US companies embrace e-filing

More than 12,500 of the largest companies in the US have filed their 2005
corporate tax returns electronically, according to the Internal Revenue Service.

Large companies – defined as those having assets of $50m (£26m) or more
– were required to e-file their 2005 tax returns, with 15 September the extended
deadline for doing so.

In total, more than half a million corporate tax returns were filed
electronically, most on a voluntarily basis across a wide array of industries,
WebCPA reported.

In a statement, the IRS noted that many business taxpayers used commercial
software to prepare their returns, with about 400 taxpayers transmitting the
return themselves.

E-filing has been available to corporations since 2004.

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