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I would like to welcome everyone to our taxpayer first TFA 2031 Electronic Filing E-file for Information Returns webinar today.

I am going to kindly ask that you put yourself on mute If you're not currently on mute or if I can have any of the moderators make sure everyone is muted before we get started.


Thank you for those hands.

You want to go ahead and put those down for me, That would be great.


Well, good afternoon and thank you for joining this webinar.

Before we get started, I want to make sure that we're all in the right space.

This webinar is for the Taxpayer First Provision 23O1 Electronic Filing E-file For Information Returns.

If you should have any difficulties during the webinar, it is being recorded and will be posted to at a later date.

During this webinar, we will have a live Q & A at the end and you'll have an opportunity to ask questions.

There are no CE credits for this webinar and material for the webinar will be made available after this session.

I kindly ask that you hold your questions until the end.

At that time, we will open up the forum using the Raise Hand feature and you'll be able to ask your questions.

OK, let's get started.

Again, good afternoon and greetings.

I am Caniece Bynum from Electronic Products and Services Support, and in today's webinar, I will discuss the changes to the Electronic Filing Threshold For Information Returns which were mandated by the Taxpayer First Act Provision 23O1.

Throughout this webinar, I will explain the new e-file Threshold requirement for Filing Information Returns, identify affected Information Returns due to the e-file Threshold requirement and describe how to comply with the e-file Threshold mandate.

By raise hands, who has heard of TSA 23O1?

This is the E filing Threshold Requirement.

Thumbs up.

Raise hands.


OK, all right.

Well, the Taxpayer First Act Provision 23O1 final regulations were issued by the Department of Treasury and the Internal Revenue Service on February 21st, 2023.

Treasury decision, or TD9972 amends the rules for filing Information Returns and other documents electronically, also known as e-file.

You can review the entire final regulation by accessing the link that will be posted in the chat and that will give you more information on the full Treasury decision of 9972.

There may be some individuals here on this call who are unfamiliar with Information Returns, so let me explain what that is a little bit.

The Information Return is a record other than a tax return, such as a 1040 that the IRS requires to document certain financial transactions.

You're probably wondering when this regulation will take effect, and that's a great question.

Beginning January 1st, 2024, the electronic filing threshold for Information Returns will reduce from 250 to 10 for information returns that are filed for tax year 2023.

So what does that all actually mean?

Well, until now, those who filed more than 250 Information Returns were required to file electronically, and the 250 return threshold was applied separately to each type of Information Return.

Now, under the new final regulations, filers would need to combine all Information Return they file to determine if they meet the 10 return threshold and if the requirement to file electronically applies to them.

I will provide an example later in the presentation on how to calculate if you meet the 10 or more Information Return and if you're required to file electronically.

On this slide, this shows the 14 Information Return types that are affected by the threshold change.

I'll pause here for a moment and give you a chance to jot them down.

While you may be still writing, I would like to call your attention to a few things.

The following Form 1098 MA is excluded from the threshold change.

Form 1099 QA can be processed via the Information Return Intake System Taxpayer Portal, known as IRIS, but not through our fire system.

Also, the W2's will be submitted directly to SSA but must be included when calculating the threshold.

Refer to the general instructions for forms W2 and W3 for additional information.

Now I have provided an example.

I will show you how to determine if you meet 10 Information Return or more threshold to electronically file.

Few things you should keep in mind.

You should identify how many Information Returns of any type that are covered by Treasury Decision 9972, you will need to file during a calendar year and if that number is 10 or more you must file electronically.

So here on this example we are determining if you would meet or this company would meet the requirements to file electronically during calendar year 2024, for tax year 2023.

Company W is required to file four 1099 NEC's which is your Non Employee Compensation, four 1099 DIV's your dividends and distributions, and two W2's.

I'm going to pause here for a minute.

I'm going to ask a question, based on this example, would this company be required to file electronically?

Put your answers in the chat.

So the question that I posed, would they be required to file electronically based on the information that has been provided?

If you can put your answer in the chat, that would be great.

Thumbs up.


That means yes.


I see some thumbs up.

Okay, awesome.

Thank you for the engagement.

I appreciate it.

You're correct.

The answer is yes, because company W is required to file ten Information Returns, the four, four and two give us a total of 10, as calculated during the calendar year for 2024, for tax year 2023, Company W must file all of its 20 tax year 2023 forms 1099 NEC's and 1099 DIV's with the IRS and forms W2 with the Social Security Administration.

I should note, also that under TFA Provision 23O1 corrected Information Returns must be filed electronically if the original is submitted electronically.

Also, you must use the same system that was used to file the original information return.

The corrected Information Returns are not calculated and counted, are not counted by calculating the total number, to determine if you are required to file electronically, let me repeat that again.

Corrected Information Returns are not counted when calculating the total number to be determined if you are required to file electronically.

However, if the original Information Return is filed on paper, then the corrected Information Return must be filed on paper. To ensure that you can comply with the final regulation, the IRS does have platforms that may be a solution for you to make electronic filing easier for those who have traditionally filed paper, file paper Information Returns.

The IRS has three intake systems to choose from to meet your filing requirements.

One, the Affordable Care Act Information Return, AIR.

Filing Information Return Electronically, FIRE System, and Information Return Intake System, IRIS Taxpayer Portal.

I will pause here for a minute if you want to capture those physical site addresses...and as you can see from the slide here, the Affordable Care Act forms 1094 and 1095 are only accepted through AIR.

All the Information Return types for the exception of the 1094, 1095 and as I mentioned earlier, the 1099 QA are accepted through FIRE and only at this time does the 10th form 1099 be accepted through IRIS.

The use of the Information Return intake system can meet your needs whether you are affected by the change or appreciate having the convenience, security and ease of filing electronically e-filing.

We encourage you to use the links on which have been provided on the screen to explore these three options to decide which one best meets your electronic filing needs.

Now, we do understand that at times, you may experience a hardship.

If that should happen, that prevents you from complying with the TFA provision 23O1.

You can submit a Form 85O8.

That's 8508.

Request a Waiver from Electronic Filing of Information Returns.

Keep in mind that the waivers differ between form types, so refer to the form instructions and publications as appropriate.

There are several resources that are available. To learn more about Treasury Decision 9972, TFA 23O1 Regulations, or additional forms that may affect your other tax filing obligations, we encourage you to visit and search TD 9972.

If you are new to electronic filing information returns, I encourage you to visit Information Returns to learn more about our different intake channels, AIR, FIRE, and IRIS.

This website aims to give you a brief overview of what can be filed on each and provide links for additional information.

Thank you for joining, and we ask that you have a great rest of your day.