IRS Drastically Reduces E-filing Threshold for Information Returns. In February 2023, the IRS issued a new regulation mandating electronic filing for entities that file more than 10 information returns in a calendar year. This long-anticipated reduction in the e-filing threshold, which was previously set at 250 forms, was authorized as part of the Taxpayer First Act (TFA) of 2019. The new electronic filing threshold applies to information returns required to be filed after December 31, 2023.
- Blank forms can be used for either 1099 or W-2 form filing.
- 1099 and W-2 Blank Recipient-Only Sets are designed for organizations that will be required to e-file.
- Any business or entity that must file 10 or more covered forms for a single tax year will be required to file electronically with the IRS.
- These sets do not need Copy A or transmittal forms.
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