The Internal Revenue Service has sent out an advisory to tax preparers and tax firms that do not have Electronic Filing Identification Numbers to obtain EFINs in order to meet the 2012 e-file mandate.
Starting in January 2012, any paid preparer or firm that anticipates preparing and filing 11 or more Form 1040 series returns, Form 1041 returns, or a combination of them must generally do so through IRS e-file. The requirement marks the second phase of a law intended to boost the rate of e-filing. In 2011, the e-file mandate pertained to anyone preparing and filing 100 or more returns.
Currently, nearly 80 percent of individual returns are e-filed. The IRS said it has processed more than 1 billion individual returns since the debut of e-filing in 1990.
For more, visit www.irs.gov/taxpros/index.html.
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