used tax forms, such as W-2 and 1099, if the total combined number of forms filed is 10 or more. This new regulation supersedes the previous rule, which mandated e-filing only if the number for each form required to be filed was 250 or more. This change is set to have a profound impact on businesses across the nation, revolutionizing the way they report tax information to the IRS.
