IRS announces release date for 1040 modernized e-file program.
Publication Date: 01-JAN-08
Publication Title: The Tax Adviser
Format: Online
Author: Caplan, Robert M.

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Description

The IRS has announced a release date of August 2009 for the modernized e-file (MeF) Form 1040. The MeF program is the newest generation IRS e-file computer system. It is currently required for large corporations, partnerships, and exempt entities. The Service expected to receive 1.5 million MeF returns during the 2006 filing season.

Approximately 130 million individual income tax returns are currently filed each year, and close to 54% of these are filed electronically using the existing legacy system. Thus, development of the MeF 1040 for this broader application will require a substantial time and resource commitment by both...

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