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IRS Releases Mandated E-File Guidance for Individual, Estate and Trust Returns
The IRS has released guidance, including frequently asked questions (FAQs), involving the tax return preparer mandate for e-filing individual, estate, and trust returns pursuant to a new law which is effective beginning January 1, 2011. In general, if a tax return preparer reasonably expects to file 100 or more of these returns in 2011, the preparer is required to file the returns electronically. A firm is generally subject to this same 100 return threshold in the aggregate for all preparers in the firm. This 100 return threshold drops to 11 or more income tax returns in 2012.
To facilitate implementation of the preparer e-file mandate, the Service has released: (1) REG-100194-10, proposed regulations; and (2) proposed Notice 2010-85. These provide proposed guidance on how preparers can receive an "undue hardship waiver" from the e-file mandate and how a taxpayer opt-out of e-filing if the taxpayer wants his or her return filed in paper format. When issued in final form, REG-100194-10 will be effective retroactively to January 1, 2011.