Category Archives: IRS Tax Tips and Alerts

Efile Extension tax, Electronic Filing or E-filing, IRS Tax Tips and Alerts, Tax 2290 Users Alert, Tax Excise Users Alert

IRS Extend Filing And Payment Deadline – Tax Day For Individuals Extended To May 17

The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021. The IRS will be providing formal guidance in the coming days.

“This continues to be a tough time for many people, and the IRS wants to continue to do everything possible to help taxpayers navigate the unusual circumstances related to the pandemic, while also working on important tax administration responsibilities,” said IRS Commissioner Chuck Rettig. “Even with the new deadline, we urge taxpayers to consider filing as soon as possible, especially those who are owed refunds. Filing electronically with direct deposit is the quickest way to get refunds, and it can help some taxpayers more quickly receive any remaining stimulus payments they may be entitled to.”

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Today is the Deadline to file Form 720 excise tax return for the third calendar quarter of 2020 (July, August, and September)

We have an important message about your Form 720 tax returns, today is the deadline to file Form 720 excise tax return for the third calendar quarter of 2020 (July, August, and September). However it is only applicable for businesses that deals in goods and services subject to excise tax. If you were responsible for collecting excise taxes during this quarter and haven’t filed your tax return yet, you must prepare and file it by today, November 2nd, 2020.

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Today August 31 and HVUT Form 22290 Due Date

The highway use tax (HVUT Form 2290) applies to highway motor vehicles with a taxable gross weight of 55,000 pounds or more. 2290 tax returns must be filed and tax payments must be paid by August 31 for the heavy motor vehicles used on the road during July. The deadline generally applies to Form 2290 and the accompanying tax payment for the tax year that begins July 1, 2020, and ends June 30, 2021. For motor vehicles first used after July, the deadline is the last day of the month following the month of first use.

August 31 Due Date for Form 2290

Save Time Effort and Money

Today the d-day for 2290 truck tax reporting and electronic filing is the best way to have this reported and paid with the IRS. TaxExcise.com a product of ThinkTrade Inc. is in full swing supporting the truckers to have this 2290 taxes reported on time. The Truckers who is missing out this August 31, 2020 deadline would end up paying more as late filing charges, penalty and interest on the tax amount. Why pay more? act fast and report your 2290 truck tax returns online. It is easy, fast and safe to do it at TaxExcise.com. Top Rated and Market Leader for all Federal Excise Taxes.

Form 2290 eFiling Support

TaxExcise.com the most experienced and the first website to get authorized by the IRS since 2007 is working in full swing to help truckers and owner operators to have this 2290 Truck Tax returns reported and paid to the IRS on-time. The IRS processes and issues you the Watermarked Schedule 1 Proof of Payment with a date on it would act as an acknowledgement to have your vehicles renewed or registered with the federal agencies.

Talk to us at 866 – 245 – 3918, we have multiple lines to accommodate any number of calls to help you with your 2290 efiling. You can also connect with us through a LIVE Chat support from our website. Writing an email can help us to keep track of your support ticket and help you instantly.

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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:

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10-Year Extension of Patient-Centered Outcomes Research Institute (PCORI) Fee, due by July 31, 2020

Did you know, The first PCORI fee was assessed for plan years ending after Sept. 30, 2012, and the fee for the first plan year was $1 per plan enrolee, it increased to $2 per enrolee in the second year and was then indexed in subsequent years based on the increase of the projected per capita amount of National Health Expenditures.

We have certainly received an influx of inquiries regarding the IRS’ plans for PCORI, and just as we thought, the IRS has EXTENDED the Patient-Centered Outcomes Research Institute Fee (PCORI) for an additional 10 YEARS. As a result of this extension, PCORI fee will continue to be imposed through 2029.

In the Sections 4375 and 4376, the IRS set the amount used to calculate the PCORI fee at $2.54 per person covered by plan years ending Oct. 1, 2019, through Sept. 30, 2020. The applicable rate for policy and plan years ending on or after October 1, 2020, will be included in future revisions.

The next annual fee that sponsors of self-insured health plans must pay to fund the federal Patient-Centered Outcomes Research Institute (PCORI) is due July 31, 2020, and should be reported on the second quarter filing of 2020.

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