Form 720 is a quarterly excise tax return that some; businesses must file with the Internal Revenue Service. According to the IRS, “Excise taxes are taxes paid when purchases are made on a specific goods, such as gasoline. Excise taxes are often included in the price of the product. There are also excise taxes on activities, such as on wagering or on highway usage by trucks.” If you accrue excise taxes in the course of doing business, you should know the rules on filing 720 taxes.
Who Must File Continue reading Form 720, Quarterly Excise Tax Return for 4th Quarter of 2016 is due NOW!
The deadline to file your 2016’s 4th Quarter IFTA (International Fuel Tax Agreement) Return is January 31, 2017. A
Good News for all the Excise Tax E-filers! IRS E-file Servers are now Operational and ready to accept and process business Tax returns. The IRS E-file servers were shutdown for year end maintenance like every year by Christmas Eve of 2016. They were expected to be up and running by January 6th, 2017 but there was a slight delay from the IRS end in resuming operations.
www.Taxexcise.com
2016 is almost gone. Let the dead past bury its own dead. 2017 is about to take possession of the clock of time. All hail the duties and possibilities of the coming twelve months. Hope you all had a great Christmas & sure you all have plans in place for New Year. Folks in Trucking Industry mostly don’t get to celebrate Christmas or New Year with their loved ones, which is a Sad Fact.