FinanceRegs.com » The tech-heavy future of tax compliance

The tech-heavy future of tax compliance

June 11, 2008 by Carol Katarsky
Posted in: Best practices, IRS regs, In this week's e-newsletter, Latest news & views, T&E, Tax compliance

We’re not at the point where you can count on getting rid of all paper in Payroll and A/P … but we’re getting a heck of a lot closer.

That’s especially true when it comes to IRS. The feds are moving aggressively to streamline filing procedures, modernize software and make more info and services available to you online.  

It seems to be working. IRS says that visits to its Web site were up 30% last year and there was a whopping 100% increase in businesses using e-filing.

To encourage the trend, IRS is rolling out new e-services that are open to tax pros, and “electronic return originators” who actively participate in the e-file program. The services include:

  • Transcript Delivery System – which allows you to request and receive account transcripts, wage and income statements and more.
  • Electronic Account Resolution — which lets tax pros send and receive account info to expedite problem solving, and
  • Disclosure Authorization — which lets you complete certain forms and receive acknowledgement of receipt electronically.

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