New IRS Electronic File Mandate Set for 2024

Tax Reform
Published
Contact: J.P. Delmore
[email protected]
AVP, Government Affairs
(202) 266-8412

NAHB is reminding all business owners to work with their tax professionals to ensure you are prepared for the new mandatory e-file requirements taking effect next year.  Starting in 2024, taxpayers submitting 10 or more returns, which includes Form 1099, must file most tax return information electronically.  For 2023, taxpayers are only required to file electronically if submitting more than 250 returns.

In February, the Internal Revenue Service (IRS) released final rules for electric filing of returns pursuant to The Taxpayer Fairness Act (TFA) of 2019.   The TFA allowed the IRS to reduce to 10 the threshold number of returns where the IRS may mandate e-filing beginning in 2023, but the IRS delayed those changes until 2024 to allow taxpayers more time to prepare.

The final regulations require taxpayers to aggregate almost all information return types in determining whether they meet the 10-return threshold. Returns affected include partnership returns, corporate income tax returns, unrelated business income tax returns, withholding tax returns, and registration statements, disclosure statements, notifications, actuarial reports and certain information and excise tax returns.

Taxpayers may use tax preparer services or software to file returns, or 1099 returns may be filed at no cost through the IRS’ newly released Information Returns Intake System (IRIS). The IRS has provided an instruction video on use of the IRIS system as well as a general user guide.

Failure to file electronically can result in a penalty of $250 for every paper return filed above the 10-return threshold.

Subscribe to NAHBNow

Log in or create account to subscribe to notifications of new posts.

Log in to subscribe

Latest from NAHBNow

Legal

Jun 25, 2026

NAHB Legal Action Fund Awards $175,000 in Legal Support at Spring Meeting

At its recent meeting at the 2026 Spring Leadership Meeting in D.C., the NAHB Legal Action Committee reviewed requests for Legal Action Fund assistance and recommended a total of $175,000 in legal grants, which was approved by the NAHB Board of Directors.

Housing Finance

Jun 24, 2026

HUD Announces 14 Regulatory Changes to Help Lower Housing Costs

The U.S. Department of Housing and Urban Development announced 14 policy changes to its Federal Housing Administration (FHA) Single Family mortgage insurance program aimed at lowering costs, easing regulatory burdens, and improving affordability for Americans using FHA-insured mortgages.

View all

Latest Economic News

Economics

Jun 25, 2026

State-Level Economic Growth Strengthened in the First Quarter of 2026

State economic growth strengthened in the first quarter of 2026, with real GDP increasing in 46 states and the District of Columbia. According to the Bureau of Economic Analysis (BEA), state-level growth rates ranged from a 4.5% annualized increase in Washington to a 1.6% decline in South Dakota, while Delaware’s economy was essentially unchanged during the quarter.

Economics

Jun 25, 2026

PCE Inflation Hits 3-Years High in May

As the Iran conflict pushed up energy prices, the Personal Consumption Expenditures (PCE) Price Index—the Federal Reserve’s preferred inflation gauge—accelerated to a three-year high in May.

Economics

Jun 24, 2026

Affordability Concerns Push New Home Sales Lower in May

Elevated mortgage rates, rising inflation and economic uncertainty kept many buyers out of the market in May as consumers and builders continue to deal with challenging affordability conditions. While monthly sales activity softened, builders continue to operate in a market characterized by cautious buyers and persistent financing constraints.