Tuesday, July 24, 2007

New IRS Electronic PIN Signature Requirement

Starting in the 2008 tax filing season, the Internal Revenue Service (IRS) will simplify the signature process for e-filed tax returns submitted by tax practitioners. The simplification will eliminate the need for a paper document to be sent to the IRS by having tax practitioners e-file individual income tax returns only when they are signed electronically using one of two methods: a Self-Select Personal Identification Number (PIN) or a Practitioner PIN. "Nearly 90 percent of tax professionals already use electronic signatures to sign returns," Acting IRS Commissioner Kevin M. Brown claimed. "It’s the right time to take the next step toward truly paperless filing." According to the IRS’s website, out of the 55 million e-filed returns that have come from tax professionals this year, more than 49 million used the Self-Select PIN or the Practitioner PIN.

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