1040PC Form

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1040PC Form

A version of the 1040 Form that consisted of fewer pages. The 1040PC allowed taxpayers to prepare their tax return on a computer; it consisted of a bottom line number, a dollar amount, and an explanatory column called a legend page. It was introduced in 1993 and discontinued in 2000 as e-filing became more prominent.
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The target population consists of all individual income tax returns (Forms 1040, 1040A, 1040EZ, and 1040PC, including electronic returns) filed by U.S.
Form 1040PC use is down nearly 20 percent this year.
AGI is based on a sample of individual income tax returns that is drawn from filers of forms 1040, 1040A, 1040EZ, and 1040PC, including electronic returns; the sample excludes filers of forms 1040NR and 1042, which are used by NIPA nonresident aliens to report their income.
Previously, only those who filed electronically or who used the 1040PC computer program were eligible.
For many firms, the 1040PC format is a practical alternative to EFS.
Tax return preparers and taxpayers currently have three alternative methods for filing income tax returns: mailing traditional paper returns, mailing condensed PC paper returns such as the 1040PC, and tax returns transmitted under the IRS's Electronic Filing System (EFS).
The 1040PC format return consists of a computer-generated condensed three-column return.
The target population consisted of all Individual Income Tax Returns (Forms 1040, 1040A, 1040EZ and 1040PC, including electronic returns) filed by U.S.
Beginning in tax year 1995, revenue procedure 94-34 said, the IRS would accept only returns filed electronically, computer-generated forms 1040PC, IRS-published originals or exact duplicates.
Another option to be featured is IRS form 1040PC, which is used with tax preparation software; with this option, only lines that have entries are printed on the form that is submitted.
1994 Filing season statistics Individual income tax returns 1993 1994 % change Total receipts 89,782,000 82,847,000 -7.7 Total processed 64,733,000 64,051,000 -1.1 Filing alternatives-- total receipts Electronic filing 12,153,000 13,147,000 8.2 1040PC format 2,618,000 3,151,000 20.4 TeleFile 147,000 508,000 245.6 Refunds certified by the Martinsburg Computing Center Number 52,283,000 51,748,000 -1.0 Amount of principal $50.979 billion $53.033 billion 4.0 Average refund $975 $1,025 5.1 Source: Internal Revenue Service