Federal Excise Tax Electronic Filing, Form 720 Quarterly Excise Tax Efile, IRS Tax Tips and Alerts

Excise Tax e-File & Compliance (ETEC) Programs – Form 720, 2290 and 8849

The Excise Tax e-File project was initiated to satisfy the IRS’ requirement to provide electronic filing of Form 2290, Heavy Highway Vehicle Use Tax Return, as directed in the American Jobs Creation Act (October 2004). Excise Tax e-File & Compliance (ETEC) Programs (Form 720, 2290 and 8849) has joined the ever-growing-number of tax forms and schedules that can be electronically filed, providing taxpayers the speed and reliability that millions of taxpayers and business owners already enjoy.

Form 720, Quarterly Federal Excise Tax Return is also available for optional electronic filing.  Simply make your selection on the 720 e-file partner’s page and join millions of taxpayers enjoying the convenience and ease of on-line filing, immediate acknowledgment of receipt and faster service.

Form 2290, Heavy Highway Vehicle Use Tax Return is available for electronic filing. The electronic version of Form 2290 will improve excise tax processing, expedite refunds, save personal resources (e.g., time & postage) and reduce preparation and processing errors.  Schedule 1 will be available almost immediately (once your return is accepted by the IRS) through your software developer/transmitter – no more waiting for it to come in the mail!

Taxpayers filing Form 2290 reporting 25 or more vehicles for any taxable period are required by statute to electronically file their Form 2290 tax return through an IRS-approved software provider.

Form 8849, Claim for Refund of Excise Taxes (Schedules 1,2, 3, 5, 6 and8) are now available for e-file. Electronically submitted Schedules 2, 3 and 8 refund claims will be processed within 20 days of acceptance by the IRS, versus the usual 45 day processing time on all other 8849 schedules.

FILE YOUR TAXES NOW!
To file your excise forms electronically you will need to select an approved software provider for the tax forms you want to file.   Form 720 provider information can be found on the 720 e-file partner’s page.  Form 2290 provider information can be found on the 2290 e-file partner’s page. Form 8849 provider information can be found on the 8849 e-file partner’s page.

QUESTIONS? Call  Excisetax.com at 866-245-3918 or simply email it to support@taxexcise.com

Electronic filing excise taxes, Form 2290 Efile, Tax 2290 Users Alert, Truckers Alerts and Needs

ExtensionTax.com: E-file an Extension Form 4868 and report your personal income taxes late!!!

Personal Income Tax Extension Form 4868 is due on April 18th, 2011.

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Federal Excise Tax Electronic Filing, Form 720 Quarterly Excise Tax Efile, Tax 2290 Users Alert

Form 8849, Schedule-3 is up for Efiling…

The IRS is offering electronic filing of Form 8849 will satisfy the Congressional mandate to provide filers an electronic option for filing Form 8849, Schedule 3. Schedules 1, 2, 5, 6 and 8, are also available for efiling through www.TaxExcise.com.

How will Form 8849 e-file improve results? Refunds for an electronically filed Form 8849, with Schedule 2, 3 or 8,  will be processed within 20 days of acceptance by the IRS. All other Form 8849 schedules are processed within 45 days of acceptance. Much faster than Paper filing method

Continue reading Form 8849, Schedule-3 is up for Efiling… →

Due Dates, Electronic Filing or E-filing, Federal Excise Tax Electronic Filing, Form 2290 Amendment, Form 2290 Efile

Tax2290 Reminder: HVUT is due March 31, if your vehicle first used in Feb 2011.

Heavy Vehicle Use Tax (IRS Form 2290) is due by March 31st, 2011. if your vehicle first used in February, 2011.

Have you used your vehicle first time in March 2011 since July 1st, 2010?

If YES, then you need to file IRS Form 2290 by end of this month and get your Schedule-1 instantly only at www.Tax2290.com

Is your gross weight Increased? Is your Vehicle Mileage Limit exceeded since the recent tax return?

If YES, then you now need to file an IRS Form 2290 Amendment to get the reviced Schedule-1 in minutes. Also you can claim your refund from IRS by filing Form 8849 Schedule-6 at www.TaxExcise.com

Need to correct your VIN#? Is your VIN number mistyped while filing with IRS?

If Yes, E-file VIN correction with IRS in just few clicks at www.TaxExcise.com and receive the corrected Schedule-1copy in minutes – just like your original Form 2290 filing.

Have you down-sized the number of Vehicles? Is your Vehicle reported Low Mileage from the last filed return?

If Yes, then IRS owe!!! Yes you need to claim a credit back on a Sold / Destroyed / Stolen Vehicle or Low Mileage Vehicle or any other claims at www.TaxExcise.com and get it accepted instantly.

You can do all at one place www.TaxExcise.com. Try now!!! We are BBB Accredited with A+ rating.

•Get Instant TEXT alert on status of your return in minutes.
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Avoid getting penalized by the IRS by simply filing these easy returns at www.Tax2290.com or www.TaxExcise.com. You can get Schedule-1 copy instantly right in your email. www.Tax2290.com has come up with  ultimate features just for you.  For further queries email us at support@taxexcise.com or call our support center at 1-866-245-3918

Tax Excise Users Alert

One Time reporting for Gas guzzler tax…

The Gas Guzzler Tax is a Federal excise tax applied to the domestic sale of new vehicles that don’t meet certain fuel economy standards. It was enacted as part of the Energy Tax Act of 1978, reaching current levels by 1988. On its surface, the Tax is simple. Behind that simplicity, though, lies a maze of formulas and numbers, some of which are of particular interest to SUV buyers.

The Gas Guzzler Tax is based on combined fuel economy, which is based on a 55%/45% highway/city fuel economy estimate from the Environmental Protection Agency test.

How Much is the Gas Guzzler Tax?

Vehicles that get at least 22.5 mpg (combined) don’t have to pay the Gas Guzzler Tax. The Tax rate goes from $1,000 for vehicles that get at least 21.5 mpg (combined), but less than 22.5 mpg (combined) all the way up to $7,700 for vehicles that get less than 12.5 mpg (combined).

What’s New

The definition of automobile for purposes of the gas guzzler tax has been revised. Limousines with a gross unloaded vehicle weight of greater than 6,000 pounds are not subject to the gas guzzler tax, effective for sales, uses, or leases after September 30, 2005.

Purpose of Form

Use Form 6197 to figure the gas guzzler tax. The gas guzzler tax is imposed on the sale, use, or lease by the manufacturer or importer of an automobile of a model type that does not meet certain standards for fuel economy. Automobiles imported for business or personal use are subject to the tax.

The tax liability is figured each quarter and reported on Form 720. See the Instructions for Form 720 for information on how to file and make deposits.

If you import a gas guzzling automobile, you may be eligible to make a one-time filing for which no employer identification number is needed and no deposit is required.

One-Time Filing
If you import a gas guzzling automobile, you may be eligible to make a one-time filing of Form 720 and Form 6197 if you meet both of the following conditions:
•    You do not import gas guzzling automobiles in the course of your trade or business and
•    You are not required to file Form 720 reporting excise taxes for the calendar quarter, except for a one-time filing.

Using the facts in the Example above, the manufacturer would make two entries, one for Model X and one for Model Y. Printed on recycled paper

To make a one-time filing:

1. File the return for the quarter in which you incur liability for the tax. See When To File in the Instructions for Form 720.
2. Pay the tax with the return. No deposits are required.
3. If you are an individual and do not have an employer identification number (EIN), enter your social security number (SSN) or individual taxpayer identification number (ITIN) on Form 720 and Form 720-V, Payment Voucher, in the space for the EIN.
4. Check the one-time filing box above Part I of Form 720.

Example. In August 2006, H, an individual, imports a car. The car has a fuel economy rating of 15 mpg, so H is liable for the gas guzzler tax of $4,500 (Form 6197, line 9). H meets the two conditions for a one-time filing, that is, (1) does not import gas guzzling automobiles in the course of his trade or business, and (2) is not otherwise required to file Form 720. H must file Forms 720 and 6197 for the third calendar quarter of 2006. H does not have to deposit the gas guzzler tax of $4,500 but instead pays with the return. H checks the one-time filing box on Form 720.

Efile your One Time reporting Gas Guzzler at www.TaxExcise.com and get instant IRS approval. It is Simple and Easy to do it online with us.

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