Publication 3909 (4-2005) IRS E-FILE FOR BUSINESS FACT SHEETS

What:

The Employment Tax e-file System offers an improved way to file 940 and 941 returns and accepts most forms and schedules. For the first time, Electronic Return Originators (EROs) have the ability to offer employment tax filing to their clients. The Employment Tax e-file System offers several new features and greater flexibility for filing employment tax returns.

Why:

Features of the System

More Filing Options - The Employment Tax e-file System accepts the following forms and schedules:

Forms 940 and 941 can now be filed in a single transmission file.

More Explicit Error Conditions - New error conditions pinpoint the location of the error in the transmission, and provide complete information for each error identified.

Faster Acknowledgements - Transmissions are processed upon receipt and acknowledgements are returned in near real-time. No more waiting for once or twice daily system processing cycles.

Integrated Payment Option - Eligible filers may submit a required payment along with their return, subject to limitations imposed by the Federal Tax Deposit rules.

Completely Electronic Signature Process - Taxpayers and Reporting Agents can continue to sign their returns with their own IRS issued Personal Identification Number (PIN).

Who Can Participate:

The program is available to Reporting Agents that file and sign Forms 940/941 on behalf of their clients or businesses filing for themselves. Participation is also open to software developers and transmitters.

To apply on-line go to the tax professionals page at http://www.irs.gov/e-file, click on e-Services and register to gain access to complete the electronic application to participate in the IRS e-file Program.

How to Participate:

Special Notes for Participants -

Complete an electronic application to participate in the IRS e-file program. Go to the tax professional’s page at

, click on e-Services and register to complete your application.

Electronic Return Originators (ERO’s) - Complete an electronic application to participate in the IRS e-file program. To apply on-line go to the tax professionals page at http://www.irs.gov/efile, click on e-Services and register to become an ERO.

Business Taxpayers - If you are currently using software to prepare your 940/941, ask your software provider about the employment tax e-file program or visit http://www.irs.gov/e-file for a list of Software Providers for the Employment Tax e-file program. Also see “How Returns Are Signed” below.

How Returns Are Signed

Electronic Return Originators (ERO’s) – A Personal Identification Number (PIN) is used as the business filer’s signature. You or your client will register through an approved software provider for a PIN. The IRS will then send the business client the PIN. When the business client receives the PIN, you are ready to file Form 940 or Form 941. The PIN must be received before the client’s return can be e-filed. Please note that the PIN registration process takes approximately 10 days.

Payroll Preparation Service - Reporting agents sign all of the electronic returns they file with a single PIN signature.

Business Filers – A PIN is used as your signature. When you register for a PIN through an IRS approved software provider, the software will request information pertaining to your business. Once this information is submitted, the IRS will send you a PIN and you will be ready to file your Form 940 and 941 electronically. Please note that the PIN registration process takes approximately 10 days.

Contact Information

Questions should be directed to the Help Desk at 1-866-255-0654.

Not only can you file Employment Tax Returns electronically, you may also e-file Forms 990/990EZ, 1041, 1065, 1120/1120S, Information Returns, and 1040 Individual Returns.

1065 e-file for Partnerships

What:

The 1065 e-file program allows the electronic filing of Form 1065, U.S. Return of Partnership Income, including most associated forms and schedules. This is accomplished using a personal computer (PC), and Form 1065 preparation software. The return can be submitted by the partnership, or through an approved third-party software developer, preparer, or transmitter. Section 1224 of the Taxpayer Relief Act of 1997 requires partnerships with more than 100 partners to file their returns electronically for taxable years ending on or after December 31, 2000. However, partnerships with 100 or less partners can voluntarily file Form 1065 electronically.

New for Tax Year 2004

To apply on-line go to the tax professionals page at http://www.irs.gov/e-file, click on e-Services and register to gain access to complete the electronic application to participate in the IRS e-file program.

Product Information:

The listing of Approved IRS e-file Providers which includes direct links to their individual web sites is located at http://www.irs.gov/efile. This list is updated frequently as new providers and features are added.

Application Process:

After the electronic application has been processed and the applicant has passed the suitability screening, the IRS will assign an Electronic Filing Identification Number (EFIN). Direct transmitters will also be assigned an Electronic Transmitter Identification Number (ETIN) and a temporary password. Direct transmitters will use their test password to log on and transmit test data. Testing is mandatory and required each year for all participants who will develop software and transmit returns. Electronic Forms 1065 are filed at the Ogden Submission Processing Center (OSPC):

Questions should be directed to the OSPC at 1-866-255-0654.

Not only can you file Form 1065 electronically, you may also e-file Forms 940/941, 990/990EZ, 1041, 1120/1120S, Information Returns, and 1040 Individual Returns.

Filing Information Returns Electronically (FIRE)

What:

An Information Return is the tax document used to report certain types of payments made by financial institutions and others who make payments as a part of their trade or business as required by Internal Revenue Code regulations. Information Returns are filed electronically via the FIRE (Filing Information Returns Electronically) system at http://fire.irs.gov. FIRE is dedicated exclusively to the filing of Forms 1042-S, 1098, 1099, 5498, 8027, W-2G and QWF (Questionable Forms W-4).

Note: Forms W-2 are filed with the Social Security Administration. For more information go to http://www.socialsecurity.gov/employer.

Why:

Features & Benefits:

It’s Fast

Any filer of Information Returns may file their return electronically. However, any person, including corporations, partnerships, employers, estates and trusts, who files 250 or more Information Returns of any Forms 1042-S, 1098, 1099, 5498, or W-2G for any calendar year must file their Information Returns electronically or by magnetic media. The IRS encourages you to file electronically or magnetically even if you are filing fewer than 250 returns.

Note: As of calendar year 2004 for tax year 2003, IRS/MCC no longer accepts 8mm, 4mm, and Quarter Inch Cartridges (QIC) for filing Information Returns.

How to Participate:

New users are required to submit Form 4419, Application for Filing Information Returns Electronically/Magnetically, to request authorization to file Information Returns with IRS/Martinsburg Computing Center. Upon approval, a five-character alpha/numeric Transmitter Control Code (TCC) will be assigned. Form 4419 should be submitted to IRS/MCC at least 30 days before the due date of the returns for current year processing. Send your completed Form 4419 to:

Detailed information on all e-file products as well as a listing of Approved IRS e-file for Business Providers which includes direct links to their individual websites is located on the IRS website on http://www.irs.gov/efile. This listing is updated frequently as new providers and features are added. If you are unable to prepare the files yourself and want to purchase software, or locate someone to file on your behalf, refer to Publication 1582, Information Returns Vendor List.

Information:

For more information you may contact the Martinsburg Computing Center’s Customer Service Section, toll-free at 866-455-7438. IRS personnel are available Monday through Friday, 8:30 A.M. to 4:30 P.M. EST. Telecommunications Device for the Deaf (TDD) can be reached at 304-267-3367. Instructions for Filing Information Returns Electronically can be found in Publication 1220 Part B and/or Publication 3609, and are available on the Internet at http://www.irs.gov. Not only can you file Information Returns electronically, you may also e-file Forms 940/941, 990/990EZ, 1041, 1065, 1120/1120S, and 1040 Individual Returns.

Electronic Federal Tax Payment System (EFTPS)

What:

The Electronic Federal Tax Payment System (EFTPS) allows individual and business taxpayers to initiate all Federal tax payments electronically, including income, estimated and excise taxes. The system is sponsored by the U.S. Department of Treasury and requires no special equipment. Electronic payments can be made using the Internet or the phone. You input your tax payment and send it.

Why:

Features & Benefits:

EFTPS offers the convenience of making Federal tax payments directly to the IRS (EFTPS-Direct), or you can choose to go through a financial institution. EFTPS-Direct allows online and phone payments to be made interchangeably. EFTPS-Through a Financial Institution allows same-day payments to be made through your financial institution. Both methods allow tax payments to be initiated 24 hours a day, seven days a week.

As an added convenience, EFTPS offers payment scheduling. You may schedule your payment instructions for up to 120 days in advance of the tax due date for businesses or 365 days in advance of the tax due date for individuals. EFTPS will automatically make your payments for you on the due date you indicate. Tax practitioners, accountants and payroll companies have discovered the added benefits of using EFTPS.

EFTPS offers four easy ways to make payments for clients:

All individual and business taxpayers may participate in EFTPS, but you must first enroll. However, if your business made depository taxes of more than $200,000 in 2002, you must begin using EFTPS for making all your Federal business tax payments electronically beginning January 1, 2004. This applies to any tax deposit obligations incurred on or after January 1, 2004.

How to Participate:

To participate in EFTPS you must first enroll. To receive an enrollment form, call EFTPS Customer Service at 1-800-555-4477. To enroll in EFTPS-OnLine, visit our Web site at http://www.eftps.gov. Remember, if you use EFTPS-OnLine you will also need a Password. You will receive instructions on how to obtain your Internet Password in your Confirmation/Update Package.

Information:

Businesses can make all their federal tax payments electronically using EFTPS by phone or the Internet. Visit http://www.eftps.gov to enroll. For more information or to obtain an enrollment form, call EFTPS Customer Service at 1-800-555-4477.

Publication 966, Electronic Choices for Paying All Your Federal Taxes

Publication 3425, 4 Easy Ways to Use EFTPS for Tax Practitioners, Accountants and Payroll Companies

Publication 3806, The Easiest Way to Pay Your Federal Taxes – for Individuals

Publication 4169, E-Primer, A Guide to Paying Federal Taxes Electronically for Tax Professionals

Form 9779, EFTPS Business Enrollment Form

Form 9783, EFTPS Individual Enrollment Form

Not only can you pay your taxes electronically, you may also electronically file Forms 940/941, 990/990EZ, 1041, 1065, 1120/1120S, Information Returns, and 1040 Individual Returns.

e-Services

What:

e-Services are a suite of web-based products that allow tax professionals and second line professionals and payers to do business with the IRS electronically. Participants must first register to use e-Services, and may then qualify for the incentive programs.

The IRS is offering Disclosure Authorization, Electronic Account Resolution and Transcript Delivery System to tax professionals as an incentive for filing their clients returns electronically. e-filed returns are processed faster with less errors, and can mean quicker refunds. e-Services will give tax professionals easier access to the IRS and the ability to receive information electronically, cutting down the response time to serve clients better. All e-Services products will be quick, convenient, and easy-to-use. Electronic Return Originators (ERO's) who e-file 5 individual or business tax returns will have access to additonal incentive products.

Suite of e-Services Products

What’s Available

Registration

All tax professionals who wish to use e-Services products must register on-line to create an electronic account. The registration process is a one-time automated process where the user selects a username, password and PIN. An on-screen acknowledgement confirms that you’ve successfully completed the initial registration process and you will receive your confirmation code through U.S. Mail. To complete your registration and begin using e-Services, you must login to the e-Services web site inserting the confirmation code within 28 days of receipt.

Preparer Tax Identification Number (PTIN) Application

A paid tax professional may choose to use a PTIN, instead of his or her SSN, on returns that are prepared for clients. The PTIN application enables a preparer to apply on-line for a PTIN, or request a new or replacement PTIN card, or look up a forgotten PTIN. The PTIN will be provided during the on-line session, and a physical PTIN card can be sent to you if requested.

Taxpayer Identification Number (TIN) Matching

TIN Matching is a pre-filing service offered to payers and/or authorized agents who submit any of six information returns subject to backup withholding (Forms 1099-B, INT, DIV, OID, PATR, and MISC). Interactive TIN Matching - authorized payers can match up to 25 payee TIN and name combinations against IRS records prior to submitting an information return. Bulk TIN Matching - allows authorized payers to match up to 100,000 TIN and name combinations.

Electronic e-file Application

Complete the integrated electronic application for participation in both individual and business e-file programs. The electronic e-file application allows the application to be saved in progress, acknowledgement sent via email, and your electronic signature captured through the use of a PIN. The most impressive enhancement is the delegation of authority feature which allows principals and/or responsible officials of the firm/organization to delegate e-Services to their employees.

Tax professionals who are active participants in the IRS e-file program and e-file 5 or more accepted, individual or business income tax returns in a season are eligible to use the following premium e-Services:

Disclosure Authorization

Eligible tax professionals may complete authorization forms, view existing forms, and receive acknowledgement of accepted submissions immediately—all on-line. Disclosure Authorization allows tax professionals to electronically submit Form 2848, Power of Attorney and Declaration of Representative and Form 8821, Tax Information Authorizations. This e-Service expedites processing and issues a real-time acknowledgement of accepted submissions.

Electronic Account Resolution

Electronic Account Resolution allows tax professionals to expedite closure on client’s account problems by electronically sending/receiving account related inquiries. Tax professionals may inquire about individual or business account problems, refunds, installment agreements, missing payments or notices. Tax professionals must have a power of attorney on file before submitting an inquiry. The IRS response will be delivered to a secure mailbox within 72 hours.

Transcript Delivery System

Use Transcript Delivery System to request tax return transcripts, account transcripts and a record of account for your individual and business taxpayers. Resolve your clients’ account issues or problems quickly in a secure, on-line session. Tax professionals must have authorization on file with the IRS before accessing a client’s account.

Why:

Features and Benefits:

Fast:

To apply on-line go to the tax professionals page at http://www.irs.gov/e-file, click on e-Services and register to gain access to complete the electronic application to participate in the IRS e-file program.

Information:

To find out more about IRS e-file products as well as get a listing of IRS Approved e-file Providers with direct links to their individual websites, visit http://www.irs.gov/efile.

The IRS e-file program includes Forms 940/941, 990/990EZ, 1041, 1065, 1120/1120S, Information Returns, and 1040 Individual Returns.

Electronic Payment Options

What:

Electronic payment options are convenient, safe and secure methods for paying individual and business taxes. Taxpayers can enroll in the U.S. Treasury’s Electronic Federal Tax Payment System (EFTPS), authorize an electronic funds withdrawal while e-filing, or use a credit card (individuals only). Electronic payment options give taxpayers an alternative to paying taxes by check or money order. Payments can be made 24 hours a day, 7 days a week. An electronic confirmation number is provided once the payment transaction is completed. Making an electronic payment eliminates the need to send in the associated paper payment voucher. The electronic funds withdrawal and EFTPS options are free!

Why:

Features & Benefits:

Electronic Federal Tax Payment System

Self-employed, small and large business taxpayers can pay electronically as follows:

Visit http://www.irs.gov/efile and choose Electronic Payment Options. Also, visit http://www.EFTPS.gov.

Product Information:

Detailed information on all IRS e-file products and services is available by visiting the IRS Web site at http://www.irs.gov/efile.

Publication 3611 - Electronic Payments Brochure

Publication 3909E, EFTPS Fact Sheet

Not only can you pay your taxes electronically, you may also e-file Forms 940/941, 990/990EZ, 1041,1065, 1120/1120S, Information Returns, and 1040 Individual Returns.

1041 e-file for Estates and Trusts

What:

The 1041 e-file program allows the electronic filing of Form 1041, U.S. Income Tax Return for Estates and Trusts including 40 forms and schedules. Form 1041 is used to report yearly income for estates and trusts. The return can be submitted by an approved third-party software developer, preparer, or transmitter. Fiduciaries may also electronically file a Form 1041 directly to the IRS, but must pass testing the same as a transmitter.

Why:

Features & Benefits

Fiduciary: A trustee of a trust; or an executor, administrator, personal representative, or a person in possession of property of a decedent’s estate

Paid Preparer:

Originates the electronic submission of tax returns to the IRS.

Transmitter: Receives Form 1041 data from clients and transmits the data to the IRS electronically.

Software Developer: Develops software for use in preparing 1041 returns, Schedules K-1 and related forms and schedules according to IRS specifications.

How to Participate:

To apply on-line go to the tax professionals page at http://www.irs.gov/e-file, click on e-Services and register to gain access to complete the electronic application to participate in the IRS e-file program.

After the electronic application has been processed and the applicant has passed the suitability screening process, the IRS will assign an Electronic Filing Identification Number (EFIN). Direct transmitters will also be assigned an Electronic Transmitter Identification Number (ETIN) and a temporary password. Direct transmitters will use their test password to log on and transmit test data. Testing is mandatory and required each year for all participants who will develop software and transmit returns.

Contact the Ogden Submission Processing Center Electronic Filing Section at (866) 255-0654 when you are ready to test.

Vendor Information

For a listing of Approved IRS e-file Providers that can file your Form 1041 electronically, and give you the direct links to their individual web sites, visit http://www.irs.gov/efile. This listing is updated frequently as new providers are added.

Product Information

Detailed information on all e-file business products is available by visiting the IRS web site at http://www.irs.gov/efile.

Not only can you file Form 1041 electronically, you may also e-file Forms 940/941, 990/990EZ, 1065, 1120/1120S, Information Returns, and 1040 Individual Returns.

Form 1120 (U.S. Corporation Income Tax Return); Form 1120S (U.S. Income Tax Return for an S Corporation)

What:

The IRS e-file program now includes Forms 1120 and 1120S. The 1120 program has file and pay capability and returns are processed on a transaction basis rather than in batch mode. There are 100 forms and schedules available. (See Appendix A)

Form 1120 is used to report the income, gains, losses, deductions and credits, and income tax liability of a corporation. (Note - Bankruptcy returns cannot be e-filed, a paper return must be filed.) Form 1120S, U.S. Income Tax Return for an S Corporation, is used to report income, deductions, gains, losses, etc., of a domestic corporation that has elected to be an S Corporation by filing Form 2553,

Election by a Small Business Corporation, and whose election is in effect for the tax year and until terminated.

New for 2005

Features and Benefits:

It’s Convenient:

Business taxpayers who file Form 1120/1120S may e-file their return through an Approved IRS e-file Provider. A list of Approved IRS Providers is available on http://www.irs.gov/efile.

How to Participate:

To apply on-line go to the tax professionals page at http://www.irs.gov/e-file, click on e-Services and register to gain access to complete the electronic application to participate in the IRS e-file program.

Information:

To find out more about IRS e-file products as well as obtain a listing of Approved IRS e-file Providers with direct links to their individual websites, visit http://www.irs.gov/efile.

Not only can you file Form 1120/1120S electronically, you may also e-file Forms 940/941, 990/990EZ, 1041, 1065, Information Returns, and 1040 Individual Returns.

Forms and Schedules for 1120/1120S e-file

 1   1120, US Corporation Income Tax Return

 2  

Schedule D (Form 1120)

, Capital Gains and Losses

 3  

Schedule H (Form 1120)

, Section

 Limitations for a Personal

     Service Corporation (PSC)

 4  

Schedule N (Form 1120)

, Foreign Operations of U. S. Corporations

 5  

Schedule M-3 (Form 1120)

, Reconciliations of Financial Satement,

     Net Income per Books, and Return

 6  

Schedule PH (Form 1120)

, US Personal Holding Company (PHC) Tax

 7  

Form 851

, Affiliations Schedule

 8  

Form 926

, Return by a US Transferor of Property to a Foreign

     Corporation

 9  

970

, Application to Use LIFO Inventory Method

 10  

972

, Consent of Shareholder to Include Specific Amount in Gross

     Income

 11  

973

, Corporation Claim for Deduction for Consent Dividends

 12  

982

, Reduction of Tax Attributes Due to Discharge of Indebtedness

     (and Sec 1082 Basis Adjustment)

 13  

Schedule F (Form 1040)

, Profit or Loss from Farming

 14  

1118

, Foreign Tax Credit – Corporations

 15  

Schedule I (Form 1118)

, Reduction of Oil and Gas

 16  

Schedule J (Form 1118)

, Adjustments to Separate Limitation Income

     (Loss) Categories for Determining Numerators of Limitation

     Fractions

 17  

1122

, Authorization and Consent of Subsidiary Corporation to be

     Included in a Consolidated 88 Income Tax Return

 18  

2220

, Underpayment of Estimated Tax by Corporations

 19  

2439

, Notice to Shareholder of Undistributed Long-Term Capital

     Gains

 20  

3115

, Application for Change in Accounting Method

 21  

3468

, Investment Credit

 22  

3800

, General Business Credits

 23  

4136

, Credit for Federal Tax Paid on Fuels

 24  

4255

, Recapture of Investment Credit

 25  

4466

, Corporation Application for Quick Refund of Overpayment

     of Estimated Tax

 26  

4562

, Depreciation and Amortization

 27  

4626

, Alternate Minimum Tax Corporations

 28  

4684

, Casualties and Thefts

 29  

4797

, Sale of Business Property

 30  

5452

, Corporate Report of Nondividend Distributions

 31  

5471

, Information Return of US Persons With Respect to Certain

     Foreign Corporations

 32  

Schedule J (Form 5471)

, Accumulated Earning and Profits (E&P) of

     Controlled Foreign Corporation

 33  

Schedule M (Form 5471)

, Transactions Between Controlled Foreign

     Corporation and Shareholders or Other Related Persons

 34  

Schedule O (Form 5471)

, Organization or Reorganization of Foreign

     Corporation and Acquisitions and Dispositions of its Stock

 35  

5472

, Information Return of a 25% Foreign-Owned US Corporation or

     a Foreign Corporation Engaged in a US Trade or Business

 36  

5712-A

, Election and Verification of the Cost Sharing or Profit

     Split Method Under Section

 37  

5713

, International Boycott Report

 38  

Schedule A (Form 5713)

, International Boycott Factor

     (Sec 999(c)(1))

 39  

Schedule B (Form 5713)

, Specifically Attributable Taxes and Income

     (Sec 999(c)(2))

 40  

Schedule C (Form 5713)

, Tax Effect of the International Boycott

     Provisions

 41  

5735

, Possessions Corporation Tax Credit (Under Sections

     and 30A)

 42  

Schedule P (Form 5735)

, Allocation of Income and Expenses Under

     Section

 43  

5884

, Work Opportunity Credit

 44  

6198

, At-Risk Limitations

 45  

6252

, Installment Sale Income

 46  

6478

, Credit for Alcohol Used as Fuel

 47  

6765

, Credit for Increasing Research Activities

 48  

6781

, Gains and Losses from Sec 1256 Contracts and Straddles

 49  

8050

, Direct Deposit of Corporate Tax Refund

 50  

8082

, Notice of Inconsistent Treatment or Amended Return

 51  

8271

, Investor Reporting of Tax Shelter Registration Number

 52  

8275

, Disclosure Statement

 53  

8275-R

, Regulation Disclosure Statement

 54  

8283

, Noncash Charitable Contributions

 55  

8586

, Low-Income Housing Credit

 56  

8594

  Asset Acquisition Statement

 57  

8609

, Low-Income Housing Credit Allocation Certificate

 58  

Schedule A (Form 8609)

, Annual Statement

 59  

8611

, Recapture of Low-Income Housing Credit

 60  

8621

, Return by a Shareholder of a Passive Foreign Investment

     Company or Qualified Electing Fund

 61  

8697

, Interest Computation Under the Look-Back Method for

     Completed Long-Term Contracts

 62  

8716

, Election To Have a Tax Year Other Than a Required Tax Year

 63  

8810

, Corporate Passive Activity Loss and Credit Limitations

 64  

8816

, Special Loss Discount Account and Special Estimated Tax

     Payments for Insurance Companies

 65  

8820

, Orphan Drug Credit

 66  

8824

, Like-Kind Exchanges

 67  

8825

, Rental Real Estate Income and Expenses of a Partnership or

     an S Corporation

 68  

8826

, Disabled Access Credit

 69  

8827

, Credit for Prior Year Minimum Tax - Corporations

 70  

8830

, Enhanced Oil Recovery Credit

 71  

8832

, Entity Classification Election

 72  

8833

, Treaty-Based Return Position Disclosure Under

     Sec. 6114 or 7701(b)

 73  

8834

, Qualified Electric Vehicle Credit

 74  

8835

, Renewable Electricity Production Credit

 75  

8838

, Consent To Extend the Time To Assess Tax Under Sec 367 –

     Gain Recognition Agreement

 76  

8844

, Empowerment Zone Employment Credit

 77  

8845

, Indian Employment Credit

 78  

8846

, Credit for Employer Social Security and Medicare Taxes Paid

     on Certain Employees

 79  

8847

, Credit for Contributions to Selected Community Development

     Corporations

 80  

8858

, Information Return of U.S. Persons With Respect to

     Disregarded Entities

 81  

Schedule M (Form 8858)

, Transactions Between Foreign Disregarded

     Entity Owned by a Controlled Foreign Corporation and Filer or

     Other Related Entities

 82  

8860

, Qualified Zone Academy Bond Credit

 83  

8861

, Welfare-to-Work Credit

 84  

8865

, Return of U.S. Persons With Respect to Certain Foreign

     Partnerships

 85  

Schedule K-1 (Form 8865)

,  Partner’s Share of Income, Credits,

     Deductions, etc.

 86

 Schedule O (Form 8865)

, Transfer of Property to a Foreign

     Partnership

 87

 Schedule P (Form 8865)

, Acquisitions, Dispositions, and Changes

     of Interests in a Foreign Partnership

 88  

8866

, Interest Computation Under the Look-Back Method for

     Property Depreciated Under the Income Forecast Method

 89  

8873

, Extraterritorial Income Exclusion

 90  

8874

, New Markets Tax Credit

 91  

8881

, Credit for Small Employer-Pension Plan Startup Costs

 92  

8882

, Credit for Employer-Provided Child Care Facilities and

     Services

 93  

8883

, Asset Allocation Statement Under Section

 94  

8884

, New York Liberty Zone Business Employee Credit

 95  

8886

, Reportable Transaction Disclosure Statement

 96  

Form T

, Timber & Forest Activities Schedules

 97  

1120S

, US S Corporation Income Tax Return

 98

 1120S Sch D

, S Corporation Capital Gains and losses

 99  

1120S Sch K-1

, S Corporation Section

 Limitations for a

     Personal Service Corporation (PSC)

 100  

7004

, Application for Automatic Extension of Time to file

      Corporation Income Tax Return

Charities and Non-Profit Organizations

What:

The IRS e-file system provides the capability for exempt organizations to file their annual information and tax returns electronically using the Internet. The program includes Forms 990,

, 990EZ,

, Form 8868,

and Form 1120POL,

. New for 2005 will be Form 990PF,

.

Exempt organization returns are unique for three key reasons. First, tax-exempt organizations, by definition, do not generally pay income taxes. The primary purpose of their filing requirements is not to report taxes but to provide information on their programs and activities. This information verifies that organizations are operating in accordance with their stated tax-exempt purpose and are not violating the rules and regulations governing their tax exempt status.

Secondly, the returns are unique because tax-exempt organizations are required, by Internal Revenue Code section 6104, to make their information returns widely available for public inspection. This means that organizations must allow members of the public to inspect Forms 990/990EZ, and 990PF filed with the IRS. Exempt organizations are also required to provide copies of the returns when requested, or make them available on the Internet. Thirdly, exempt organization returns are unique because they are multi-jurisdictional forms, with nearly 40 states using Form 990/990EZ to satisfy their filing requirements.

Why:

Features and Benefits

Fast

To apply on-line go to the tax professionals page at http://www.irs.gov/e-file, click on e-Services and register to gain access to complete Form 8633, Application to Participate in the IRS e-file Program.

Who Can Participate

Exempt Organizations: Any exempt organization may participate in this program by filing their returns through an Authorized IRS e-file provider. Start talking with your practitioner or your software provider now to see if they plan to offer e-file for exempt organizations. A list of approved providers is available on http://www.irs.gov/efile.

Information:

Not only can you file Form 990/990EZ electonically, you may also e-file Forms 940/941, 1041, 1065, 1120/1120S, Information Returns, and 1040 Individual Returns.