Category Archives: International Fuel Tax Agreement

Recent IRS Updates and TODAY’S Deadlines for Q2 IFTA & Pro-rated Form 2290

Unlike many other tax return deadlines, the deadline on the Heavy Vehicle Use Tax Form 2290 has not been extended. Every truck driver who travels in and around America will need to file new returns before the actual due date of August 31st. During recent months due to the sudden surge of filings taking place, the IRS has also issued certain guidelines to make this process less cumbersome.

The following are a few key points issued by the IRS for Form 2290.

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Form 2290 Renewal for TY 2020 & IFTA for Q2 of 2020 Due Now!!

In an era when smartphones and tablets have taken over, filing tax returns through paper is slowly going extinct and completing tax returns online is the need of the hour as it is easier, precise and efficient. The less complicated your tax return is, the more rudimentary is the preparation for it.

The slight panicky feeling that happens when deadlines approach and start to accumulate is every tax payer’s worst nightmare. These tax deadlines happen once every year or every quarter and failure to address them results in penalties and interest from Uncle Sam.

It’s time now to put on your thinking hat and have these tax returns completed in order to stay compliant with the IRS. A Few Tax forms that are Due this month would namely be:-

  • Form 2290: The Federal Excise Tax Form 2290 also known as Heavy Vehicle Use Tax (HVUT) is due for renewal for the current 2020 tax year. And the deadline to report any new Vehicles first used in the month of June is due by July31st.
  • IFTA: International Fuel Tax Agreement is due by July 31st for the second quarter of 2020.
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You never fail to amaze us, be safe out there while delivering life’s necessities!

Our heroes never fail to amaze us. If they stop the world stops. Truck drivers brave the new outbreak to deliver goods and services around the country. Though most of the highways are shut down deliveries of groceries and basic supplies have hit an all-time high, with shoppers piling up on supplies. Truckers are working flat-out to keep stores and businesses stocked as consumers worry about riding out home quarantines. Trucking companies are running full throttle to keep up with supply which means as always drivers are needed to stay on the road.

Our greatest strength is our Truckers, we take this moment in appreciating all the efforts taken risking amidst the COVID-19 in delivering the goods/ commodities for the common pubic by staying safe and driving safe, THANK YOU.

We also like to keep you posted that the regular deadline for filing Federal Income Tax Returns has been extended three months, the new deadline to file income tax extension is July 15, 2020, due to the coronavirus outbreak. However, there has been no confirmation on the HVUT Form 2290 filing and tax payment deadline extensions, or for the quarterly federal excise tax form 720 and IFTA. Do tune in or check back with us for any recent updates on tax deadlines. So it would be safer to not miss the current tax filing deadline March 31, 2020, to file Pro-rated Form 2290 due only for vehicles first used in February 2020 since July 1, 2019.

As we navigate this latest economic challenge brought on by the Covid-19 outbreak, we are having to take special measures to keep business “as usual” for our employees and the businesses and owner-operators we partner with. It is important that we provide you the continuous support, guidance with undisrupted service; we’ve taken all the necessary measures to remotely be at your reach through all our 3-way communication. You can reach us for any kind of assistance related to Form 2290, Form 720, Form IFTA, Form 8849 refund claims and status, and Income Tax extension filings by Phone 866-245-3918, Email: support@taxexcise.com & Live Chat support from our website www.TaxExcise.com.

You might not have access to the IRS offices for the filings due to the lockdown, it would be in your best interest to e-file your Form 2290 from home while quarantined. The IRS has been actively processing all Form 2290 tax returns electronically, use our website to get your returns filed instantly. You may also use our Android and iOS app for your filings.

Be safe out there dear truckers while you deliver us the life’s necessities!

E-File Now!! Deadline Fast Approaching for Form 2290, Q4 Form 720 & IFTA

3 Tax Forms, 3 Days, One Place to get it all Completed at TaxExcise.com !!

In the fast-paced Trucking Industry overcoming deadlines is the most essential part to stay compliant with the IRS, missing out on these crucial deadlines will result in penalties with interest for late filing. It feels like this year has just begun, but we are almost at the end of the first month of 2020. The interesting fact about the month of January is that you have Three Tax Deadlines corresponding together on January 31st.

CAUTION !! Deadlines Ahead.

Form 2290

Was your vehicle used for the first time in December 2019?

If YES, then you will need to file IRS Form 2290 by the end of this month to get your Schedule-1 Copy within minutes only at www.TaxExcise.com.

Form 2290 is due by January 31st for vehicles first put into service in the month of December 2019. You must file Form 2290 for these trucks by the last day of the month following the month the vehicle was first used on public highways.

Form 720

Form 720, Quarterly Federal Excise Tax Return has to be reported by the last day of the month following the calendar quarter, this form is filed every quarter to report taxes imposed on the manufacture, sale or usage of certain type of goods and products and the deadline for the 4th quarter of 2019 is January 31st. Failure to file or late filing will result in penalties with interest.

IFTA

International Fuel Tax Agreement report is filed for vehicles that travel in at least 2 or more IFTA jurisdictions. All reports will house the amount of fuel used and mileage covered for each jurisdiction traveled. IFTA fuel reports are due four times a year, the last day of the month after each quarter closes. Prepare this report for the fourth quarter of 2019 before the January 31st deadline.

With Three Tax Form deadlines fast approaching every day counts, the last few days will see an exceptional amount of returns being processed by the IRS, beat the deadline race by filing online using www.taxexcise.com / www.tax2290.com. Our user-friendly website allow users to report and complete tax returns in a cost-effective and timely manner. Returns processed online do get a quicker response and are accepted in just a few minutes.

Need Help Filing Online?

Do not worry, Our Tax Experts are just a phone call away. And did you know that we are the only online service provider that can be reached by Phone, Email and Live Chat? Yes, you heard that right, our three-way line of communication gives users multiple options for assistance. You can reach us @ 866-245-3918 or just drop us an Email @ support@taxexcise.com, do also try out our LIVE CHAT feature available on the website.

IRS Form 720 Quarterly Federal Excise Tax Return is Due January 31 for Q4 of 2019!

Greetings from taxexcise.com your trusted e-file partner and the first IRS authorized electronic filing service provider, in fact, the only website that supports Efile for all excise tax forms at one place.

We would like to keep you reminded that Federal Excise Tax form 720 for the 4th Quarter of 2019 is due on or before January 31st, 2020, pay it on time to avoid any late filing charges with penalties.

Reporting Federal Excise Tax form 720 is perhaps one of the most complicated and complex processes with owning a business. Our online platform makes filing of form 720 less tedious and much simpler by saving you time, money and unwanted mistakes that are quite common with manual filing.

We are the only IRS authorized service provider that allows the user to login from any computer, laptop or mobile device by just visiting our website Taxexcise.com. And that being said, you are liable to file Form 720, the federal excise taxes every quarter when you offer specific goods or services that are manufactured or imported into the U.S.

It is quite easy for anyone to prepare the excise taxes here at TaxExcise.com.

New to TaxExcise:

Create your free user account by completing the simple form by telling us your name, email and phone number.

Returning User:

Just log in at www.TaxExcise.com to access your account dashboard.

Complete Your Business Information:

Add the complete physical address of your business, Employer Identification Number (EIN) and the tax related information.

Review Your Return:

Choose the tax form, filing period and the filing quarter. Start entering your tax information, review the information in the consolidated summary.

Submit Your Return:

Choose e-file, pay the processing fee with your credit/debit card and submit your Quarterly Federal Excise Tax return for processing.

Acknowledgment in Inbox:

IRS acknowledgment would be sent to your registered email inbox. If you have subscribed for Text Alert, a message will be shared to the cell number. You may print a copy of your Form 720 PDF any time by accessing your user account.

Never miss out on the upcoming January 31 deadline, act fast and file your returns on time to avoid paying extra on top of your tax as penalties and interests along with late filing charges.

For any support if required feel free to reach us at 866 – 245 – 3918 or write to us at support@taxexcise.com, LIVE CHAT support is also available that allows you to connect with our agents and get your questions answered instantly.