June 13, 2011 12:00 am

More than One Billion Returns e-Filed

The IRS e-file program has now passed the one billion return mark. The program started with a pilot program in 1986. At that time, there were five preparers in three cities, with a total of 25,000 returns filed. Four years later, the e-file program went nationwide and 4.2 million returns were filed.

In 2003, the IRS and the Free File Alliance, a consortium of tax software companies, launched the Free File program. This enables millions of taxpayers to prepare their returns online and file them electronically at no cost.

In the 2011 tax season (for 2010 tax returns), more than 100 million returns were filed electronically. This represents three out of every four returns filed.

Source: IRS Fact Sheet 2011-10

 

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Tax Glossary

Capital gain distribution

A mutual-fund distribution allocated to gains realized on the sale of fund portfolio assets. You report the distribution as long-term capital gain even if you held the fund shares short term.

More terms