Welcome to our blog. We are glad you made your way to our blog. Today, we are here with reminders and updates. January 31st stands as the due date to file Quarterly Federal Excise Tax Return online with TaxExcise.com in order to leave behind the penalties.
Wondering if you have to file form 720 and pay excise tax? We are here to tell you. Keep reading to know more:
If you are into a business and providing sales of goods and services of the products listed under form 720, you are liable to file taxes for the same on or before January 31st 2015. Excise Tax is paid on quarterly basis, and Q4 is due by this month end. This is a call for the excise taxpayers to come and efile form 720 (Excise Tax) and report their return online with utmost ease.
However, the tax is included in the goods of the customers purchase like gasoline for your car or flight tickets. The tax is paid by the businesses who deal with these products and services.
The form is divided into part I and II, dealing with its respective liabilities. You need to check through and understand the requirements framed for each business before reporting tax to IRS as the tax are calculated on varied grounds for each of the service or product. Ensure you are clear in your math or IRS would simply reject your form 720.
Form 720 is the application, which doesn’t support any extensions. And that makes it mandatory to efile excise tax on or before the due date (31st January). You have ample time to get your return prepared, however, it is important not to procrastinate tax at any point.
Now comes the most important part of tax, the filing process.
Filing tax was introduced in early 1990’s, and those days, paper was the only method to report tax to the government body. And with time, technology took its leap and efiling was another method introduced. Online filing is the method, which add ease to your task as well as allows you to enjoy filing in minutes. The advantage of electronic filing leaves you with no room for errors, wrong calculations and better filing. From the inputs of information to calculation, transmitting to IRS to payment online is made simple and reliable, enduring a better filing experience.
TaxExcise.com is a proud and authentic efiling service provider for filing Form 720 online with ease. The level of competiton is indeed shooting the sky, but we have managed to stick to around and lead the list. Efiling allows you to deal it your way with instant assistance. Reach our Tax Experts for better assistance @ @ 1-866-245-3918 or drop an email to support@taxexcise.com.