Are you unsure if you need to file Form 720 and pay the excise tax? We’ve come to inform you just that. If you own a company and sell goods and services that are listed on Form 720, The fee, on the other hand, is found in the items that consumers buy, such as fuel for your vehicle or plane tickets. Businesses that deal with these goods and services are responsible for paying the bill. Excise tax is paid on a quarterly basis, and the first installment is due by the end of this month, so you must pay taxes on or before April 30, 2021. This is a reminder to excise taxpayers to log in and efile form 720 (Excise Tax) and report their returns electronically on www.TaxExcise.com as quickly as possible.
Continue reading TO AVOID PENALTIES, THE DEADLINE REMINDER ON TAXEXCISE FOR FILING YOUR FEDERAL EXCISE TAX RETURN ELECTRONICALLY FOR THE FIRST QUARTER 2021 IS APRIL 30, 2021.Category Archives: E-file Indoor Tanning Service
With less than a month before the deadline, E-file Forms 720 and 2290 before April 30, 2021.
As the FIRST IRS AUTHORIZED & ONLY DECADE OLD E-file Service Provider for E-filing, it is our duty to alert all excise taxpayers of the upcoming deadline. Form 720, Quarterly Federal Excise Tax Reporting, to be sent by the end of the calendar quarter. Form 720 is filed quarterly to record taxes levied on the manufacturing, distribution, or use of a certain class of goods and materials, with the first quarter deadline falling on April 30th, 2021. We’re halfway through April, which means we’re approaching the Due Date for the first quarter of 2021. Walking to the local IRS office or mailing the paper-filled Form 720 in this short time period is the slowest way of filing form 720 and you can foresee a delay in getting the filings acknowledged and if the date is skipped or filed late, you will have to incur penalties.
Keep in mind that even though you have no sales to record, you must also file a Form 720 by choosing the alternative for a Zero Return (Zero Tax Liability). This is to notify the IRS that you have no Excise taxes to declare for the year.
Continue reading With less than a month before the deadline, E-file Forms 720 and 2290 before April 30, 2021.An overview of excise tax by the Internal Revenue Service
In general, an excise tax is a tax is imposed on the sale of specific goods or services, or on certain uses. Federal excise tax is usually imposed on the sale of things like fuel, airline tickets, heavy trucks and highway tractors, indoor tanning, tires, tobacco and other goods and services.
Businesses that are subject to excise tax generally must file a Form 720, Quarterly Federal Excise Tax Return to report the tax to the IRS. Excise taxes are imposed on a wide variety of goods, services and activities. The tax may be imposed at the time of
- Import
- Sale by the manufacturer
- Sale by the retailer
- Use by the manufacturer or consumer
Form 720 is due TODAY for second quarter of 2020 and PCORI Fee for 2019 Self-Insured Health Plans
TaxExcise.com the only E-file service provider that helps to report all the federal excise tax forms and all schedules of Form 8849 refund claims would like to remind taxpayers that the excise tax form 720 for the second quarter of 2020 ending in June 30th and PCORI Fee, is DUE TODAY.
PCORI FEE:
Patient-Centered Outcomes Research Institute (PCORI) fees are also due TODAY. 2019 PCORI must be reported on the second quarter of 2020. While filing your return using www.TaxExcise.com, please select the year Jan – Dec 2020 and quarter ending in June 2020, and have your 2019 PCORI filed. The PCORI annual filing and fees was originally set to expire in 2019, but they were reinstated for an additional 10 years, through 2029.
Form 720 and Form 2290 tax requirements for small businesses:
Continue reading Form 720 is due TODAY for second quarter of 2020 and PCORI Fee for 2019 Self-Insured Health PlansJust couple of days left for 2nd Quarter Form 720 Deadline
The Quarterly Federal Excise Tax Form 720 deadlines for the 2nd Quarter of 2020 is July 31, 2020 and just couple of more days to go. All the businesses that has collected excise taxes through the services offered or goods sold has to be reported and paid in Form 720 by July 31. Electronic filing can keep your tax deadline straight and on-time. You can do it by yourself in 3 simple steps at http://TaxExcise.com.
Continue reading Just couple of days left for 2nd Quarter Form 720 Deadline