📊IRS Notice on Business Electronic Filing and Tax Guidance
Agency Collection Activities; Comment Request for Guidance Necessary To Facilitate Business Election Filing
Summary
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on the continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning guidance necessary to facilitate business electronic filing under section 1561, guidance necessary to facilitate business electronic filing and reduction, guidance necessary to facilitate business election filing; finalization of controlled group qualification rules, and limitations on the importation of net built-in Losses.
Agencies
- Treasury Department
- Internal Revenue Service
Business Impact
$$ - Med
The text outlines IRS guidance that affects how businesses file taxes electronically and comply with regulations related to controlled groups and importation of losses. This has direct implications for business operations, filings, and potentially financial liabilities or benefits.