Tax Tip: Business Entities Now Required to E-File
Starting January 1, 2015, for any taxable year that began on January 1, 2014 or later (or in less technical terms for 2014 tax returns), any business entity filing an original or amended return using tax preparation software will be required to e-file the return. There are exceptions to the rule if there are technology constrains, e-filing would cause an undue financial burden, or if there is reasonable cause (an innocent mistake). Taxpayers can also request a waiver to not have to e-file the return. The IRS has stated that a wealth of information should be released soon to help taxpayers with this change.