Both houses of Congress passed a law extending unemployment benefits today, and as part of an amendment to the bill, tax language was included requiring tax preparers expecting to file more than 10 individual returns to file returns through e-file. The amendment also extended the homebuyers credit past the end of this month and extended the five-year NOL carryback to other than small businesses.
Last Thursday, I weighed on the homebuyer credit; no reason to comment further today on that. Regarding e-file requirements, while the libertarian in me objects to this type of rule, I suspect that in practice the massive majority of people preparing tax returns for a living were already e-filing. I do not have a strong opinion on the NOL carryback; guess this might help some companies who were profitable before last fall's recession get money back from the government faster.