Tag Archives: Fourth Quarter 720

Form 720 for the First Quarter of 2020 due by April 30.

Form 720 is filed by businesses that deal with the sale of certain goods and services. These businesses are required to pay extra taxes, known as “Excise Taxes”. This Federal excise tax has four quarters for a calendar year and the deadline for each quarter is last day of the following month i.e, by April 30 for the first quarter, by July 31 for the second quarter, by October 31 for the third quarter and by January 31 for the final quarter. The first quarter of 2020 (for the months Jan, Feb and Mar) is due by April 30.  And Even if you are not liable for excise taxes during any of the quarters of the year, you must send in Form 720 according to the due dates.

Due to the ongoing situation many businesses and essential services are closed and do not have any Excise tax to report. Though they have no sale to report they will still need to file out a Form 720 by reporting a Zero Return (Zero Tax Liability).

A zero return substantially means that no sale or business operations were conducted during that quarter. And Having Form 720 completed essentially allows the business to stay compliant with the existing norms and guidelines listed by the IRS.

Away from your desk, currently working from home, and is the tax deadline crunch getting to you, Look No Further !!

To ensure we are able to provide you with the best customer service, our tax experts are at your disposal for any Federal tax-related questions. Feel reach us on our toll-free number @ 866-245-3918 or drop us an email to support@taxexcise.com do also try out our LIVE CHAT option available on the website. We’re available on all Business days between 9:00 AM to 6:00 PM Central Time. Thank you for your support.

Note: The IRS offices might not be at your reach, but they’re fully operational to support E-filing and all the returns filed through our website are being processed by the IRS within minutes.

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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.

Stay compliant with the clearinghouse and the upcoming Tax Deadlines for Form 2290, IFTA and Form 720!

TaxExcise.com has been the most preferred website for E- filing since 2007 and is the first IRS authorized service provider, through the course of all these years we have set our standards to a certain level so as to gain expertise and knowledge about any new updates, which in turn helps us to serve you better.

The start of the New Year naturally brings with it new responsibilities that make us pause and tread with caution. The Trucking Industry has an unstable market and makes us all wonder what the government will do next since New Laws and Regulations are quite common in the trucking business.

A new transportation bill was passed by Congress which will allow the trucking industry to create more jobs and strengthen our transportation system by monitoring and improving highway safety.

The Clearinghouse is a secure online database that will give employers, FMCSA, State Driver Licensing Agencies, and State law enforcement personnel real-time information about CDL driver drug and alcohol program violations, thereby enhancing safety on our Nation’s roadways. This new rule will allow employers as well as the FMCSA mandate drug and alcohol testing programs. This will allow employers to know if the hired driver is capable of performing functions safely while operating a vehicle.

As per the new bill the Drug and Alcohol Clearinghouse has come into effect from January 6, 2020. Employers, drivers, medical review officers (MROs), substance abuse professionals (SAPs), and consortia/third-party administrators (C/TPAs) must register to access the Clearinghouse. Registration are available at https://clearinghouse.fmcsa.dot.gov/register.

Spoiler Alert !!!

That being said, let’s get back to business, we would also like to keep you reminded about the upcoming tax form deadlines. The following tax forms are due by 31st January 2020.

HVUT Form 2290 

Any vehicle used after July in a tax period would only pay a pro-rated tax amount due by the last day of the month following the month the vehicle was first used on public highways. Form 2290 is due for vehicles first put into service in the month of December 2019, January 31st will be the last day to file Tax Form 2290 on those units.

Tax Form 720

Form 720 is used to pay the quarterly Federal Excise Tax that is prepared by any business that deals with goods and services subject to excise tax. Excise Tax Form 720 for the 4th is due on or before January 31, 2020, do have this completed on time to avoid any penalties with interest for late filing.

Tax Form IFTA 

The International Fuel Tax Agreement is also due Quarterly for drivers who travel between two or more member jurisdictions (48 states and 10 Canadians Provinces) this report needs to be filed and taken to their respective Local Jurisdictions for renewing their IFTA license. Tax Form IFTA for the 4th Quarter of 2019 is also due by January 31, 2020.

You might also be wondering about how to get these forms completed as soon as possible and most importantly before the deadline. We at www.taxexcise.com / www.tax2290.com are here to make your filing experience as easy as possible. If you are already a customer, just click on the above link to log in to your account and report the tax returns. But if you are not a customer yet, it is never too late to start on a smooth and easy path that will make your filing experience less complicated and convenient. Just click on the link and join thousands of businesses and owner-operators that are currently using our E-file services.

Do not miss out on the January 31st deadline to report these forms as failure to report or file on time will result in penalties and interest. In order to assist you better, we are one of the few providers that has a three way line of communication, this allows our users to reach out to us for any tax related questions or advice. You can reach our Tax Experts @ 866-245-3918 or you can also email us @ support@taxexcise.com, do also try out our newly upgraded Live Chat Option available on the website.

List of ThinkTrade Inc’s Services – You Need This Month!

ThinkTrade Inc is authorized and certified by IRS to offer e-filing services for federal excise and extension taxes. There are various Tax Forms, Supported by ThinkTrade Inc under the banner of www.taxexcise.com / www.ExtensionTax.com / www.tax2290.com . One can say for sure that there are no months without some or the other tax deadline. Right now we are in the month of April and we know that there is a huge list of tax Forms that are due this month.

Below are the lists of Tax Forms that are due this Month, than can be filed through ThinkTrade Inc’s Line of Applications: Continue reading

List of Excise Taxes that are due this April!

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