Tag Archives: 2290 online

Due Dates, E-file Indoor Tanning Service, Federal Excise Tax Electronic Filing, Form 2290 Efile, IRS Tax Tips and Alerts

IRS tax form 2290, Efile only with www.Tax2290.com

The IRS Form 2290 is made available from Nov 1, 2011 for the Tax Year 2011-12, If your vehicle was first used in July, August, September or October 2011, you are required to file Form 2290 by November 30, 2011. You will not be liable for any late filing penalty or interest if you meet this due date. Beginning November 1, 2011, we will provide a stamped (receipted) Schedule 1 to those who file and pay their tax.

Efile the IRS Tax Form 2290 through http://www.TaxExcise.com or http://www.Tax2290.com the #1 efile service provider and certified by the IRS.

E-file VIN correction

reporting VIN correction to the IRS can now be done online accessing http://www.taxexcise.com or http://www.tax2290.com. No need to send paper forms for correction the mistakenly filed VIN#. click here to check more

Efile 2290 Amendment

When reporting an original Form 2290 with IRS for the tax year, you would have increased your Gross Weight, or crossed the Mileage Limit from the originally filed Form 2290. Report an amendments online and get it corrected in your Schedule 1 copy. Click here to read more

Form 2290 Credits

Efile the Sold / Transferred / Destroyed Vehicle claims to the IRS and receive your claims faster now. You have paid and would have sold the vehicle, so IRS may owe tax credits for the sold vehicle. Now claim the 2290 refunds online and get your refund faster. Click here to read more

Please feel free to reach the Support Center at 866-245-3918 for any further support, we love to help you through your filing. Also email us your queries to support@taxexcise.com for instant reply

Due Dates, Form 2290 Amendment, Form 2290 Efile, Form 720 Quarterly Excise Tax Efile, IRS Tax Tips and Alerts

IRS to Host Public Meeting Dec. 8 on Real-Time Tax System

WASHINGTON –– The Internal Revenue Service will kick off a series of public meetings  Thursday, Dec. 8 to gather feedback on how to implement a series of long-term changes to the tax system described by IRS Commissioner Doug Shulman in an April 2011 speech at the National Press Club.  In that speech, the Commissioner described a vision where the IRS would move away from the traditional “look back” model of compliance, and instead perform substantially more “real time,” or upfront matching of tax returns when they are first filed with the IRS.  The goal of this initiative is to improve the tax filing process by reducing burden for taxpayers and improving overall compliance upfront.

Under the vision of a real-time tax system, the IRS could match information submitted on a tax return with third-party information right up front during processing and could provide the opportunity for taxpayers to fix the tax return before acceptance if it contains data that does not match IRS records

By contrast, today the IRS conducts a significant number of compliance activities months after the tax return has been filed and processed.  It is not uncommon for a taxpayer to receive a notice 12 to 18 months after a tax return is filed.  This after-the-fact compliance approach can create problems and frustrations for both taxpayers and the IRS.

At the public meetings, IRS officials will solicit feedback and input from outside stakeholders to provide comments and insight. The first meeting will feature representatives of consumer groups, the tax professional community and government representatives.  A future public meeting will include, among others, representatives of the employer and payroll community, the software industry, financial institutions and additional government representatives.

The first meeting, scheduled at 9:00 a.m. on Dec. 8, will take place at the IRS Headquarters Building Auditorium, 1111 Constitution Ave., NW, Washington, D.C. Those who would like to attend the meeting should e-mail the IRS atCL.NPL.Communications@irs.gov with the contact information for the attendees or call the IRS at 202-622-3359.

The next public meeting will be held early next year.

Source: www.IRS.gov Issue Number: IR-2011-114

Due Dates, Federal Excise Tax Electronic Filing, Form 2290 Efile, Form 720 Quarterly Excise Tax Efile, IRS Tax Tips and Alerts

Excise Summary Terminal Activity Reporting System (ExSTARS)

Excise Summary Terminal Activity Reporting System (ExSTARS)

What is ExSTARS?

ExSTARS is a fuel reporting system developed with the cooperation of the IRS, Department of Transportation, States, and Motor Fuel Industry, which details the movement of any liquid product into or out of an IRS approved terminal.

The ExSTARS system requires each terminal operator and bulk carrier to file monthly reports. Reports are filed for each approved terminal with a Terminal Control Number. The Terminal Control Number (TCN)/Terminal Locations Directory contains terminal control numbers and locations for IRS approved terminals.

Who is required to use ExSTARS?

Terminal Operators and Bulk Fuel Carriers (pipeline, vessel and barge operators) are required to file monthly information returns – Fuel Transaction Reports. All receipts and disbursements of liquid products to and from an approved terminal are reportable. If reportable transactions equal or exceed 25 during a monthly reporting period, electronic reporting through ExSTARS is required. Each receipt of liquid product and each disbursement of liquid product constitutes a separate transaction even if it is a single movement of fuel.

Form 720-TO Terminal Operator Report. Form 720-TO is required to be filed by a terminal operator to report monthly receipts and disbursements of all liquid products to and from all approved terminals.

Form 720-CS Carrier Summary Report. Form 720-CS is required to be filed by bulk transport carriers (barges, ships, and pipelines) who receive or deliver products in or out of storage at a terminal, or any other location designated by a facility control number (FCN).  Pipelines only file for receipt or delivery transactions at an approved terminal.

Facility Control Number System (FCN)

A facility control number designates a storage location within the motor fuel, or renewable fuel production or the bulk transfer / terminal system. Facilities include refineries (RCN), approved terminals (TCN), biodiesel production facilities (BCN), or ethanol production facilities (ECN). Currently, only TCNs are required to file returns.  Information in the RCN directory is required for reporting purposes for carriers. The BCN and ECN numbers will be released at a later date. Information regarding the use of FCNs was made public by an announcement in the Federal Register on April 12, 2010.

When to file?

The report is due the last day of the month following the reporting period. If any due date for filing a return falls on a Saturday, Sunday, or legal holiday, the report maybe filed on the next business day.

How to file?

• Apply to participate in electronic filing using letter(s) of application. Fill-in letters of application are available for Terminal Operator/Carriers and Transmitters.

• Electronic Filing (Electronic Data Interchange) over the Internet

• A test cycle will be used to test the exchange of files between the electronic filer and the IRS prior to submitting production files. These tests will ensure the successful submission of qualifying electronic Form720-TO, and Form 720-CS information returns.

• Paper submission of Form 720-TO and/or 720-CS

Why is filing required?

•  Implementation of Treasury Regulation 48.4101-2 requiring “taxable fuel registrants” to provide information reports.

• Match Information Returns against Excise Tax Returns.

The new electronic format will be available for testing beginning in early December 2010.

Please see a  summary of these changes for further details.

References/Related Topics

Source: IRS.gov read more.

Due Dates, Federal Excise Tax Electronic Filing, Form 2290 Efile, IRS Tax Tips and Alerts

Nine Tips on the 10 Percent Tax on Tanning Services

Starting July 1, 2010, many businesses offering tanning services must collect a 10 percent excise tax on the tanning services they provide. This excise tax requirement is part of the Affordable Care Act that was enacted in March 2010. Indoor Tanning tax has to be reported for the 1st Quarter of 2011 is due by May 2nd, 2011.

Use IRS Form 720, Quarterly Federal Excise Tax Return to report and pay the indoor tanning tax due by May 2, 2011. Act fast and report it electronically at www.TaxExcise.com

Here are nine tips on the tanning excise tax that providers must collect.

1. Businesses providing ultraviolet tanning services must collect the 10 percent excise tax at the time the customer pays for the tanning services.

2. If the customer fails to pay the excise tax, the tanning service provider is liable for the tax.

3. The tax does not apply to phototherapy services performed by a licensed medical professional on his or her premises.

4. The tax does not apply to spray-on tanning services.

5. If a payment covers charges for tanning services along with other goods and services, the other goods and services may be excluded from the tax if they are separately stated and the charges do not exceed the fair market value for those other goods and services.

6. If the customer purchases bundled services and the charges are not separately stated, the tax applies to the portion of the payment that can be reasonably attributed to the indoor tanning services.

7. The tax does not have to be paid on membership fees for certain qualified physical fitness facilities that offer indoor tanning services as an incidental service to members without a separately identifiable fee.

8. Tanning service providers must report and pay the excise tax on a quarterly basis.

9. To pay the tax, businesses must file IRS Form 720, Quarterly Federal Excise Tax Return using an Employer Identification Number assigned by the IRS. Businesses that don’t already have one can apply for an EIN online at IRS.gov.

Find more information about the excise tax on tanning services, IRS Form 720 and other tax provisions of the Affordable Care Act at www.Taxexcise.com.

Call our Help Desk Toll Free 1-866-245-3918 or simply email to us at support@taxexcise.com. Follow our tweets @taxexcise.com

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Due Dates, Federal Excise Tax Electronic Filing, Form 2290 Efile, IRS Tax Tips and Alerts, Tax Excise Users Alert

Excise tax on indoor tanning services, for the first quarter of 2011 is due May 2.

TaxExcise.com

Starting July 1, 2010, many businesses offering tanning services must collect a 10 percent excise tax on the tanning services they provide. This excise tax requirement is part of the Affordable Care Act that was enacted in March 2010.

Use IRS Form 720, Quarterly Federal Excise Tax Return to report and pay the indoor tanning tax due by May 2, 2011. Act fast and report it electronically at www.TaxExcise.com

What is taxable indoor tanning service?

Taxable indoor tanning service means a service employing any electronic product designed to incorporate one or more ultraviolet lamps intended for the irradiation of an individual by ultraviolet radiation, with wavelengths in air between 200 and 400 nanometers, to induce skin tanning

Who must pay the indoor tanning services tax?

Indoor tanning service providers are responsible for collecting the tax from the person paying for the service and in some situations, from the person receiving the service.What is taxable indoor tanning service?

Taxable indoor tanning service means a service employing any electronic product designed to incorporate one or more ultraviolet lamps intended for the irradiation of an individual by ultraviolet radiation, with wavelengths in air between 200 and 400 nanometers, to induce skin tanning.

Who must report the tax to the government?

The person receiving the payment for the indoor tanning service must report the indoor tanning services tax on and remit the full amount of tax with a timely filed return.

How do I report the indoor tanning services tax?

Report the indoor tanning services tax on Form 720, Quarterly Federal Excise Tax Return electronically at www.TaxExcise.com and get it accepted by the IRS in minutes.