Washington (April 1, 2004) -- Charitable organizations and most corporations can ditch paper returns -- for the first time, corporations and tax-exempt organizations can file Forms 1120 and 990 electronically, the Internal Revenue Service announced.

The release of the new electronic filing system is the first Extensible Markup Language-based system the IRS has used to receive tax returns over the Internet. The new system provides corporations and tax-exempt organizations the option to transmit tax return data using a secure Internet connection in place of a modem.

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