Through the tax filing deadline of April 18, 2011, the IRS has reported that there were almost 101 million e-filed returns, representing an 8.8% increase from last year. This makes nearly one billion tax returns that have been filed electronically since the e-file program went national in 1990.
Taxpayers who have not yet filed their 2010 returns can still e-file through October 17, 2011. However, taxpayers who want to file amended returns for any tax year must submit them by paper; e-filing cannot be used for amended returns.
Source: IR-2011-46, April 18, 2011
A business method of accounting requiring income to be reported when earned and expenses to be deducted when incurred. However, deductions generally may not be claimed until economic performance has occurred.