Category Archives: IRS Tax Tips and Alerts

IRS Tax Extension Form 7004 and Form 4868 are Due this April 15

That time of the year where every one of us has a tax deadline to complete reporting the tax returns. No matter if it is a Personal Tax reporting or Business Tax reporting April 15 is the deadline.  Filing an extension will allow you to push your deadline back six months from April 15 to October 15, 2019. It’s important to keep in mind an extension only pushes back the due date for the filing of your tax documents. It does not give you extra time to pay on any taxes you may owe.

Get Extra Time Continue reading IRS Tax Extension Form 7004 and Form 4868 are Due this April 15

One Last Week Left to E-file your Extension Form 7004!

Time just flies away! It just feels like yesterday when we all welcomed the year 2019. But it’s already 70 days old. Today is the 71st day of the year 2019. 2019 is not only 70 days old but your Business Income taxes are due this week. This is also the 11th week of the Year 2019 and today is the 11th Tuesday of 2019. Exactly in four days that is the 11th Friday of 2019 you have to file & pay your Business Income Tax. If not you are not really going to enjoy the rest of the year. Continue reading One Last Week Left to E-file your Extension Form 7004!

E-file for an Extension on Your Business Income Tax Today!

“Make sure you pay your taxes; otherwise you can get in a lot of trouble”– Richard M. Nixon

The Trouble Richard was quoting is right around the corner. YES! You read that right, March 15th, is your deadline to file and pay your Business Income taxes for 2018. Not everyone is prepared to file their Business Income Taxes, due to lack of paper work or lack of time.

Though March 15th 2019 is the official deadline to file your Business Income taxes, it is not the end of the road for you. You can legally, postpone your Official Tax Due date to September by simply E-filing Federal Extension Tax Form 7004.  Form 7004– Application for Automatic Extension of Time to File Federal Business Income Tax Return. Continue reading E-file for an Extension on Your Business Income Tax Today!

Avoid IRS Penalties, E-File Tax Returns Before the Deadline!

The most common IRS penalties are for not filing on time and not paying on time. There are almost 150 penalties in the Internal Revenue Code, but these two very common penalties make up 74% of all. 60% of all is Failure to pay penalty, imposed if you don’t pay taxes on time. And 14% is Failure to file penalty, imposed if you don’t file a return on time. That means majority of the total tax payers either miss to file returns on time or miss to pay tax due on time.

A failure to file or failure to pay penalties are charged on returns filed after the due date or taxes paid after the due date. Although one can request for the penalty abatement but that could take up to three to nine months’ time and loads of hassles before a successful relief.

You may find it easiest to hire an accountant for a timely filings and payments to save you from all but generally accountants charge a very high fees to get your job done. Taxpayers can potentially save their time and these additional money by shifting their tax return preparation and filings to www.TaxExcise.com. The inevitable rush to file returns by the tax deadlines, the human mistakes due to the rush and penalties due to missing deadlines; can all be avoided if you e-file your tax returns with TaxExcise.com.

www.TaxExcise.com is the first and decade old IRS e-file service provider that can e-file any excise tax returns mentioned below:

HVUT Form 2290:

  • Due by August 31 for yearly renewal OR following month end for new vehicles.
  • To obtain IRS waterproof Schedule-1 copy with unlimited vehicles within minutes.
  • Gross Weight, VIN correction and Mileage limit Amendments.

Quarterly Excise Tax Form 720:

  • Quarterly taxes due on JAN 31, APR 30, JUL 31, and OCT 31 in a calendar year.
  • Including the PCORI taxes due in Q2 of each year

 All Form 8849 Refund Claims : (Schedules 1, 2, 3, 5, 6 and 8)

 IFTA Tax returns online preparation:

  • All US states and Canadian Provinces.
  • Quarterly taxes due on JAN 31, APR 30, JUL 31, and OCT 31 in a calendar year.

Excise Tax Form 720 and IFTA for 4th Quarter of 2018 & Form 2290 for Vehicles 1st used in December 2018, were due on January 31. If you missed the deadline, give us a try!

For any questions & help feel free to reach us anytime @ 1-866-245-3918 or write to us in support@taxexcise.com or Ping us using the LIVE CHAT Option on the website.

PTIN Renewals are currently being processed by the IRS. Renew Soon!

The Preparer Tax Identification Number (PTIN) is an identification number that all paid tax return preparers must use on U.S. federal tax returns or claims for refund submitted to the Internal Revenue Service (IRS).

Generally all PTINs expire on December 31 of each year. PTIN renewal open season begins approximately October 16 each year for the following year. You can renew online by logging into your PTIN account or by submitting a paper Form W-12 with the “Renewal” box checked and Send Form W-12 and supporting documentation to:

IRS Tax Pro PTIN Processing Centre
1605 George Dieter PMB 678
El Paso TX 79936

However online renewal takes about 15 minutes, but paper renewals take 4-6 weeks to process.

The Internal Revenue Service has currently begun processing renewals for Preparer tax identification number (PTIN). The Federal law states that anyone who prepares a federal tax return for a fee must possess an active PTIN.  Failing to renew your PTIN might end up being prone to facing high penalties.  Generally PTIN renewal services are offered at no cost.

For Preparers who come across the term PTIN for the First Time:

Did you just turned out to be an accountant or a tax Preparer, are you wondering what are the basic requirements to obtain a PTIN? Here’s the answer. As per the Federal law every individual who, for compensation, prepares or assists in the preparation of a tax return or claim for refund must have his or her own PTIN and each tax return preparer may only obtain one PTIN.

Should you have questions regarding the PTIN renewal process or If, you encounter any issues you can contact the PTIN Helpline at 877-613-7846.