Welcome to our blog, filers. Recently, IRS was up with its routine shut down for MEF (Modernized E-file system) for maintenance. MEF is the online system through, which TaxExcise.com submits our IRS tax form return.
However, the update here is, IRS have reopened tax filing gateways and we welcome taxpayers to come and efile your tax return with TaxExcise. If you had filed your tax return during the shutdown, you are likely to receive your acknowledgement receipt by today.
If you are an excise tax filer, this reminder holds importance for you. Q4 due date is falling by this month end (31st January) and this stands as the reminder for excise tax filers to file and pay their dues through form 720. If you are late even by a day, you are liable to pay penalties for the same. To avoid penalties and interest, file and report your tax before the due date through TaxExcise.com.
Excise Tax is applicable for business or providing sales of goods and services of any of the listed products in form 720. The tax is included in the goods purchased by the customers like gasoline for your car. When you pump in fuel in your car or buy flight tickets, you are paying for the fuel, which includes the taxes as well.
However, there is another update for heavy vehicle used tax filers. If you have taken your vehicle out in the month of December 2014, you are liable to file form 2290 if your vehicle weighs more than 55,000 pounds. The weight of the taxable vehicle is calculated on the following basis:
The taxable gross weight of a vehicle (other than a bus) is the total of:
- The actual unloaded weight of the vehicle fully equipped for service,
- The actual unloaded weight of any trailers or semitrailers fully equipped for service customarily used in combination with the vehicle, and
- The weight of the maximum load customarily carried on the vehicle and on any trailers or semitrailers customarily used in combination with the vehicle.
Find the below table for better understanding of Gross Taxable Weight:
Gross Taxable Weight | Heavy Vehicle Use Tax Rates |
Below 55,000 lbs | No filing HVUT return |
55,000-75,000 lbs | $100 plus $22 per 1,000 pounds over 55,000 lbs |
So what is holding you behind? Come to TaxExcise.com and efile your tax in minutes, and receive your acknowledgement receipt. And if you are wondering about the assistance, we have handpicked Tax Experts at our end to serve you with your requirement any moment of the day. You can reach our experts through Chat, Email and Phone call. Simply call us @ 1-866-245-3918 or email at support@taxexcise.com. We are here to serve you the best, the authentic.