www.TaxExcise.com / www.Tax720.com is a pioneer application to report Form 720, Quarterly Federal Excise Taxes to IRS electronically or by a traditional paper filing method.
Purpose of Form:
Form 720 and attachments can be used to report liability by IRS No. and pay the excise taxes listed on the form;
List of few excise taxes reported on Form 720 are: Continue reading Reporting Form 720 (Quarterly Federal Excise Tax Return)
Greetings! You have landed at the right place in case you have been wondering why everyone’s talking laurels about e-filing over paper for long now. Obviously, you go green immediately, without wasting paper products of our beloved little left trees. The ability to file your tax returns round the clock throughout the week right at your desk at home makes life very comfortable and easy. The speed of the entire tax return process dramatically increases with e-filing over paper due to advanced internet capabilities thus saving you money and energy worked out on postage/fax/courier/delivery charges, which of course can be used over a million other valuables. Continue reading Why e-file Form 2290 and not paper file?
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.
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
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
WASHINGTON — In an annual reminder to taxpayers, the Internal Revenue Service announced today that it is looking to return $153.3 million in undelivered tax refund checks. In all, 99,123 taxpayers are due refund checks this year that could not be delivered because of mailing address errors.
Undelivered refund checks average $1,547 this year.
Taxpayers who believe their refund check may have been returned to the IRS as undelivered should use the “Where’s My Refund?” tool on IRS.gov. The tool will provide the status of their refund and, in some cases, instructions on how to resolve delivery problems.
Taxpayers checking on a refund over the phone will receive instructions on how to update their addresses. Taxpayers can access a telephone version of “Where’s My Refund?” by calling 1-800-829-1954.
While only a small percentage of checks mailed out by the IRS are returned as undelivered, taxpayers can put an end to lost, stolen or undelivered checks by choosing direct deposit when they file either paper or electronic returns. Last year, more than 78.4 million taxpayers chose to receive their refund through direct deposit. Taxpayers can receive refunds directly into their bank account, split a tax refund into two or three financial accounts or even buy a savings bond.
The IRS also recommends that taxpayers file their tax returns electronically, because e-file eliminates the risk of lost paper returns. E-file also reduces errors on tax returns and speeds up refunds. Nearly 8 out of 10 taxpayers chose e-file last year. E-file combined with direct deposit is the best option for taxpayers to avoid refund problems; it’s easy, fast and safe.
The public should be aware that the IRS does not contact taxpayers by e-mail to alert them of pending refunds and does not ask for personal or financial information through email. Such messages are common phishing scams. The agency urges taxpayers receiving such messages not to release any personal information, reply, open any attachments or click on any links to avoid malicious code that can infect their computers. The best way for an individual to verify if she or he has a pending refund is going directly to IRS.gov and using the “Where’s My Refund?” tool.
More Links:
Video: Undeliverable Refunds: English | Spanish | ASL
Podcast: Undeliverable Refunds
Source: www.irs.gov Issue Number: IR-2011-113
Form 720, Quarterly Federal Excise Tax Return, is used to report and on excise taxes collected by the business for a variety of products and services. Use Schedule A to show the amount of your total liability for excise taxes for the quarter.
When Must Form 720 Be Filed
The form must be filed quarterly:
1st quarter – April 30
2nd quarter – July 31
3rd Quarter – October 31
4th Quarter – January 31.
Trust Fund Tax
Excise taxes are a trust fund tax, meaning that they are collected by the business and held in trust, then paid to the IRS at specific times. If the full amount of the tax is not submitted when due, a trust fund recovery penalty may be imposed.
A payment voucher is included with Form 720. Include it when you send your payment. Send the form and payment to:
Department of the Treasury
Internal Revenue Service
Is electronic filing of Form 720 required?
Electronic filing of Form 720 is optional for any taxpayer who chooses to e-file. Still IRS recommends e-filing.
How do I choose a transmitter to e-file Form 720 returns?
IRS has posted the contact information of all approved e-file transmitters . You will need to select one to your liking. IRS does not endorse any one provider and cannot make recommendations. All listed providers are approved to submit returns to the IRS electronically.
When can I e-file Forms 720?
IRS is currently accepting electronically-filed Forms 720. Forms can be submitted online 24 hours per day.
Where and how do I access the electronic Form 720 returns?
Taxpayers will be required to submit their electronic Excise Tax forms through an approved transmitter/software developer.
Will it cost anything to e-file Form 720 returns?
Yes. To electronically file Form 720 taxpayers will incur the cost of the provider’s required service fee for online submission.
What are all Excise Tax forms can be filed electronically?
At this point, the Excise forms available for electronic filing are Form 2290, Heavy Highway Vehicle Use Tax, Form 720, Quarterly Federal Excise Tax and Form 8849, Claim for Refund of Excise Taxes (Schedules 1,2,3,5 & 6,8).
How will e-file of Form 720 improve results?
Electronic filing of Form 720 will allow IRS to provide expedited and improved service and reliability to taxpayers while reducing processing time and errors.
www.tax720.com, an online website to file a “Quarterly Federal Excise Tax Return – Form 720”. Businesses and Tax Professionals can now file their quarterly Federal Excise taxes electronically (e-file) or a standard paper return using our product. We support forms 6627, 6197, Schedule C, Schedule T and Schedule A, for both paper and electronic filings.
ThinkTrade, Inc. has a successful proven track record of supporting Heavy Vehicle Use Tax Form 2290 (www.tax2290.com) and Claim for refund of Excise taxes Form 8849 (www.tax8849.com). All of these excise tax filing forms are grouped into a single website at: www.taxexcise.com for your convenience !!
