Hello taxpayers! Today, an important deadline approaches for many business owners, product/service dealers, and truckers. If your business, product, or service comes under the quarterly federal excise taxes, you must report your tax returns to the IRS using Form 720 every quarter. Also, if you are eligible for the yearly PCORI fees, you must pay them through the IRS Form 720 during the second quarter of the tax year. This day, July 31, 2024, marks the deadline to report Form 720 for the second quarter of this tax year.

Similarly, if you are preparing IFTA taxes, now is the time to act. The clock is ticking, and missing the deadline can result in severe consequences like penalties and other troubles. TaxExcise.com offers a seamless and efficient way to handle last-minute hassles and tax filing perfectly. E-filing Form 720 online and preparing IFTA reports online at TaxExcise.com ensure your tax compliance and help you stay on track.

Why Form 720 Matters?

Quarterly Federal Excise Tax Form 720 is used to report federal excise taxes on certain businesses, services, products, and goods. These taxes fund various government programs and are essential for businesses involved in sectors such as fuel, air transportation, and health services. For the second quarter of 2024, today marks the final day to report and pay Form 720 returns.

Annual PCORI Fees.

The Patient-Centered Outcomes Research Institute (PCORI) fee is an annual charge assessed on issuers of specified health insurance policies and plan sponsors of applicable self-insured health plans. This fee helps fund research that provides patients, clinicians, purchasers, and policymakers with information to make better-informed healthcare choices. Today is also the deadline to pay the PCORI fee for the year using the IRS Form 720.

E-file Form 720 smoothly in TaxExcise.com.

TaxExcise.com is an IRS-approved modernized Form 720 online e-filing platform. Our platform simplifies the processing of preparing and reporting Form 720 to the IRS. With our user-friendly interface and step-by-step guidance, you can complete your Form 720 E-file within a few minutes and get the acceptance receipt to your registered email instantly. All you need is a smart device like a PC, laptop, or smartphone with a strong internet connection; you can E-file Form 720 easily from the comfort of your home or office. By E-filing 720 within the end of this day, you avoid potential penalties and interest that come with late filing. TaxExcise.com ensures that your Form 720 returns are processed promptly, giving you peace of mind.

IFTA Reporting

Second quarter deadline for IFTA Reports.

The International Fuel Tax Agreement (IFTA) simplifies fuel tax reporting for motor carriers operating in multiple jurisdictions. Carriers must file quarterly fuel use tax returns, which calculate the net tax or refund due and ensure that taxes are paid to the appropriate jurisdictions. Today is the deadline to prepare your IFTA tax reports for the second quarter. Failing to submit these reports on time can result in penalties and even the suspension of your IFTA license.

Preparing IFTA reports Online.

Please remember that you cannot E-file IFTA reports online. You can only paper file them. To make things simpler and more effective, TaxExcise.com allows you to prepare your IFTA reports online and download and print them to file in your base jurisdiction. Preparing your IFTA reports online with TaxExcise.com is straightforward. Our platform provides all the necessary tools to input your mileage and fuel data accurately. Our system then calculates your tax liability, making the process efficient and error-free.

For queries and support regarding your tax e-filing, don’t hesitate to contact our customer help desk at 1-866-245-3918 (toll-free) or write to us at support@taxexcise.com; we will reply promptly.