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

Section 1231 property

Depreciable property used in a trade or business and held for more than a year. All Section 1231 gains and losses are netted; a net gain is treated as capital gain, a net loss as an ordinary loss.

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