The IRS recently issued final regulations addressing the electronic filing requirements for certain informational returns that will take effect during calendar year 2024. The regulations affect persons required to file partnership returns, corporate income tax returns, unrelated business income tax returns, withholding tax returns, certain information returns, registration statements, disclosure statements, notifications, actuarial reports and certain excise tax returns. Common returns covered by this regulation include Forms 1099, 1042 and 1095. Many businesses will need to update technology and processes to accommodate for these changes to the IRS filing requirements.
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