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%
Total Partnerships 2,763,198 3,033,703 9.8%
Total Returns 7,229,289 7,854,453 8.6%
