S Corporations: Duluth/Gwinnett CPA Explains Electronic Filing
Most corporations are permitted file their 1120S forms and forms related as well as schedules and attachments via the IRS E-File Program or Electronic Filing as well as their corporate extensions for their business..
Although this is true, there are a few exceptions, these following are exceptions and therefore cannot file electronically normally:
Returns for prior periods when filing for old back late filed tax returns.
Returns with requests for overpayment to be applied from another account (not a estimated tax payment that was originally done and intended to be applied against the company).
Some business’s on the other hand are required to file electronically. If a corporation holds assets over $10 million then they are generally required to turn in their Form 1120S electronically, even if the first of the above exceptions apply. Some corporations can request to opt out of electronic filing by requesting a waiver from the IRS.
You can visit www.irs.gov/efile to figure out more about electronic filing.