The Internal Revenue Service announced that more than 1 million business taxpayers have electronically filed tax returns so far this year.
Corporate e-filed returns have increased by nearly 50 percent over this period last year.
Corporations with assets of $10 million or more that file at least 250 returns (including W-2 and 1099 forms) are now included in the mandate to e-file. The deadline for most corporate filers was March 15.
On the day of the deadline, IRS systems successfully processed more than 200,000 business returns, of which more than 50,000 were returns of corporations. Over 414,000 corporate taxpayers have e-filed their returns -- which can run into the thousands of pages -- so far this year.
More than 4,700 of the nation’s largest corporations (those with at least $50 million in assets) filed electronic returns by the due date, and nearly 6,400 of the newly-mandated smaller corporations did so.
Corporations that operate on the calendar year can request an extension to file by Sept. 15, an option which 634,000 taxpayers have already requested electronically.
Non-corporate business filers are also using e-file. More than 185,000 businesses electronically filed their partnership returns this year. Partnerships are required to file a schedule K-1 for every partner, and the agency has already received more than 1.1 million of the forms electronically.
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