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  • It’s green. Filing electronically takes the paper, envelopes and stamps out of tax filing. If you bank online, pay your bills online, and shop online, why not do your taxes online too? It saves the environment and saves you from a trip to the IRS office.
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Try IRS e-file: After 21 years, IRS e-file has become the safe, easy and most common way to file a tax return. Last year, 70 percent of taxpayers – 99 million people – used IRS e-file. Starting in 2011, many tax preparers will be required to use e-file and will explain your filing options to you. This is your chance to give it a try. IRS e-file is approaching 1 billion returns processed safely and securely. If you owe taxes, you have payment options to file immediately and pay by the tax deadline. Best of all, combine e-file with direct deposit and you get your refund in as few as 10 days. Continue reading

IRS Announces 2011 Air Transportation Tax Rates

The Internal Revenue Service today announced the 2011 inflation adjustments to the excise taxes on air transportation.

Excise taxes apply to the domestic segments of taxable air transportation and to the use of international air facilities. The Airport and Airway Extension Act of 2010, Part IV, signed into law on Dec. 22, 2010, extends these excise taxes to air transportation that begins or is paid for no later than March 31, 2011.

These excise taxes are adjusted annually for inflation:

  • For 2011, the excise tax on the domestic segment of taxable air transportation is $3.70, unchanged from 2010.
  • The excise tax for 2011 for international flights that begin or end in the United States is $16.30, up from $16.10 in 2010.
  • The tax on use of international air facilities also applies at a reduced rate to departures of interstate flights that begin or end in Alaska or Hawaii. For 2011, the international air facilities tax on these flights is $8.20, up from $8.10 in 2010.

The new rates take effect Jan. 1, 2011.

Further details pertaining to the excise taxes on air transportation can be found in Form 720, Quarterly Excise Tax Return, and its instructions.

New Years greetings!!!

The holidays are a great time for keeping in touch with family and friends. It’s Holiday Season!!! ThinkTrade, Inc. and TaxExcise.com wishes you all a very Happy and a Prosperous New Year, 2011.

May the dawning of this New Year, fill your heart with new hopes, open up new horizons and bring for you promises of brighter tomorrows.

Happy and Safe Trucking!!!

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