INFORMATION RETURNS FILING THRESHOLD:

Beginning January 1, 2024, the electronic filing threshold for information returns will reduce from 250 documents to 10 for filing season 2024. Until now, only those who filed more than 250 information returns were required to file electronically and the 250-return threshold was applied separately to each type of information return. Now, filers need to combine all information return types to determine if they meet the 10-return threshold and the requirement to file electronically applies to them.

To make e-file easier for those who have traditionally filed paper information returns, the IRS recently launched the Information Returns Intake System (IRIS). If you are new to electronic filing and not an existing Filing Information Returns Electronically (FIRE) customer, consider using the new 1099 Taxpayer Portal located on IRS.gov/IRIS that provides a no-cost option for electronic filing information returns. A recorded webinar explains this change, how it affects you and additional ways to file information returns electronically.