The Internal Revenue Service today reminded corporations and partnerships that took extensions to file their income tax returns by the Sept. 15 deadline, which applies to any business whose fiscal year is also the calendar year.
The IRS continues to see strong growth in corporations and partnerships shifting from paper returns to e-file. As of Aug. 30, more than 6 million corporations and partnerships have electronically filed their returns this year, representing a nearly 8 percent overall increase from the prior year.
Most large corporations and partnerships are already required to e-file. Corporations with $10 million or more in total assets are generally required to e-file Forms 1120 and 1120S. Partnerships with more than 100 partners as defined by their Schedules K-1 filings are also generally required to e-file their returns.
The use of e-file has also shown strong growth this year among businesses not required to use it.
Information on the benefits of e-file and details about the Modernized e-File (MeF) program are available at IRS.gov - or by calling Neikirk, Mahoney & Smith at 502-896-2999. The IRS expects to receive millions more e-filed returns by the deadline.
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