The tax season of 2021 is in full swing, the deadline for filing a personal income tax return was extended to May 17, 2021. This also extends the deadline for any money owed without incurring a late fee or interest penalties. However IRS has now moved or pushed away the 1st Quarter Federal Excise Tax reporting dates and this falls due this week. April 30, 2021 is the deadline and choose eFiling at TaxExcise.com, the priority efiling at an affordable rate.Continue reading April 30 Is The Due Date For First Quarter Federal Excise Taxes And Just 5 Days To Go
As the FIRST IRS AUTHORIZED & ONLY DECADE OLD E-file Service Provider for E-filing, it is our duty to alert all excise taxpayers of the upcoming deadline. Form 720, Quarterly Federal Excise Tax Reporting, to be sent by the end of the calendar quarter. Form 720 is filed quarterly to record taxes levied on the manufacturing, distribution, or use of a certain class of goods and materials, with the first quarter deadline falling on April 30th, 2021. We’re halfway through April, which means we’re approaching the Due Date for the first quarter of 2021. Walking to the local IRS office or mailing the paper-filled Form 720 in this short time period is the slowest way of filing form 720 and you can foresee a delay in getting the filings acknowledged and if the date is skipped or filed late, you will have to incur penalties.
Keep in mind that even though you have no sales to record, you must also file a Form 720 by choosing the alternative for a Zero Return (Zero Tax Liability). This is to notify the IRS that you have no Excise taxes to declare for the year.Continue reading With less than a month before the deadline, E-file Forms 720 and 2290 before April 30, 2021.
Taxes are one of the most challenging and complicated aspects of running a business. There are several forms to fill out, each with its own set of conditions and deadlines. In light of that, businesses who deal with the selling of such products and services must file Form 720. These companies must pay “Excise Taxes,” which are additional taxes.
If the company is in charge of filling out Form 720, you must file it periodically and can do it either online or by mail. The IRS Form 720 has three components, as well as sections for Schedule A, Schedule T, and Schedule C. Excise taxes, on the other hand, must be paid on a semimonthly basis and through electronic funds transfer. A semimonthly period is described by the IRS as the first 15 days of the month (first semimonthly period) or the 16th to the last day of the month (second semimonthly period). Your excise taxes will be calculated as a percentage of gross revenue or a percentage of units sold, depending on your specific business.
Over a calendar year, this Federal excise tax is divided into four months, with each quarter’s date falling on the last day of the next month, i.e., by April 30 for the first quarter, July 31 for the second quarter, October 31 for the third quarter, and January 31 for the fourth quarter. The first quarter of 2021 (for the months of January, February, and March) must be submitted by April 30, 2021. Even if you are not responsible for excise taxes during any of the year’s quarters, you must submit Form 720 by the deadlines.Continue reading The deadline for filing Form 720 for the first quarter of 2021 is April 30, e-file now!
Time and Tide waits for none! Very old saying but suits every situation especially when it comes to Taxes. April is not only the Month to file and Pay your Personal Income taxes but has few other deadlines as well. Continue reading Monday April 30th: Due Date to File Three Taxes!
Life is complex. You don’t have any person who is nice from the beginning until the end. It is our attitude at the beginning of a difficult task which, more than anything else, will affect its successful outcome. Well began is half done. It is always a great idea to schedule all your tasks by the beginning of the month, so that you do not miss any important work that needs your utmost attention.
The month of April has just began, being an IRS Authorized E-file Service Provider it becomes our responsibility to remind Every Tax Payer about upcoming tax Deadlines for the month and where to get it done with ease.
Upcoming Tax Deadlines: Continue reading List of Excise Taxes Lined up for you this April!