Category Archives: Commons

Commons

Happy Thanksgiving from all of us at Think Trade Inc.

On Thursday, the holiday season will officially kick off. Last year more than 100 million people went shopping over #Thanksgiving weekend and nearly 35 million hit the stores on #ThanksgivingDay.
Whether you will be camping out to grab those outrageous door buster sales on Black Friday, supporting the mom and pop shops around your home on Small Business Saturday, or counting down the days to those special Cyber Monday deals, here are a few things to keep in mind while shopping this holiday season.
#BBB recommends following these approved tips:

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Oct. 15 tax-filing extension deadline approaches for millions of taxpayers

Have you requested for six month extension on reporting your income tax returns? then this is a wake-up call from IRS. Your 6-month extension is about to due on October 15…

The Internal Revenue Service today urged taxpayers who requested the six-month filing extension to double check their tax returns and file on or before the mid-October deadline. IRS e-file and Free File are excellent filing options and are still available.

More than 14 million taxpayers filed for an extension in 2018 and, although Oct. 15 is the last day for most people to file, some may have more time. They include:

  • Members of the military and others serving in combat zone localities still have more time. They typically have until at least 180 days after they leave the combat zone to both file returns and pay any taxes due.
  • Taxpayers in several disaster area localities who already had valid extensions now have more time to file. Currently, taxpayers in parts of California, North Carolina, South Carolina and Texas qualify for this relief. For details, see the disaster relief page on IRS.gov. However, like other extension filers, these taxpayers were required to pay what they owed by April 18, which was this year’s filing deadline for 2017 tax returns.

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IRS extends upcoming deadlines, provides tax relief for victims of Hurricane Florence

In the latest communication issued by the IRS (Issue Number: IR-2018-187), there is a relief for Hurricane Florence victims.


WASHINGTON — Hurricane Florence victims in parts of North Carolina and elsewhere have until Jan. 31, 2019, to file certain individual and business tax returns and make certain tax payments, the Internal Revenue Service announced today.

The IRS is offering this relief to any area designated by the Federal Emergency Management Agency (FEMA), as qualifying for individual assistance. Currently, this only includes parts of North Carolina, but taxpayers in localities added later to the disaster area, including those in other states, will automatically receive the same filing and payment relief. The current list of eligible localities is always available on the disaster relief page on IRS.gov.  Continue reading

Last few days to renew 2290s and receive IRS watermarked Schedule-1 proof

Truckers hope you’re aware of the fast approaching HVUT Form 2290 Deadline. Yes, August 31 is the last day and IRS anticipate to get a huge volume of 2290 returns this week. Act fast and report your 2290 truck tax returns well in advance and get it done before you got up into this virtual traffic.

AUGUST 31 – DEADLINE REMINDER FOR IRS TAX FORM 2290

Filing taxes online is generally safer, faster, and easier ― and you will get your IRS watermarked (stamped) Schedule-1 proof with IRS e-File Logo and the date on it much sooner (according to IRS you may receive yours in 10 minutes) and you could choose to pay 2290 taxes through Direct Debit (EFW) from your US bank account. You also have the option of paying taxes with your Credit / Debit Card from this year onwards.  Continue reading

Last few days to claim 10% off on your efile fee apply code FRIENDSHIP

Sometimes in life we find a person who take a very special place in our heart and become so important in our lives. They take care of us even at any situation and shares emotions and feelings that called best friends. We always need to cherish our friendship with our best friends this Friendship Day is celebrated on Sunday, 5th of August.

Make your friend feel extra-special and strengthen your bonding with him/her by sharing with them a special discount code “FRIENDSHIP” to avail flat 10% OFF on 2290 efiling at TaxExcise.com.

Happy Friendship Day - 10% OFF to efile 2290

Friendship founded on business is always better than business founded on friendship!

Life is not about the quantity of friends you have. it is the quality of the friends you have! we wish every one out there a Happy Friendship Day… Keep rocking #Truckers. I’m so grateful to have a trucker friend and I’m gone share this with him and help him avail extra love and care.


Time to renew 2290 Heavy Vehicle Use Tax

Less time left to renew Federal Vehicle Use Tax Form 2290 with the IRS by paying  the HVUT taxes in full. August 31 is the deadline and act fast, renew it by reporting your 2290 electronically. TaxExcise.com and Tax2290.com, the best website to e-file, save your time and effort. Apply code FRIENDSHIP to avail a flat 10% off on your efile fee, valid till 5th of August.


 

Truck Tax Form 2290 electronic filing and 10% discount on e-file fee

If you’re a trucker with a heavy motor vehicle that has a taxable gross weight of 55,000 pounds or more, you are required to report and pay HVUT Form 2290 to get a stamped copy of your Schedule 1. You must file for any taxable highway motor vehicles that are required to be registered in your name under state, District of Columbia, Canadian, or Mexican law at the time of its first use during the tax period.

You must e-file your Form 2290 if you are filing for 25 or more motor vehicles, but IRS encourage e-filing for anyone required to file Form 2290 and who wants to receive quick delivery of their watermarked Schedule 1. With e-file, you’ll get it almost immediately after IRS accepts your e-filed Form 2290. Continue reading

IRS issues new Strategic Plan; five-year plan’s goal to help taxpayers

From IRS Latest Issue ( Issue Number: IR-2018-123) referring to the new strategic plan to help taxpayers. Here it is…

WASHINGTON –– The Internal Revenue Service today released a new five-year Strategic Plan outlining goals to improve taxpayer service and tax administration.

The Fiscal Year 2018-2022 IRS Strategic Plan will serve as a roadmap to help guide the agency’s programs and operations. The plan will also help meet the changing needs of taxpayers and members of the tax community.

“Providing service to taxpayers is a vital part of the IRS mission, and the new Strategic Plan lays out a vision of ways to help improve our tax system,” said IRS Acting Commissioner David Kautter. “The plan is part of an ongoing effort by the IRS to work with the tax community and find ways to improve our work for taxpayers and for the nation.” Continue reading

About Employer Identification Number (EIN) and apply for it

An Employer Identification Number (EIN) is also known as a Federal Tax Identification Number, and is used to identify a business entity. Generally, every businesses need an EIN to electronically report their taxes with the IRS. Employer Identification Numbers are issued for the purpose of tax administration and are not intended for participation in any other activities (e.g., tax lien auction or sales, lotteries, etc.). If you don’t have one for your business, apply for it today and allow upto 15 days to get one in your preferred name.

Check here: Do You Need an EIN? 

Determine Your Eligibility

  • You may apply for an EIN online if your principal business is located in the United States or U.S. Territories.
  • The person applying online must have a valid Taxpayer Identification Number (SSN, ITIN, EIN).
  • You are limited to one EIN per responsible party per day.

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Annual exempt organization return: Due date is May 15

Extension of Time to File Exempt Organization Returns

Use Form 8868, Application for Extension of Time To File an Exempt Organization Return, to request a 6-month automatic extension of time to file any of the following returns:

  • Form 990, Return of Organization Exempt from Income Tax
  • Form 990-BL, Information and Initial Excise Tax Return for Black Lung Benefit Trusts and
  • Certain Related Persons
  • Form 990-EZ, Short Form Return of Organization Exempt from Income Tax
  • Form 990-PF, Return of Private Foundation
  • Form 990-T, Unrelated Business Income Tax Return
  • Form 1041-A, U.S. Information Return – Trust Accumulation of Charitable Amounts
  • Form 4720, Return of Certain Excise Taxes on Charities and Other Persons under Chapter 41
  • and 42 of the Internal Revenue Code
  • Form 5227, Split Interest Trust Information Return
  • Form 6069, Return of Excise Tax on Excess Contributions to Black Lung Benefit Trust under
  • Section 4953 and Computation of Section 192 Deduction
  • Form 8870, Information Return for Transfers Associated with Certain Personal Benefit Contracts

An organization will only be allowed an extension of 6 months for a return for a tax year. Continue reading

Just a week left to complete your Quarterly Federal Excise Tax Returns

The Federal Excise Tax returns are reported at the end of a quarterly with the IRS through the Tax Form 720. This excise tax return is now due for the 1st Quarter of 2018, April 30th is the last date to report it. You could prepare and report it online through http://TaxExcise.com, the only website that supports electronic filing for all the federal excise tax returns.

Along with the Federal Excise Tax returns, IFTA Fuel Tax returns reports on your heavy motor vehicles for  the 1st Quarter is also due in this April, 30. Prepare it online, print them to file it manually with your state authorities.

Quarterly Federal Excise Tax Reporting

Why TaxExcise.com?

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