Combined Federal/State Filing Program Welcomes District of Columbia and Pennsylvania, Enhancing Efficiency for Filers

CORPUS CHRISTI, TX / ACCESSWIRE / November 7, 2023 / In a significant development, the District of Columbia and Pennsylvania have been added to the IRS's Combined Federal/State Filing (CF/SF) Program starting in Tax Year 2023. This expansion is a substantial stride toward simplifying the 1099 filing process for filers, marking a new chapter in the program's commitment to streamlined tax reporting.

It's important to note that although some states may participate in CF/SF, there may be additional direct-to-state filing requirements as well. It's always best to refer to each state's instructions to ensure all state filing requirements have been fulfilled.

Form Count Threshold Change

Starting in January 2024, for Tax Year 2023 and subsequent years, the IRS mandates electronic filing, or e-filing, for any filer submitting a total of 10 or more information returns during a calendar year. This requirement ensures a more efficient, secure, and environmentally friendly process, aligning with contemporary digital practices.

Filers must assess whether e-filing is mandatory by calculating the total sum across various form types, including the following forms:

• Form 1042-S
• The Form 1094 series
• Form 1095-B, Form 1095-C
• Form 1097-BTC
• Form 1098
• Form 1098-C
• Form 1098-E
• Form 1098-Q
• Form 1098-T
• The Form 1099 series
• Form 3921
• Form 3922
• The Form 5498 series
• Form 8027
• Forms W-2
• Form W-2G

It is crucial for filers to note that if the original return was submitted electronically, any corrected information returns must also be e-filed. However, these corrected returns will not contribute to the total count determining the necessity for e-filing.

E-filing is recognized as the most advantageous method for filing, offering numerous benefits, including faster processing times, immediate confirmation of receipt, and enhanced data accuracy. It streamlines the submission process, reduces the margin of error, and provides a secure and reliable means of handling tax documents before the deadline.

About BoomTax

BoomTax, located in Corpus Christi, Texas, is a top-tier provider of tax compliance solutions crafted to enhance and streamline the tax reporting process for businesses.

BoomTax's interface is designed to be user-friendly and supports a wide variety of forms, including Form 1099 series (MISC, DIV, INT, NEC), W-2, 1095-B, 1095-C, and California Pay Data Reporting. By delivering tailored solutions for each of these forms, BoomTax assists businesses in fulfilling their compliance responsibilities with precision and efficiency. Leveraging innovative technology paired with outstanding customer service, BoomTax is devoted to simplifying the tax reporting process for businesses of all sizes.

Media Contact

Ken Ham: pr@boomtax.com

SOURCE: BoomTax

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