E-File Threshold Update
Important IRS Update
The IRS released final regulations amending the rules for filing returns and other documents electronically (e-file). The e-file threshold for information returns is officially lowered from 250 to 10 in Tax Year 2023 (to be filed in 2024). This regulation includes the total for all aggregated forms filed.
Additional Provisions Include the Following
The e-file threshold no longer applies per form type, but rather filers that have a combined total of 10 or more information returns (see below applicable forms) are required to electronically file all information returns. (Corrections do not count when totaling the number of forms to file.)
Partnerships with more than 100 partners must file information returns electronically regardless of the number of information returns to be filed.
Corrections must be filed in the same manner that the originals are filed, and penalties will be imposed for failure to file a correction in the same manner as the original was filed.
The e-file threshold is officially lowered to 10 forms for certain filers beginning in 2024.
Forms included in threshold change
1042-S, 1094 series, 1095-B, 1095-C, 1098, 1098-E, 1098-T, 1099 series, 5498 series, 8027, W-2G, W-2, 499R-2/W-2PR, W-2VI, W-2GU, W-2AS, 1098-C, 1098-Q, 3921, 3922, 1097-BTC.
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