We have an important message about your Form 720 tax returns, today is the deadline to file Form 720 excise tax return for the third calendar quarter of 2020 (July, August, and September). However it is only applicable for businesses that deals in goods and services subject to excise tax. If you were responsible for collecting excise taxes during this quarter and haven’t filed your tax return yet, you must prepare and file it by today, November 2nd, 2020.Continue reading Today is the Deadline to file Form 720 excise tax return for the third calendar quarter of 2020 (July, August, and September)
Every trucker operating inter state and intrastate carriers must file IFTA fuel taxes. IFTA is an agreement among American states and Canadian jurisdictions that enables uniform collection and distribution of fuel taxes paid by motor carriers traveling in several jurisdictions. It is a voluntary program. The 2nd Quarter filing is due now, act fast and file it before July 31st.
Carriers that regularly travel in other provinces or states and purchase fuel in one jurisdiction, but use the fuel in another jurisdiction, will benefit. IFTA membership allows the carrier to significantly reduce the paperwork and compliance burden for fuel tax reporting. A carrier licensed under IFTA is required to submit only one quarterly fuel tax return to its base jurisdiction, where it is registered. Continue reading IFTA Fuel Tax for 2nd Quarter is Due this July 31st.