‘Prevention is better than cure’ is one of the oldest phrases that we hear from time to time. In business when it comes to financial matters, it is important to keep records of all transactions as a precaution; be it small or a big transaction. The sole and the most important reason to perform business activities is to earn profit; increase the zeros in our bank accounts. At the same time, we want to make sure that no mistakes or problems occur while earning those hard earned dollars for IRS or anybody else to snatch it away from us. Hence we need a good record keeping system that can actually help you save money. Keeping records to maintain the progress of our business is just as important. As per the IRS, Keep records of all your Excise taxes for at least 3 years after the date the tax is due or paid, whichever is later. They must be available at all times for inspection by the IRS. When it comes to tax 2290, it is important to maintain records for the following reasons: Continue reading Why and How to Keep Records of Your Tax Documents
Many businesses offering indoor tanning services are required to collect a 10 percent excise tax on the indoor tanning services they provide. The provider must pay the excise tax to the government, quarterly, along with IRS Form 720, Quarterly Federal Excise Tax Return. The following information is designed to help indoor tanning services providers understand how to collect, file and pay the tax.
On July 1, 2010, the U.S. government instituted a new excise tax that applied only to establishments that provide indoor tanning. This additional charge, called the Indoor Tanning Services Excise Tax, is a part of the Affordable Care Act, especially to discourage the practice of indoor tanning, which has been shown to pose substantial health risks. Continue reading NOW E-FILE AND PAY INDOOR TANNING SERVICES EXCISE TAX WITH ANDROID APP
So filers, how are you doing today. Here’s the quick reminder about the due date for excise tax that falls on 31st October 2014. The third quarter due date for this Quarterly Federal Excise Tax Return is round the corner. Ensure you file your return on or before the due date or penalties would tag along. Continue reading The Best Payment Methods Used While Efiling Tax Returns Online
So filers, how are you doing? Last few weeks we were talking about form 2290 as the tax season had arrived in our calendar. However, the tax season is over and here we are in form. And that reminds us to talk about form 720, which are levied on specific goods and paid by consumers when the products are purchased. Form 720 is also known as a Quarterly Federal Excise Tax Return. Continue reading Excise Tax Form 720- Introduction
This month seems to be easy going with no more due dates and submissions. Liberal air is flowing around. Taking all the advantage, we decided to have a warm up session first about our form 720 and how well TaxExcise.com can fit in. anyways, the due date is still far from your reach, it is good to maintain good terms with your documents. Continue reading File Form 720- The Quarterly Federal Excise Tax Return Online