Did you know that there are a number of business returns that can be filed electronically? Thousands of business taxpayers have already identified the advantages of participating in the IRS e-file program. Returns are processed more quickly, more accurately, with fewer errors, saving taxpayers and preparers time and worry since IRS sends an electronic acknowledgement with each return received.

The most commonly used business returns can currently be filed electronically. In addition, there will be two new e-file products available in early 2004.

Form 1041, U. S. Income Tax Return for Estates and Trusts

The 1041 e-file program allows the electronic filing of Form 1041 including 31 forms and schedules. The return can be submitted by an approved third-party software developer, preparer or transmitter. There are a number of Approved IRS e-file Providers listed on our website at www.irs.gov. Just click on IRS e-file. It is a good idea to check this website periodically since it is updated frequently as new providers are added.

Form 1065, U.S. Return of Partnership Income

The 1065 e-file program allows the electronic filing of Form 1065 including 57 forms and schedules. The return can be submitted by the partnership, an approved third-party software developer, preparer or transmitter. Section 1224 of the Taxpayer Relief Act of 1997 requires partnerships with more than 100 partners to file their return electronically. However, partnerships with 100 or less partners can voluntarily participate in the Form 1065 e-file program. For a listing of Approved IRS e-file Providers, please check our website at www.irs.gov and click on IRS e-file. You should periodically check this website since it is updated frequently as new providers are added.

Form 940, Employers Annual Federal Unemployment (FUTA) Tax Return and

Form 941, Employer’s Quarterly Federal Tax Return

The New Employment tax e-file System, launched in January 2003, offers an improved way to file for current 940/941 e-file and on-line filers. For the first time, Electronic Returns Originators (EROs) will have the ability to offer employment tax filing to their clients. To get specific details about this program, as well as a listing of Approved IRS e-file Providers, visit our website at www.irs.gov and click IRS e-file.

The IRS on-line filing program for Forms 940/941 is available to business filers. The on-line program, is a web-based program and allows business filers to prepare, sign and file Forms 940/941 using a third-party software developer or transmitter. A listing of Approved IRS e-file Providers is located at our website at www.irs.gov. Just click on IRS e-file. It would be a good idea to check this site periodically as new providers are added frequently.

Information Returns

Certain information returns can be filed electronically using the FIRE (Filing Information Returns Electronically) system. FIRE is dedicated exclusively to the filing of Forms 1042-S, 1098, 1099, 5498, 8027, W-2G and QWF (Questionable Forms W-4). For detailed information about filing information returns electronically as well as a listing of Approved IRS e-file Providers, check our website at www.irs.gov and click on IRS e-file.

EFTPS

The Electronic Federal Tax Payment System (EFTPS) is a free service provided by the U. S. Department of Treasury that allows individual and business taxpayers to pay all their Federal taxes electronically including income, payroll, estimated and excise taxes. Electronic payments can be made using the internet or by phone. In order to participate in EFTPS you must enroll. To find out how you can enroll, visit the EFTPS website at www.eftps.gov, call 1-800-945-8400 or 1-800-555-4477.

Form 8633 – Application to Participate in IRS e-file Program

As of August 1, 2003, preparers of both individual and business tax returns now have the opportunity to apply to become Electronic Return Originators (EROs) year-round, using Form 8633, (Application to Participate in the IRS e-file Program). Accepted e-file providers may continue to use this form throughout the year to revise and update information previously submitted on an earlier application.

Applying on-line to become an ERO will be another change for both individual and business returns. The on-line application process will be part of a suite of e-services offered to tax professionals. Participants must register to create an electronic account. To find out when the on-line e-file application will be available, visit www.irs.gov and click on the IRS Form CT-1 (PDF) for Tax Professionals page.

Form 1120, U.S. Corporation Income Tax Returnand

Form 1120S, U.S. Income Tax Return for an S Corporation

The 1120 e-file program is scheduled to launch in early 2004. Release 1 will contain 53 forms and schedules and Release 2, scheduled for later in the year, will contain the remaining 44 forms. Business taxpayers who file Form 1120/1120S may e-file their return through an Approved IRS e-file Provider. A listing of approved providers will be available on our website at www.irs.gov. Just click on IRS e-file.

Form 990, Return of Organization Exempt from Income Tax

Form 990–EZ, Short Form Return of Organization Exempt from Income Tax

Form 1120–POL, U.S. Income Tax Return for Certain Political Orgainizations

Form 8868, Application for Extension of Time to File an Exempt Organization Return

The Exempt Organization e-file Program is scheduled to launch in early 2004. Release 1 will include Forms 990, 990–EZ, 1120–POL and 8868. The Forms 990–PF and 990–T will be released in the near future. Exempt taxpayers who file Form 990/990–EZ/1120–POL may e-file their return through an Approved IRS e-file Provider. For details and a listing of approved providers, visit our website at www.irs.gov and click on IRS e-file.