Holiday Season is right around the corner, so is the Year end. January 1st will be the first blank page of a 365-page book & December 31st will the last page of 366-page book. Let’s start writing good & positive things on the new book for which we have to complete old book without any back logs. Let’s carry only good memories & happy moments to the upcoming year, not the incomplete things we leave behind in 2016.
Taxes are one thing that we always want to complete on time as it adds Excruciating actions attached to it. There are several Taxes that needs to be filed on or before December 31st, One such Tax is Federal Excise tax Form 2290 (HVUT) for vehicles first used in the month of November. Though E-filing was introduced to lessen the burden for Tax Payers, every year the IRS will shut down their E-file Servers towards the end of the year for Maintenance. During the shutdown they will neither process any Tax returns nor will they issue acknowledgements. Continue reading →
In the United States, it is mandatory that Individuals and companies doing business need to file taxes with the Federal Government. Based on the circumstance of the company or taxpayer there are a multiplicity of forms available for filing tax. Another way Form 720 is Quarterly Federal Excise Tax Return.
What is the purpose for filing IRS Form 720?
IRS form 720 is utilized to file and disburse excise taxes due on a quarterly basis in order to keep liabilities well under control. Depending on their business model, select companies are requisite to pay excise tax to the federal government. Businesses involving trade of gasoline or tobacco or in services including indoor tanning are required by law to file an excise tax return. Continue reading →