Final IRS rules on electronic filing requirements include a later applicability date that should be helpful to small businesses, tax and payroll industry professionals said.
The rules, released Feb. 21 by the Treasury Department and IRS, require businesses that have to file at least 10 information returns in a year to file those forms electronically, effective for returns that have to be filed in 2024 and later. The current threshold of 250 information returns will remain in effect until then.
When the rules were proposed in 2021, they would have lowered the threshold to 100 for 2022 and 10 ...