Entities With Over Ten Information Returns for 2023 Must File Electronically.


The Department of the Treasury and the Internal Revenue Service (IRS) has issued final regulations amending the rules for filing information returns.  Starting in 2024, which corresponds to the 2023 calendar year, if you file an aggregate of 10 or more returns in a calendar year (drastically reduced from 250 returns) you will be required to e-file.

Example: In the tax year 2023 filing season, which corresponds to the calendar year 2024, Company W is obligated to submit 4 Forms 1099-NEC (Nonemployee Compensation) and 4 Forms 1099-DIV (Dividends and Distributions), along with 2 Form W-2 (Wage Statement), making a total of 10 returns. Since Company W is mandated to file 10 returns based on calculations for the calendar year 2024, corresponding to the tax year 2023 filing season, the company must opt for electronic filing for all its tax year 2023 Forms 1099-NEC and 1099-DIV with the IRS, and Forms W-2 with the Social Security Administration.

What Is an Information Return?

Information returns refer to documents, distinct from tax returns, mandated by the IRS to record specific financial transactions. The FIRE System allows electronic filing of the following forms.

A Guide to the IRS's New Online Portal, IRIS, Simplifying the Transition from Paper to E-File Process

The IRS has introduced a helpful online portal called the Information Returns Intake System (IRIS) to aid individuals who traditionally filed their forms on paper in navigating the e-file process for Forms 1099.

Let us provide assistance for you.

If you file with Avizo, we always file your forms electronically. As experts in the field, we are dedicated to assisting service-based organizations in achieving their objectives. Feel free to contact us if you would like to discuss the services that could enhance the benefits for your organization. Avoid the repercussions of penalties for noncompliance, including potential fines and legal consequences, by ensuring timely and accurate filing in the required manner. If you would like further clarification on this topic or assistance with electronically filing your information returns, please contact one of our experts at 251-928-2443.

Erann Thompson

Erann Thompson

Erann is our Director of Advisory Services and she collaborates closely with business owners to identify the optimal mix of accounting cloud applications, aiming to enhance efficiency and profitability for your business.

Work With Us

We have four office locations to best serve you and your business. Feel free to stop by, call, or send an email to learn more about our services.

Scroll to Top Call Us Now