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The IRS has announced a release date of August 2009 for the modernized e-file (MeF) Form 1040. The MeF program is the newest generation IRS e-file computer system. It is currently required for large corporations, partnerships, and exempt entities. The Service expected to receive 1.5 million MeF returns during the 2006 filing season.
Approximately 130 million individual income tax returns are currently filed each year, and close to 54% of these are filed electronically using the existing legacy system. Thus, development of the MeF 1040 for this broader appfication will require a substantial time and resource commitment by both the IRS and third-party software developers.
According to Paul Mamo, director of the IRS Office of Electronic Tax Aclministration Development Services, the MeF 1040 August 2009 release date was chosen to accommodate a lengthy 24-month development cycle. In addition, a non-peak release date allows the IRS to more easily monitor initial system performance.
First Release
The first release of the MeF...