The Internal Revenue Service says the number of tax returns e-filed by businesses rose nearly 9 percent this year, continuing the growth in the number of corporate and partnership returns filed electronically. This year, an additional 625,000 corporations and partnerships chose to e-file their tax returns.
As of Sept. 20, almost 8 million corporations and partnerships e-filed their income tax returns. The IRS estimates that e-file accounts for 77 percent of all corporate and partnership returns filed during 2015. Many corporations and partnerships operating on a calendar year receive filing extensions. The due date for filing a return after filing for an extension is usually Sept. 15.
Most large corporations and partnerships are required to e-file.
Large and mid-size corporations, generally those with $10 million or more in total assets, are required to electronically file their Forms 1120 or 1120S. Partnerships with more than 100 partners (Schedules K-1) are also required to e-file their tax returns. The IRS is seeing growth in e-filing by all business segments.
This year, a record 100,000 large corporations e-filed their returns, an increase of 8 percent compared to the same time last year. The greatest rate of growth in e-filing among these businesses is by large partnerships. This year, 142,237 large partnerships e-filed their tax returns, up almost 16 percent from the same time last year.
Tax Returns e-filed by Corporations and Partnerships
| Category of e-filers |
Sept. 21, 2014 |
Sept. 20,2015 |
%Change |
| Large Corporation Tax Returns |
92,494 |
100,052 |
8.2% |
| Other Corporate Returns |
4,373,597 |
4,720,698 |
7.9% |
| Total Corporate Returns |
4,466,091 |
4,820,750 |
7.9% |
| Large Partnership Tax Returns |
122,879 |
142,237 |
15.8% |
| Other Partnership Returns |
2,640,319 |
2,891,466 |
9.5% |
| Total Partnerships |
2,763,198 |
3,033,703 |
9.8% |
| Total Returns |
7,229,289 |
7,854,453 |
8.6% |
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Tags: Income Taxes
