The Internal Revenue Service announced today the number of tax returns e-filed by businesses rose nearly 9 percent this year, continuing the growth in the number of corporate and partnership returns filed electronically. This year, an additional 625,000 corporations and partnerships chose to e-file their tax returns.
As of Sept. 20, almost 8 million corporations and partnerships e-filed their income tax returns. The IRS estimates that e-file accounts for 77 percent of all corporate and partnership returns filed during 2015. Many corporations and partnerships operating on a calendar year receive filing extensions. The due date for filing a return after filing for an extension is usually Sept. 15.
Most large corporations and partnerships are required to e-file.
Large and mid-size corporations, generally those with $10 million or more in total assets, are required to electronically file their Forms 1120 or 1120S. Partnerships with more than 100 partners (Schedules K-1) are also required to e-file their tax returns. The IRS is seeing growth in e-filing by all business segments.
This year, a record 100,000 large corporations e-filed their returns, an increase of 8 percent compared to the same time last year. The greatest rate of growth in e-filing among these businesses is by large partnerships. This year, 142,237 large partnerships e-filed their tax returns, up almost 16 percent from the same time last year.
Tax Returns e-filed by Corporations and Partnerships
|Category of e-filers||Sept. 21, 2014||Sept. 20,2015||%Change|
|Large Corporation Tax Returns||92,494||100,052||8.2%|
|Other Corporate Returns||4,373,597||4,720,698||7.9%|
|Total Corporate Returns||4,466,091||4,820,750||7.9%|
|Large Partnership Tax Returns||122,879||142,237||15.8%|
|Other Partnership Returns||2,640,319||2,891,466||9.5%|