Tag Archives: Form 720

You Still Have Time to Complete Your Quarterly Federal Excise Tax Returns

The first quarter of Federal Excise Tax returns got due by April 30, 2021 and if you have missed the due date you still have time to report this excise taxes with the IRS. Report the taxes as early as possible to reduce the late filing and interest charges on the delay. TaxExcies.com has a intuit solution for taxpayers that would enhance the excise tax reporting process. This is a self serviced tax reporting website and getting started is simple, just start using by registering with your email and you have help around to walk you through the process screen by screen. No upfront charges, try for free and pay only when you opt to eFile or print the tax return.

Continue reading You Still Have Time to Complete Your Quarterly Federal Excise Tax Returns

Today April 30 Due Date For First Quarter Federal Excise Tax Reporting

The electronic filing platform have seen a consistent growth over the years and now this is the most preferred method to report and pay the Federal Taxes. The electronic filing also leads the taxpayers to directly report and pay the taxes with the IRS. The situation due to pandemic has pushed the taxpayers towards electronic filing. TaxExcise.com is a pioneer in handling Quarterly Excise Tax returns since 2007, infact the only website that supports electronic filing for all the Federal Excise Tax Forms at one place.

Continue reading Today April 30 Due Date For First Quarter Federal Excise Tax Reporting

TO AVOID PENALTIES, THE DEADLINE REMINDER ON TAXEXCISE FOR FILING YOUR FEDERAL EXCISE TAX RETURN ELECTRONICALLY FOR THE FIRST QUARTER 2021 IS APRIL 30, 2021.

Are you unsure if you need to file Form 720 and pay the excise tax? We’ve come to inform you just that. If you own a company and sell goods and services that are listed on Form 720, The fee, on the other hand, is found in the items that consumers buy, such as fuel for your vehicle or plane tickets. Businesses that deal with these goods and services are responsible for paying the bill. Excise tax is paid on a quarterly basis, and the first installment is due by the end of this month, so you must pay taxes on or before April 30, 2021. This is a reminder to excise taxpayers to log in and efile form 720 (Excise Tax) and report their returns electronically on www.TaxExcise.com as quickly as possible.

Continue reading TO AVOID PENALTIES, THE DEADLINE REMINDER ON TAXEXCISE FOR FILING YOUR FEDERAL EXCISE TAX RETURN ELECTRONICALLY FOR THE FIRST QUARTER 2021 IS APRIL 30, 2021.

The deadline for filing Form 720 for the first quarter of 2021 is April 30, e-file now!

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!

Missed Out Federal Excise Tax Deadline Then File At The Earliest

Quarterly Federal Excise Tax Form 720 for the 4th Quarter of 2020 was due this February 1  and if you have missed it file and pay the taxes at the earliest to make it less taxing. You can still report the taxes and pay the dues electronically at TaxExcise.com to lower your tax late filing charges, penalties and interests.

The tax filing deadline has come and gone. If you didn’t file a tax return and pay the taxes you owe to the IRS on your FET should have, you need to take action now. Filing soon is very important because the late-filing penalty and late-payment penalty on unpaid taxes adds up quickly.

The IRS is processing tax returns, issuing refunds and accepting payments. Taxpayers who mail or who have already mailed a tax return will experience a longer wait.  IRS encourages all taxpayers to make use of the electronic filing, it is fast, easy and safe. TaxExcise.com is the only website that offers secured and simple electronic filing services for all the Federal Excise Tax Returns at one place. TaxExcise.com is the most experienced and most trusted electronic filing service since 2007.

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The Internal Revenue Service announced that the nation’s tax season will start on Friday, February 12, 2021, when the tax agency will begin accepting and processing 2020 tax year returns. If you’re not ready with your Federal Income taxes for individual and business taxes, to get extra time to prepare on your tax return file for extension of time.

Federal Tax Extension Application Online

When the coronavirus pandemic hit in full force in March 2020, it upended normal life in a very meaningful way. Businesses were forced to shut down. Schools closed for in-person learning all over the country. And countless families were left scrambling to pay their bills.

Given that chaos, the IRS made what many agree was a smart and reasonable decision — to postpone 2020’s tax-filing deadline from April 15 to July 15. Not only were taxpayers given an extra three months to submit their returns, but they also got three more months to pay any tax debt they owed without incurring interest or penalties.

Unfortunately, tax filers won’t get any extra time this year to tackle their tax returns. The IRS has confirmed this week that it will not, in fact, be pushing back the April 15 deadline this year. If you haven’t begun to give your taxes some thought, now’s the time to get moving.

Start working with your Extension Tax Application to push your due date from April 15 to October 15 automatically by filing the extension tax forms with the IRS on time

Form 4868 – Automatic Extension of Time to File Individual Income Tax Return – Due Date April 15

Form 7004 – Automatic Extension of Time to File Business Income Tax Return – Due Date March 15 / April 15 as per your Business Type.

Form 8868 – Automatic Extension of Time to File Non-Profit Business Income Tax Return – Due Date May 17

Form 2350 – Automatic Extension of Time to File U.S. Individual Income Tax Return – Out of Country by April 15 – Due Date is June 15.

Get Extra Time