New IRS Electronic File Mandate Set for 2024
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.
Latest from NAHBNow
Education
Sep 28, 2026
Utilize Competive Analysis Tools to Boost Home Sales Skills
Despite persistent affordability challenges including elevated mortgage rates, new home sales improved in August. Now is a great time to sharpen home sales skills.
Economics
Sep 28, 2026
Median Revenue of NAHB Remodelers Grows 24%
According to the NAHB Member Census, 21% of NAHB builder members listed residential remodeling as their primary business. These remodelers tend to be relatively small, with a median of five employees and a median annual revenue of $2.1 million.
Latest Economic News
Economics
Sep 28, 2026
Market Share of 5,000+ Sq. Ft. Homes Edges Higher in 2025
New homes with 5,000 square feet or more of living space posted an increase in market share last year. In 2025, 27,000 homes of this size were started, accounting for 2.9% of all new homes started. Both the number and market share of homes with 5,000 square feet or more increased from 2024, according to annual data from the Census Bureau’s Survey of Construction (SOC).
Economics
Sep 28, 2026
NAHB Remodelers: What the Data Says
Twenty-one percent of NAHB builder members listed residential remodeling as their primary business, according to the 2025 Member Census. These remodelers tend to be relatively small, with a median of five employees and a median annual revenue of $2.1 million. This means that remodelers are even smaller than NAHB builder members, who had a median of six employees and median annual revenue of $3.7 million, as reported in a recent post.
Economics
Sep 25, 2026
State and Local Government Tax Revenue Grows
Total tax revenue collected by state and local governments was up 5.8% from a year ago in the second quarter, according to the Quarterly Summary of State and Local Government Tax Revenue published by the U.S. Census Bureau. This was the highest year-over-year growth since the third quarter of 2024 (7.2%).