Category Archives: Federal Excise Tax Electronic Filing

Electronic Filing or E-filing, Federal Excise Tax Electronic Filing, Tax Excise Users Alert

Dive In to Get a Brief Understanding of Indoor Tanning Tax

Is it that you are only paying taxes without understanding what actually you are paying for? Tanning tax in form 720 is one of the tax returns that not many taxpayers tend to understand. However, reading this blog can help them gain some information on indoor tanning tax available in form 720 returns.

Understanding Indoor Tanning Tax:

Indoor tanning tax is a kind of excise tax imposed on individuals who use the service to reduce skin tanning. Similar to communication and air transportation excise taxes, indoor tanning tax in form 720 is ‘collected excise tax’ and is acquired at the time of making payment. Moreover, the person who receives the payment is known as the ‘collector’. For a better understanding, this tax is employed on electronic products having ultraviolet lamps and designed to safeguard individuals from the irradiation caused due to ultraviolet rays. Therefore, the amount paid for purchasing creams, lotions, etc. to reduce skin tanning is not subjected to indoor tanning tax.

As mentioned above, indoor tanning tax is a kind of excise tax collected by individuals offering the service. This tax not applicable on undesignated payment cards or gift cards usually exchanged for goods and services but not necessarily indoor tanning services. Moreover, in case the provider does not receive the payment for offering the services, then he or she is liable for paying the tax return.

Knowing the Filing Requirements:

This excise tax is a part of form 720, which is paid quarterly and the due date is 30 days after the end of every quarter. This tax should be reported on Part II of the excise tax form on IRS. No.140.

Find the clear dates to File and pay Your Tanning taxes by Form 720 :

April 30- To report tax collected in Jan., Feb. and March
July 31- To report tax collected in April, May and June
October 31-To report tax collected in July, Aug. and Sept.
January 31- To report tax collected in Oct., Nov. and Dec. of the prior year

Exemptions for Indoor Tanning Tax Services:

  • Photo-therapy Service:

Licensed medical professionals offering photo-therapy services are not liable to pay indoor tanning tax. Moreover, the services should be performed by a licensed medical practitioner. Therefore, if a patient is advised photo-therapy services but, if he or she takes the treatment from a private salon, then the person is liable to tax payment. This service is useful for treating patients having problems such as acme, sleeping disorder, neonatal jaundice, etc.

  • Qualified Physical Fitness Facility:

This is a facility where a company provides equipment to its members to help them exercise and maintain physical fitness. However, businesses should keep in mind that indoor tanning services are not a part of their business and if so they would be liable for indoor tanning tax.  It is not only important to pay taxes but understanding them is important too.

Now, you can e-file excise tax from the comfort and convenience of your house. Log on Taxexcise.com today! Whether you have a suggestion for us or need an answer for your query. Call us at 1-866-245-3918 to help us serve you better.

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Prepare Yourself for Tax Filing with Important and Useful Tips

With the tax filing season approaching soon, it is important to file your tax returns accurately and properly. The tips discussed below can help you prepare your tax return smoothly. Read on for an improved tax filing experience.

·         Keep all Your Records Handy:

Finding the documents when filing your tax return can add to your time and efforts. Therefore, whether filing for excise tax or claiming for a refund, ensure having all the documents you know will be required during tax filing. Moreover, ensure keeping the documents at a place where it is easy to locate.

·         Find Answers to Your Questions:

If there are several questions troubling your mind, then make sure to get answers to them. Tax e-file providers like Taxexcise.com provide assistance to tax payers and help them with easy tax filing and refund.

·         Know the Various Filing Options:

There are various ways how tax payers can file their tax return such as online, on paper, or hire a professional. However, filing on paper requires time without having any room for errors whereas, hiring a professional would add to your expenses. Therefore, to save time and money it is good to file your taxes online with an IRS certified service provider.

·         Provide Accurate Information:

Visiting the IRS website can help you learn the instructions for filing your tax return. It is a good idea to read the instructions before filing the form, as this can be helpful in easy and accurate filing of the tax form. Moreover, not filing the tax form accurately can bring in complications.

·         Choose a Certified E-file Provider:

Choosing a BBB accredited and IRS certified e-file service provider like Taxexcise.com to file your excise taxes including HVUT, helps you get done with it quickly with features like user-friendly GUIs and inbuilt calculators.

Preparing for tax return before filing makes the process smooth and systematic. However, it is advisable to file your tax return well in advance and avoid doing at the last-minute. Visit us online or call us @ 1-866-245-3918 for all kinds of e filling assistance.

 

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Tips for Improving Fuel Mileage in Your Diesel Truck

How often have you tried to improve the fuel mileage of your diesel truck? As a truck driver, this would be one of the primary concerns but not always if you follow the care and maintenance tips regularly.  Moreover, as the fuel costs are frequently on a rise, it is extremely important to get good mileage from your truck. Taking the right precautions at the right time is the right way to save money and keep your truck healthy. Here’s a run-down of stress-free ways that can help your truck move efficiently.

  •  Regular Care and Maintenance:

Would you skip your meals for a day if you have work or wait for the weekend to do the everyday chores? Of course not, then why take chances when it comes to the care and maintenance of your truck. Regular maintenance helps in the smooth running of the vehicle and uses less fuel too. Doing few simple tasks can help you avoid the bad after-effects such as check if the tires are properly inflated, change the oil regularly, regular engine maintenance, clean the air filter, and keep the fuel injectors clean.

  • Accelerate in a Slower Pace:

Driving at a slower pace is not something that many truck drivers would love especially if it is a powerful diesel truck. But doing so will help them save fuel and add to the vehicle’s efficiency. According to experts, “it takes 4 times more power to push your truck against air resistance at 70mph as it does when you’re driving 35mph”.

  • Lighten the Vehicle:

Keeping the vehicle excessively loaded like carrying the unwanted metal boxes burns more fuel. Therefore, it is advisable to free the vehicle from excess load and lighten the truck to save fuel and money. Taking few simple steps can increase the fuel mileage of your diesel truck.

Hope the aforementioned tips help you increase the fuel mileage of your truck and its efficiency too. Similarly, save your time and efforts by filling your returns at Tax2290.com, the e-filling expert. We are the one stop solution to all your e-filing needs. Get your questions answered at 1-866-245-3918 or write to support@taxexcise.com. Have a happy trucking!

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IRS Form 720 Deadline for the Fourth Quarter Of 2012

Fourth Quarter Deadline

Forgot about your fourth due for federal excise taxes? We (taxexcise.com) are here to remind you to e-file your IRS Form 720 for the fourth quarter of the year 2012. The deadline ends on January 31st 2013. This Federal Excise Tax Return is for the fourth quarter, i.e. for October, November and December of 2012. Continue reading IRS Form 720 Deadline for the Fourth Quarter Of 2012 →

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IRS Provides Tax Relief to Victims of Hurricane Sandy; Return Filing and Tax Payment Deadline Extended to Feb. 1, 2013

In the aftermath of Hurricane Sandy, the Internal Revenue Service announced additional tax relief to affected individuals and businesses.

Following recent disaster declarations for individual assistance issued by the Federal Emergency Management Agency, the IRS announced today that affected taxpayers in Connecticut, New Jersey and New York will receive tax relief. Other locations may be added in coming days based on additional damage assessments by FEMA.The tax relief postpones various tax filing and payment deadlines that occurred starting in late October.  As a result, affected individuals and businesses will have until Feb. 1, 2013 to file these returns and pay any taxes due. This includes the fourth quarter individual estimated tax payment, normally due Jan. 15, 2013. It also includes payroll and excise tax returns and accompanying payments for the third and fourth quarters, normally due on Oct. 31, 2012 and Jan. 31, 2013 respectively. It also applies to tax-exempt organizations required to file Form 990 series returns with an original or extended deadline falling during this period.

The IRS will abate any interest, late-payment or late-filing penalty that would otherwise apply. The IRS automatically provides this relief to any taxpayer located in the disaster area. Taxpayers need not contact the IRS to get this relief. Beyond the relief provided by law to taxpayers in the FEMA-designated counties, the IRS will work with any taxpayer who resides outside the disaster area but whose books, records or tax professional are located in the areas affected by Hurricane Sandy. All workers assisting the relief activities in the covered disaster areas who are affiliated with a recognized government or philanthropic organization are eligible for relief.  Taxpayers who live outside of the impacted area and think they may qualify for this relief need to contact the IRS at 866-562-5227.

In addition, the IRS is waiving failure-to-deposit penalties for federal payroll and excise tax deposits normally due on or after the disaster area start date and before Nov. 26, if the deposits are made by Nov. 26, 2012. Details on available relief can be found on the disaster relief page on IRS.gov.

The tax relief is part of a coordinated federal response to the damage caused by the hurricane and is based on local damage assessments by FEMA. For information on disaster recovery, individuals should visit disasterassistance.gov.

The IRS also assures taxpayers, businesses and tax preparers that IRS is working aggressively to monitor the situation and provide additional relief as needed.

So far, IRS filing and payment relief applies to the following localities:

In Connecticut (starting Oct. 27): Fairfield, Middlesex, New Haven, and New London Counties and the Mashantucket Pequot Tribal Nation and Mohegan Tribal Nation located within New London County;

In New Jersey (starting Oct. 26): Atlantic, Bergen, Cape May, Essex, Hudson, Middlesex, Monmouth, Ocean, Somerset and Union;

In New York (starting Oct. 27): Bronx, Kings, Nassau, New York, Queens, Richmond, Rockland, Suffolk and Westchester.

TaxExcise.com helps taxpayers, businesses and tax preparers file their Excise Tax Returns with the IRS electronically and have an acknowledgment received online within minutes. Tax Excise extends its support providing mobile application m.Tax2290.com to e-file Forms.

Avoid Travelling as much as possible at least when not needed, make use of E-file through TaxExcise.com and Stay SAFE and COVERED!!

Reach us @ 1-866-245-3918 or write to us at support@taxexcise.com, for any required assistance.