AICPA offers guidance on mandatory corporate e-filing

With more corporations subject to the IRS's mandatory e-filing requirement this year, the AICPA is releasing guidance to help CPAs comply with the rule.

The threshold for mandatory e-filing by corporations drops to $10 million or more in total assets for fiscal year 2006. Last filing season, only corporations with $50 million or more in total assets were required to e-file. Consequently, many more practitioners in medium to small firms will have clients that generally must e-file their Form 1120 or 1120S.

The AICPA's Tax Division has developed a PowerPoint presentation to help CPAs understand and comply with the corporate e-file program.

The PowerPoint is available here.

In addition, the IRS’s E-File for Large and Mid-Size Corporations Web page has extensive resources related to the mandatory corporate e-file program.

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