IRS recommends e-filing this tax season

January 23, 2015

Sovos

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This blog was last updated on June 27, 2021

The IRS has kicked off the 2015 tax season, and it recommends that taxpayers file electronically. While this advice is aimed at individual taxpayers, it does indicate how budget constraints will slow services this year.

“We encourage people to use the tools and information available on IRS.gov, particularly given the long wait times we anticipate on our phone lines,” said IRS Commissioner John Koskinen. “As always, taxpayers can benefit by filing electronically.”

The IRS noted processing times for paper-filed tax information are noticeably higher due to its short staff. With the 150 million individual returns the IRS will receive this year, there’s no telling how long it will take the agency to get to tax documents submitted by organizations.

Organizations should also e-file
With the IRS juggling a hefty workload, tight budget and implementation of reporting measures for the ACA and other new regulations, e-filing shouldn’t just be on the radar for individual taxpayers. While the agency requires only certain mid- to large-size corporations to e-file – those with 250 or more returns – e-filing has many benefits for organizations.

Not only is this process faster when it comes to gathering the tax documents, but also e-filing can speed up processing once the IRS has the paperwork, as indicated by the IRS press release. According to October 2014 data from the IRS, roughly 7 million partnerships and corporations e-filed during the 2014 tax season. With the ease e-filing creates and the IRS’ budgetary struggles, this figure may increase for the 2015 tax season.

Sovos

Sovos is a global provider of tax, compliance and trust solutions and services that enable businesses to navigate an increasingly regulated world with true confidence. Purpose-built for always-on compliance capabilities, our scalable IT-driven solutions meet the demands of an evolving and complex global regulatory landscape. Sovos’ cloud-based software platform provides an unparalleled level of integration with business applications and government compliance processes. More than 100,000 customers in 100+ countries – including half the Fortune 500 – trust Sovos for their compliance needs. Sovos annually processes more than three billion transactions across 19,000 global tax jurisdictions. Bolstered by a robust partner program more than 400 strong, Sovos brings to bear an unrivaled global network for companies across industries and geographies. Founded in 1979, Sovos has operations across the Americas and Europe, and is owned by Hg and TA Associates.

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