The Internal Revenue Service has given corporations and tax-exempt organizations a new option for submitting their returns this season.
Through an updated e-filing service, tax filers can use the Web and a secure broadband connection to submit Form 1120 corporate income tax and Form 990 tax-exempt company returns. IRS officials announced the new service last week, touting it as one of the success stories of the tax systems modernization program.
The Form 1120 e-filing service could make a big difference in how some Fortune 500 companies file their bulky returns. The secure broadband filing option replaces a slower dial-up service, IRS officials said.