A posting from Barr Joan (US IRS Modernized e-File Team) announces the release of new XML schemas governing the e-filing of income tax information for US corporations. The distribution includes some 750 new XML schema files used by tax preparation software developers and tax preparers in automated e-filing and validation of IRS forms data. The schemas cover TY2002 1120 forms, including the Production Release Version 1.0 (53 forms) and Candidate Release Version 2.0 (43 forms). IRS Form 1120 "is used to report the income, gains, losses, deductions and credits, and income tax liability of a corporation. All domestic corporations (including corporations in bankruptcy) must file whether or not they have taxable income. IRS Form 1120S is used to report income, deductions gains, losses, etc., of a domestic corporation that has elected to be an S corporation by filing Form 2553, Election by a Small Business Corporation, and whose election is in effect for the tax year and until terminated. The IRS is vigorously designing an electronic filing process for Forms 1120 and 1120S under the IRS e-file program. The 1120/1120S e-file program is scheduled to begin in January 2004. Upon completion, the 1120 program will have file and pay capability and returns will be processed on a transaction basis rather than in batch mode. Any business taxpayer who files Form 1120/1120S may e-file their return through an Authorized IRS e-file provider." In January 2003 the IRS began accepting XML-based electronic filing for the 94x series, including Form 940 (federal unemployment taxes) and Form 941 (employers' quarterly federal taxes).
IRS Modernized E-File Project (MeF)
The 1120/1120S e-file Project that the IRS has been reporting on since 2001, is now known as Modernized e-file (MeF). MeF utilizes a new architecture for processing returns and will accept and validate tax returns in Extensible Markup Language (XML) format. The MeF Project has redesigned the e-file Reject Codes into an easier to understand format in broad categories like Missing Document or Multiple Documents. An example of these restated business rules can be found on the IRS Web site... During the past several months, software developers have collaborated with the IRS on several issues including reject conditions, attachments to returns, consolidated returns and Internet filing... There is also a general information Fact Sheet for the MeF programs..." [from the "Update to the 1120/1120S Corporate Tax Return e-file Project," in SAA/IRS Reporter, Spring 2003]
Related IRS Tax Forms: Political Orgs
Political Orgs: Form 8871 and Form 8872 Political Organization XML Tax Schema Information. "Presently [2003-04], political organizations which are required to file Form 8871 must do so electronically. Beginning July 1, 2003, those political organizations which are obligated to file Form 8872 will likewise be required to do so electronically. While the IRS provides the ability for political organizations to file these forms electronically with a web-based filing application, we also will provide the ability for organizations to upload XML data files containing the information required to be reported on these forms. Draft schemas for the XML files may be uploaded; please be aware that there may be minor changes to these schemas prior to implementation of the upload capacity..."
- Form 1120/1120S e-file. E-filing for Form 1120 (U.S. Corporation Income Tax Return) and Form 1120S (U.S. Income Tax Return for an S Corporation).
- IRS e-file 1120 Corporate Income Tax Schemas: Production Release
- IRS e-file 1120 Corporate Income Tax Schemas: Candidate Release 2
- e-file Providers: XML General 1120/1120S Schema Information
- e-file Providers: 1120/1120S XML Schema Release Schedule
- "Composing 1120 Return Transmission Files: An Overview." Release 1.0 Draft. September 25, 2002. 35 pages. [cache]
- IRS 1120x Business Rules. Release 1, Tax Year 2002. The complete restated business rules document is "organized into two sections: Section 1 contains rules with severity 'Reject' and 'Reject and Stop' and Section 2 contains rules with severity 'Alert'..." [source .DOC]
- IRS e-file Programs. Website location; "find the latest information on new and exciting IRS e-file programs in development including electronic filing of Form 1120/1120S for Corporations; Forms 1120POL, 990/990EZ and the new e-services initiative."
- Modernized e-file: 2002 IRS Software Developers Conference Notes
- See also: 94x XML News and Announcements for e-file Providers
- See also: Political Orgs: Form 8871 and Form 8872 Political Organization XML Tax Schema Information.
- Contact: ETA 1120 Team [Xan Ostro, ITS Team, +1 (202) 283-7697 or Joan Barr, ETA Team, +1 (202) 283-2572]
- "US Internal Revenue Service and SGML/XML for Tax Filing" - Main reference page.
- "XML Markup Languages for Tax Information" - Main reference page.