The Indoor Tanning service providers are charged with 10% of excise tax for the tanning service they offer. One of the first revenue provisions in the Affordable Care Act to be implemented was the indoor tanning services excise tax, which went into effect on July 1, 2010. The provision applies to almost all businesses that operate ultraviolet tanning lamps, which are required to collect a 10-percent tax on all sales of tanning services.
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Electronic Filing for Federal Excise Taxes
The foremost is IRS could receive your returns and process it faster than any other way of filing. Choosing online filing or electronic filing eliminated all possible human errors that could happen in a tax return. Let see some of the larger benefits of e-filing Form 720 returns.
- Faster Processing – e-filed returns are processed much faster than paper filed returns.
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- Greater Accuracy in Processing – accurate tax calculation based on the entries you make and will not sent an incomplete return to IRS.
- Pay Right – while you e-file you pay the tax that you owe not extra or less.
- Electronic Payment – convenience of direct withdrawal of tax due and EFTPS option to make payments.
- Less Hassle, No Mails – no mailing of paper returns and waiting for mails for weeks, everything is managed electronically and digitally.
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- No more typos – while you e-file you won’t get typos such us 1 for I or 0 for o etc.
Electronic filing is by and large the best way of reporting Quarterly Federal Excise Tax Form 720 returns with the IRS and get the best available resources. The most trusted and top rated website since 2007.
3 Simple Steps to complete your Quarterly Federal Excise Tax Form 720. Sign Up Now!
The IRS Tax Form 720 is used to report and pay the Federal Excise tax returns with the IRS. Taxes are filed year on year, quarter to quarter; yes, another year, another tax return. We inch closer to the 2nd quarter filing deadline, July 31 is the last date to get it reported with the IRS.
IRS Tax Form 720 – Federal Excise Tax Reporting
Many of the business taxpayers who deal with specific goods or services that are manufactured in or imported into the U.S. incur Excise Taxes which is often included in the price of the product, like gasoline or alcohol, so you might not even realize you’re paying them. Let us redefine some of the general question exactly what is Form 720? What is an excise tax? Well before starting with Form 720, let us know that IRS Form 720 consists of three parts, as well as Schedule A, Schedule T, and Schedule C sections and a payment voucher (called Form 720-V). If your business is responsible for completing Form 720, you must do so quarterly and can file electronically or by mail. Payments for excise taxes, however, are required on a semimonthly basis and should be made by electronic funds transfer.Continue reading Decoding Form 720 Federal Quarterly excise tax return
The federal quarterly excise tax returns are due now for the 2nd Quarter of 2019. Electronic filing could save your time, effort and money. Yes, getting started with Form 720, Federal Excise Tax reporting is easy and fast at TaxExcise.com.
Federal Excise Tax Reporting
If your business deals in goods and services that are subject to excise tax—like air transportation, indoor tanning service, PCORI, fishing equipment, or gasoline—then you’ll have to complete IRS Form 720. Form 720 must be filed with the IRS on a quarterly basis in order for your business to report and pay your federal excise tax liability.
Although many business owners still prefer to work on paper, you may be able to save yourself both time and hassle by utilizing the IRS’s e-file program. Completing the form electronically will save you money on paper and stamps—plus, you won’t be relying on your mailing system to make sure you meet your deadline.Continue reading Second Quarter Federal Excise Tax Online Reporting is Due this July 31
May we have your attention please, Less than 24 hours in hand to File Three Tax Form that are due TODAY April 30th 2019. Being an IRS Authorized E-file Service Provider it becomes our responsibility to remind Every Tax Payer about upcoming tax Deadlines for the month and where to get it done with ease.
Taxes that are Due Today: Continue reading Less Than 24 hours remaining to File These Tax Forms!