The IRS has issued final regulations which state that any organization that files 10 or more IRS returns, or any type of statement including, but not limited to, W2s, Forms 1099, 1098, and 1095, beginning with the 2024 calendar year, will be required to do so via electronic filing.
In addition, taxpayers who have previously filed W2s, Forms 1099, 1098, and 1095 should also be prepared for this transition to electronic filing.
It is noted, however, that the 10-return threshold does not make electronic filing mandatory for employment tax returns such as Forms 940 and 941. Filers must aggregate almost all return types covered by the regulation to determine whether a filer meets the 10-return threshold.
For more information, please contact one of the experienced tax professionals at Bormel, Grice & Huyett, P.A. at 301-953-3259 or 410-792-7259