Daily Tax Update - January 4, 2013: IRS Oversight Board Releases Electronic Filing Report

IRS OVERSIGHT BOARD RELEASES ELECTRONIC FILING REPORT:  The IRS Oversight Board released its Electronic Filing 2012 Annual Report to Congress. The Board estimates that individual e-filed returns grew by seven percent in 2012, breaking the 80% e-file goal set by the IRS Restructuring and Reform Act of 1998 (RRA 98).

  • According to the report, "Approximately 119 million of individual income tax returns, about 81%, were filed electronically in 2012. However, the IRS fell short of the subsequent goal established in 2007, in conjunction with the IRS Strategic Plan, that 80% of all major individual, business, and tax exempt returns be electronically filed by 2012. The Board estimates that the e-filing rate for all major tax returns was 71%, nine points below the established target.”
  • The report can be accessed via: http://www.treasury.gov/irsob/

INTERNAL REVENUE SERVICE - CIRCULAR 230 DISCLOSURE:  As provided for in Treasury regulations, advice (if any) relating to federal taxes that is contained in this communication (including attachments) is not intended or written to be used, and cannot be used, for the purpose of (1) avoiding penalties under the Internal Revenue Code or (2) promoting, marketing or recommending to another party any plan or arrangement addressed herein.

STEPTOE & JOHNSON LLP - TAX PRACTICE  Steptoe & Johnson LLP has one of the largest and most diverse law firm tax practices in the country.  The practice covers the entire spectrum of federal taxation, including representation of businesses before the Congress, Treasury and the national office of the IRS; transactional planning for domestic and multinational corporations; complex audit and controversy work for corporations and other business interests contesting IRS adjustments; litigation before the Tax Court, Court of Federal Claims, district courts, courts of appeals and the Supreme Court.  The firm's tax practice also encompasses all aspects of employee benefits (ERISA), executive compensation, tax-exempt organizations and charitable giving.  Steptoe has an extensive state and local tax practice, representing an array of business clients on complex sales and use tax, corporate income tax and property tax matters, both advising those clients and handling audits, administrative appeals, and litigation for them. Read more information on Steptoe's tax practice.