Mandatory e-filing for some corps, exempt organizations.The IRS An abbreviation for the Internal Revenue Service, a federal agency charged with the responsibility of administering and enforcing internal revenue laws. will require certain large corporations and tax-exempt tax-ex·empt adj. 1. Not subject to taxation, as the capital or income of a philanthropic organization. 2. Producing interest that is exempt from income tax: tax-exempt bonds. n. organizations to e-file For US IRS electronic tax filing, see . EFILE is the system used by the Canada Revenue Agency as a means for electronically transmitting tax returns. EFILE is only available to professional tax prepares and is not to be confused with the publicly available NETFILE. their income tax or annual information returns beginning in 2006. [ILLUSTRATION OMITTED] For tax year 2005 returns due in 2006, the regulations require corporations with total assets of $50 million or more to e-file Forms 1120 and 1120S. In addition, tax-exempt organizations with total assets of $100 million or more will be required to e-file their tax year 2005 Form 990. For more, visit www.irs.gov/newsroom/article/0,,id=133977,00.html. sweet home California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). : Only 19% of California households can afford a median-priced home, down 6% from last year.--California Association of Realtors |
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