BTB Stock Income Tax Updates

E-Filing Exemptions Due to Religious Beliefs

The IRS has issued Notice 2024-18 addressing the availability of administrative exemptions from the requirement to file certain returns and other documents in electronic form and the procedure to request a waiver of the requirement to file electronically. 

Under the updated electronic filing regulations (T.D. 9972), most filers claiming the religious exemption have the option to submit Form 8508, Application for Waiver from Electronic Filing of Information Returns. However, filers of Form 1120, Form 1120-F, Form 1120-S, and Form 1065 claiming the religious exemption do not file Form 8508 and should instead file the tax return in paper form, printing in bold letters “Religious Exemption” at the top of page 1. Filers who qualify for the religious exemption for the above listed forms are not subject to the electronic filing waiver procedure that is available to other filers. The updated electronic filing regulations are generally applicable beginning January 1, 2024.

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