 Internal Revenue Service IRS tax news IRS and Treasury issue final regulations on e-file for businesses Final regulations. I don't buy it with the government and regulations. Nothing's ever final. They love regulate You give them half a chance. They're gonna increase the regulations. I mean, you know, it's true Just look at that covet thing. Remember the covet thing where they're like, don't worry Just 15 days to slow the spread. That's all we need And then it's like five seconds later, you know, five seconds later, they come back and they're like, okay We just need to like social distance for like 60 days and that's it And then they come back again and you're like the goal the goal of these people and they're like last one I swear you can trust us. All we need is for all small businesses to just shut down You know, that's all we need. We just need to shut down the businesses And then they and then they come back again and they're like, this is it. This is the final regulation I'm for serious this time. I'm for serious. You can trust us We just need to mask the children. You know, that's it. We just need to mask the children like forever That's all we need to do and then they come back again And and they're like, you know, I hate to do this. I hate to do that I hate controlling people like this. You can see it in my eyes, but that's what I was born to do It's like my I was here to rule by by by government mandate here So in any case, we learned this one from tick tock and one of our top department of energy officials who always has these great ideas And this one everyone just needs to like take your dog's muzzle Modify it so it fits on your face And then only use the restroom when escorted by government approved potty experts Who will yank your choke chain if you miss the can or if there's like too much splash or something because you didn't aim You know for the side of the bowl In fact to avoid forcing government approved potty experts from strangling you by choke chain It's recommended you just sit down What no, that's not another rule. The sitting down thing isn't another rule It's just like an addendum to the last rule. The last one was the last rule This is just like a little modification. Anyways, why are you even whining about it? It's for your own safety for crying out loud. It's like what did do you want to be strangled to death by choke chain? It's a final regular talk about a slippery slope letting the government add regulations is way more Hasidus than those gateway drugs the dare program used to warn us about in high school I'll tell you what? Yeah, we we need some kind of school intervention program warning about government overreach or something like that Wait a second I I thought that used to be like history class Or like when they used to teach about the u.s constitution and stuff But wait a second The government would never lie about an emergency Just look at honest joe biden as he struts outside in ukraine Holy crap take cover mr. President those were air raid sirens. Wow. Look how calm he is If I was under immediate threat of being bombed my sissy ass would be looking to put a helmet on and die for cover or something But mr. President doesn't even check the skies for bombs or anything Like if the bombs did come they'd probably just bounce off his chest like he was superman All of your diseases are in perfect balance. Here's the door to your body You see and these are oversized novelty germ. Here's what happens when they all try to get through the door at once So what you're saying is I am indestructible. Oh, no, no in in fact even a slight breeze Unless unless possibly he's just lying about the state of the emergency Possibly staging the entire attack siren warning thing I mean didn't the administration admit they told russia that president biden was visiting ukraine So they shouldn't bomb it And the sirens went off right as he was walking outside with a perfect camera angle Like i'm i'm starting to think the only danger he was in What was from having a heart attack from the staged and timed siren going off thing My ear canals are very sensitive Look at this Huh? The hell you say Honest joe biden would never We have these to hold down the sound sir. Oh good. Thanks I are 2023 dash 31 february 21st 2023 washington the department of the treasury and the internal revenue service today issued final regulations Amending the rules for filing returns and other documents electronically e-file These regulations will require certain filers to e-file beginning in 2024 You got the td 9972. There's a link to that here affects filers of partnership returns corporate income tax return Unrelated business income tax returns withholding tax returns certain information returns restriction statements disclosure statements notifications actual reports and certain excise tax returns lot going on here for those those that will be affected The final regulations reflect changes made by the taxpayer first act the tfa To increase e-filing without undue hardship on taxpayers. So obviously they're trying to get the e-filing Up in this is an attempt to help with that effort So specifically the final regulations reduce the 250 return threshold enacted in prior regulations to generally require electronic filing by filers Of 10 or more returns in a calendar year The final regulations also create several new regulations to require e-filing of certain returns and other documents Not previously required to be e-filed Require filers to aggregate almost all information return types covered by the regulations To determine whether a filer meets the 10 return threshold and is required to e-file their information returns Earlier regulations applied to the 250 return threshold separately to each type of information return covered by the regulations eliminate the e-filing exception for income tax returns of corporations that report total assets under 10 million dollars at the end of their taxable year and require partnerships with more than 100 partners to e-file information returns And they require partnerships required to file at least 10 returns of any type during the calendar year To e-file their partnership return. So to help with this process the irs created a new free online portal There's a link to that here last year to help businesses file form 10 99 series information returns electronically So obviously those are the ones you got to send out to like contractors and whatnot So electronifying those types of returns No one has the information return intake system the iris of the iris the iris is watching us So we want to make we got to we got to make sure that we're in the iris Sites here. Let's take it upset. So this free electronic filing service is secure accurate and requires no special software Though available to any business of any size iris May be especially helpful to any small business that currently sends their 10 99 forms on paper to the irs So if you're sending paper returns, then you might look into the iris system So in recent years there has been tremendous growth in the availability of e-file services and the use of e-file across the tax filing spectrum in 2021 about 82 percent of all corporate income tax returns were Were e-filed and almost 90 percent of partnership tax returns were e-filed Further reducing the volume of paper returns filed Freeze up staff and resources to further enhance services for taxpayers and improves overall efficiencies while reducing postage printing shipping and storage and their associated costs and burdens So the irs receives nearly four billion information returns per year and expects to receive nearly five billion by 2028 and 2019 the irs still received nearly 40 million paper information returns Even though approximately 99 percent of all information returns for that year were e-filed So the final regulations generally provide hardship waivers for filers that would experience hardship in complying with the e-filing requirements and administration Exmititutive exemptions from the e-filing requirements to promote efficiency and efficient tax administration So there's links to those rules here and there'll be a link to this in the description