At least in terms of business filings, we may be approaching a time when we’ll be saying “happy trails” for good to what used to be known as a “paper trail.” The evidence is in this IRS news headline: Business E-File Jumps 10 Percent This Year; Doubles in 4 Years; 7 in 10 Corporate and Partnership Tax Returns Now Filed Electronically
The release, out of Washington, D.C., notes that “business e-file rose nearly 10 percent this year, continuing the growth that has seen the number of corporate and partnership returns filed electronically double in just four years, the Internal Revenue Service said today. An additional 600,000 corporations and partnerships e-filed their tax returns this year.”
“As of Sept. 21, more than 7 million corporations and partnerships e-filed, an increase of almost 10 percent over the prior year’s total, and twice the nearly 3.5 million returns e-filed during the 2010 fiscal year. About 70 percent of all corporate and partnership returns have been e-filed during 2014. Many corporations and partnerships operating on a calendar year receive filing extensions. The extended due date is usually Sept. 15.