Category Archives: Insiders on E-filing

Taxpayers should file their tax return on time to avoid costly interest and penalty fees

Taxpayers should file their tax return by the deadline even if they cannot pay their full tax bill. Taxpayers who owe tax and don’t file on time, may be charged a failure-to-file penalty. This penalty is usually five percent of the tax owed for each month, or part of a month that the tax return is late, up to 25%.

If an individual taxpayer owes taxes, but can’t pay in full by the April 18, 2022, deadline, they should:

File their tax return or request an extension of time to file by the April 18 deadline.

  • People who owe tax and do not file their return on time or request an extension may face a failure-to-file penalty for not filing on time.
  • Taxpayers should remember that an extension of time to file is not an extension of time to pay. An extension gives taxpayers until October 17, 2022, to file their 2021 tax return, but taxes owed are still due April 18, 2022. 

Tax Season 2022 and the deadlines are just around the corner, IRS has many ways to pay your tax liabilities and choose a right option to pay the taxes that you owe on-time and complete reporting your tax returns electronically. If you need additional time to report the tax returns apply for Extension of Time using Form 7004 (Business Taxes) and Form 4868 ( Personal Taxes) at https://ExtensionTax.com. 

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Thank you for serving our country, Happy Veterans Day.

Happy Veterans day

Each year on Veterans Day we at TaxExcise.com applaud and pay our due respects to all those who have served this great country during both good and bad times. We thank all military personnel both servicemen and servicewomen alike who have given so much to our country, let’s not forget that our warriors will always be our heroes and we salute you for your service. Happy Veterans Day to our soldiers, both past and present. We owe you our thanks, but more than that, we owe you our freedom.

We would also like to applaud our very own heroes. Unlike most soldiers who are equipped with state-of-the-art equipment our soldiers come out guns blazing, our heroes prefer to make engines roar by working tirelessly and covering tarmac more like a superhero with a cape on. (just like every other hard-working American would do)

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E-file your prorated form 2290 by September 30, 2021, for trucks first used in August 2021.

ThinkTrade Inc. – Medium

Truckers, may we have your attention please, The deadline was August 31, 2021, to complete your form 2290 renewal for the tax year 2020-21, however, you still can e-file if you haven’t already, but it’s preferable to file now than later. The shorter time you wait to file, the lower the penalty will be. There’s also a prorated form 2290 to deal with, which is due by September 30, 2021, for trucks that were first utilized in August 2021.

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Just 2 days remaining to E-File Form 2290 for 2021-2022

Due to a large volume of filings taking place it is advisable to have the HVUT Form 2290 completed a few days before the deadline allowing you to beat the last minute rush and also gives you an ample amount of time to make any corrections if necessary. Be sure to have your Form 2290 completed for Tax Year July 2021 – June 2022 before the August 31st deadline in order to stay compliant and avoid any late filing charges with added penalties and interests.

Being the only IRS Authorised E-File Service Provider that’s over a Decade Old it is important that we stand up to your expectations and provide you with continuous support, guidance and undisrupted service. What sets us apart as a company is our vast knowledge gained over the years and unmatched customer service.

For any tax related questions feel free to reach our fully operational help desk. Being the very last day to report HVUT Form 2290 our support desk will be operational until midnight today making sure all returns are processed on time. Our three way line of communication allows you to speak to us by phone @ 866-245-3918 or write to us at support@taxexcise.com, to have your questions answered instantly do also try out the LIVE CHAT option available on the Website.

Stay Safe, Stay Compliant, Happy Trucking!!

How to pay the tax payable on the HVUT Form 2290 renewal filing for the tax year 2021-22.

Every year, on or before August 31, the Heavy Vehicle Use Tax Form 2290 must be renewed. Taxes are a necessary component of doing business and cannot be avoided. The Heavy Vehicle Use Tax (HVUT) Form 2290 is one such tax that truck owners and trucking companies must file. Any big vehicle with a gross weight of 55,000 pounds or more must file this tax once a year. Because the HVUT tax period runs from July to June and the tax is paid in advance at the start of the tax year, the due date to renew Form 2290 for the Tax Period 2021–2022 is August 31st.

The IRS has enabled and has been accepting tax payments using Credit/ Debit cards for over 2 years now. Apart from Credit/ Debit card payment, the IRS has 4 different payment options to pay the taxes,

  • EFW (Direct debit from Bank account)
  • EFTPS (Electronic Federal Tax Payment System)
  • Credit/ Debit
  • Pay by Check/ Money Order
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