1040PC Bites the Dust
The 1040PC provided a paper-saving method for filing tax returns, by presenting a scannable tax return prepared on a computer. The method didn’t quite catch on, and with the momentum that electronic filing has gained, the IRS feels the time is right for dropping the 1040PC format altogether.
The 1040PC format will not exist in the spring of 2001, and will therefore not appear as an option on computer programs that prepare tax returns. Instead, the IRS is recommending that taxpayers switch over to the e-file format.
President Clinton earlier this year promoted a $10 tax credit for taxpayers who file electronically. This credit has not come to pass, but may yet become law, thus providing another incenetive for taxpayers to use the electronic filing process.
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.