Electronic filing continues to show a strong increase, with e-filed tax returns running more than 6 percent ahead of last year, according to the Internal Revenue Service. Out of 61 million returns filed as of March 11, 42.7 million, or nearly 70 percent, were e-filed -- up from 65 percent the previous year. While this percentage is expected decline as April 15 approaches, the IRS expects for the first time to have more than half of all individual tax returns filed electronically. Out of tax returns e-filed so far, the biggest increase is among those who prepare their own returns on a home computer -- 10.6 million returns, up more than 14 percent over results from the same period last year. The jump in computer use coincides with another strong year from the Free File program. The IRS and a consortium of tax software manufacturers offer free services through Free File, which is available at www.irs.gov. More than 3.33 million returns came in through Free File through March 9, which is a 44 percent increase from 2.32 million returns for the same period last year.
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Plus, OSCPA names its new board; ConvergenceCoaching graduates a new class of leaders; and other firm and personnel news from across the profession.
September 11 -
Toxic pollutants; fabricated gambling winnings and losses; financial shortfalls; and other highlights of recent tax cases.
September 11 -
Advisors can leverage the updated opportunity zone program, starting in January, to help ultrahigh net worth clients defer capital gains.
September 11 -
The projected U.S. tax rates give tax professionals an early look at potential adjustments that could affect their 2027 tax planning for their clients.
September 11 -
Plus, Cherry Hill Advisory launches set of free AI tools; Datarails launches finance ticketing system; and other accounting tech news.
September 11 -
Nick Steiner is planning to build on the firm's Bay Area and Silicon Valley roots, while offering AI consulting for clients.
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