New requirements for business filers' 2006 returns.

• Author: Dolan, Michael P.
• Position: Tax Practice & Procedures

When filing 2006 corporate tax returns, many businesses will encounter new IRS requirements that significantly affect how they file. Some fliers of Forms 1120, U.S. Corporation Income Tax Return, and 1120S, U.S. Income Tax Return for an S Corporation, will be covered by phase two of a mandatory Service electronic-filing (e-filing) program, while others will wrestle with preparing to file a Schedule M-3, Net Income (Loss) Reconciliation for Corporations With Total Assets of $10 Million or More, for the first time...