Category Archives: Tax720.com

Fuel Limit

First fuel rules for big trucks!!

Fuel LimitPresident Obama announced the first-ever fuel-economy rules for semis, buses and other heavy-duty vehicles — down to HD pickups.

The rules will start with model year 2014 and escalate through 2018, the Associated Press reported.

The rules break down the vehicles into three categories:

  • Diesel semis will have to cut fuel use 23%.
  • HD pickups and vans will have to do 10% better if they are gasoline-powered and 15% if they run on diesel.
  • Everything else — from buses to garbage trucks to cement mixers — will have to cut use 9%. Continue reading

One Billion Served: IRS E-File Passes Major Milestone

File Excise Taxes @ www.taxexcise.com

WASHINGTON — IRS e-file has reached a major milestone as it passed the one billion mark for individual tax returns processed safely and securely since 1986.

The Internal Revenue Service’s electronic filing program started as a pilot project in 1986 and became available nationally in 1990. Prior to the April 18 deadline, IRS e-file passed another high point as more than 100 million individual tax returns were e-filed during the 2011 filing season. Continue reading

Report Excise Tax Forms [2290, 8849 & 720] online at TaxExcise.com

Excise Tax e-File & Compliance (ETEC) Programs – Form 720Form 2290 and Form 8849

The Excise Tax e-File project was initiated to satisfy the IRS’ requirement to provide electronic filing of Form 2290,Heavy Highway Vehicle Use Tax Return, as directed in the American Jobs Creation Act (October 2004). Excise Tax e-File & Compliance (ETEC) Programs (Form 7202290 and 8849) has joined the ever-growing-number of tax forms and schedules that can be electronically filed, providing taxpayers the speed and reliability that millions of taxpayers and business owners already enjoy. www.TaxExcise.com offers simple, easy and quick website to file all these excise tax form electronically with IRS. Efile, It’s as easy as 1-2-3!!! Continue reading

Quarterly Excise Tax Return, Form 720

Form 720 is a quarterly excise tax return that some, but not all, businesses must file with the Internal Revenue Service. According to the IRS, “Excise taxes are taxes paid when purchases are made on a specific good, such as gasoline. Excise taxes are often included in the price of the product. There are also excise taxes on activities, such as on wagering or on highway usage by trucks.” If you accrue excise taxes in the course of doing business, you should know the rules on filing 720 taxes. Continue reading

10-PERCENT EXCISE TAX FOR INDOOR TANNING SERVICES

IF YOUR BUSINESS OFFERS ULTRAVIOLET TANNING SERVICES… WE HAVE A REMINDER FOR YOU.

THE FIRST QUARTERLY PAYMENT FOR THE NEW 10-PERCENT EXCISE TAX FOR INDOOR TANNING SERVICES IS DUE NOVEMBER 1ST.

THIS IS BECAUSE OF A NEW LAW THAT WENT INTO EFFECT JULY 1ST, 2010

NOW… THERE IS A LIMITED EXCEPTION FOR CERTAIN QUALIFIED PHYSICAL FITNESS FACILITIES THAT OFFER INDOOR TANNING SERVICES.

THE TAX DOES NOT HAVE TO BE PAID ON MEMBERSHIP FEES TO QUALIFIED PHYSICAL FITNESS FACILITIES THAT OFFER INDOOR TANNING SERVICES AS AN INCIDENTAL SERVICE TO MEMBERS… PROVIDED THE FACILITY DOESN’T SELL TANNING SERVICES TO THE GENERAL PUBLIC. Continue reading