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New e-file Forms are Available for Businesses, Charitable and Non-Profit Organizations, and Partnerships

Headliner Volume 123
April 21, 2005

The IRS continues to improve its electronic filing program by making more forms and schedules available for IRS e-file.

The new IRS e-file forms introduced earlier this year can be used to file returns for businesses, charitable and non-profit organizations, and partnerships.

Among the new IRS e-file products are four new forms and schedules relating to Form 1120, U.S Corporate Income Tax Return:

  • Schedule M-3, Net Income (Loss) Reconciliation for Corporations with total assets of $10 million or more
  • Form 8858, Information Return of U.S.Persons with Respect to Foreign Disregarded Entities
  • Schedule M-8858, Transactions Between Foreign Disregarded Entity of a Foreign Tax Owner and the Filer or Other Related Entities
  • Form 7004, Application for Automatic Extension of Time to File for Corporate Returns

In addition, one more Form 990 for charities and non-profits is now available for electronic filing:

  • Form 990PF, Return of Private Foundation or Section 4947 (a)(1) Trust Treated as a Private Foundation

Filing partnership returns electronically became easier with the following three forms, available for IRS e-file for the first time this year:

  • Form T, Forest Activities
  • Form 970, Application to Use LIFO Inventory Method
  • Form 8886, Reportable Transactions Disclosure Statement

The IRS encourages the use of these and other previously available forms and schedules for electronic filing. In addition, there are several electronic options available to pay taxes. The payment options include the Electronic Federal Tax Payment System (EFTPS), Electronic Funds Withdrawal, and Credit Cards if you are a Form 1040 filer. 

Electronic filing and paying decreases paper handling, reduces costs and improves accuracy and product quality.  An electronic acknowledgment of return receipt will be issued within 48 hours, and error messages are in plain English.  The system is safe and secure.

More information is available on the e-file page, which includes links to e-file for Tax Professionals and Electronic Payment Options.