The federal excise taxes are reported to the IRS at the end of a quarter and for the 2nd Quarter of 2021 it was due on August 2, 2021. If you have missed the deadline you can still file it with the IRS at TaxExcise.com and minimize the late filing charges. Missing out tax reporting completely if not good for a business, it would affect your credits with the federal government. Start collecting your documents and complete your Federal Excise Taxes Online at TaxExcise.com, it is simple, easy and a step by step process any one can try efiling through us.
Federal Excise Taxes on IRS Tax Form 720.
If you’re into a business that deals with Goods or Services that has a excise tax included and if you were liable for, or responsible for, collecting any of the federal excise taxes then it has to be reported with the IRS. Some of the components included with excise taxes are Telephone communications, Air transportation, Gasoline, Passenger ship transportation, Coal, Fishing equipment, Indoor tanning services, Bows and arrows, Manufactures of Tires and Vaccines etc.
It’s also important to note that although alcohol, tobacco and firearms require excise taxes, they are not covered under IRS Form 720. These products are regulated by the Alcohol and Tobacco Tax and Trade Bureau and taxes must be filed using the return form on their website.
Federal Excise Taxes are Quarterly Returns.
Essentially the IRS Tax Form 720 must be completed by the last day of the following month the quarter ends, the first quarter ends on March 31, so the form is due by April 30. Accordingly the second quarter ends on June 30, the actual due date is July 31, 2021. The date for filing Form 720 falls on a Saturday, so file the return by the next business day that is August 2, 2021.
Electronic Filing for Form 720 with the IRS.
TaxExcise.com is the first ever IRS authorized efile provider for all the Federal Excise Tax Forms since 2007. Electronic filing at TaxExcise is made easy and simple, the approach here is interview type and when you complete answering our simple questions the tax return is done. No need to have complete tax knowledge to efile your excise taxes at TaxExcise, you just need to know the basics and enter the details asked in the process.
We’re the market leader for Form 720, Form 2290 and for Form 8849; in fact we are the only provider to support all the Excise Tax Reporting at one place. Secured and accurate math, simple steps and quick process. Electronic filing is easy to work with, you can explore and try using the service no up front fee. Create a new user account, fill in your business details, start preparing your quarterly excise taxes and while completing the process when you’re about to submit it with the IRS or take a print of your Form 720 you would be prompt to make the service fee payment. No hidden charges, no transaction charges; you pay what you see. while you efile you can pay your tax dues electrically and choose the preferred way of paying your taxes and submit it.
Electronic filing is preparing your tax returns on your own, with the automated tax engine that does the math internally and you submit it to the IRS directly for processing. The acknowledgement of acceptance is sent to your email inbox. No guesswork what so ever, very transparent process and easy to do approach.
Zero Liability Return Return is $29.99
This is the time of pandemic and there are many businesses that go through the tough situation and has a zero liability to report with the IRS. Zero liability is nil taxes for the quarter but still that has to be reported to the IRS by the due date. The IRS would be sending in notice and charge you late filing fee if the zero liability is not reported on time. We made it simple for any business to report the Zero Liability return at an affordable cost of $29.99 and it is easy to do it by yourself.
Form 2290 Help Desk and Support through the process
TaxExcise is easy, simple and quick, as stated any one can use the service to efile Federal Excise Taxes with the IRS directly. The tax data is securely sent to the IRS through a encrypted channel and prevent data thief or loss. We have an experienced tax experts at our Help Desk to guide you through the process, in fact we can walk you through the steps one by one and guide you to complete the tax returns online. We’re available from 8:00 AM to 6:00 PM Central Time and working through all the business working days. You can also write to us at support@TaxExcise.com and we shall call you to assist you through the process. Our intent is to make efiling affordable and available to every taxpayer, filing from any part of country. Electronic filing is the most preferred way of reporting taxes with the IRS, easiest and safest way and saves you a lot of tax preparation time and money.