Tax Article - E-Filing Requirements for 2005

For 2005, Massachusetts requires most business tax returns to be filed and paid electronically:

Corporations (C or S) must file and pay if they have gross receipts of more than $100,000 for 2005.
Partnerships must file if they have income or loss in excess of $50,000 or if they have 25 or more partners.
Trust returns and exempt organizations are not required to file electronically. However, trusts must pay electronically if they have $50,000 or more in Massachusetts income taxes.
Please remember that if you filed electronically last year, you must file electronically for 2005 (and all future years) even if you fall below the above thresholds.

In addition, the Internal Revenue Service requires some returns to be filed electronically for 2005:

Corporations (C or S) with assets at 12/31/05 of $50 million or more must file their federal return electronically.
Exempt Organizations with assets at 12/31/05 of $100 million or more must file electronically.
Partnerships must file if they have more than 100 partners.

Feeley & Driscoll prepares tax returns in accordance with these rules.

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