Tag Archives: 4th Quarter Form 720

Being the Change of Women Empowerment in Trucking!

Women trying to enter the trucking industry have long faced cultural and physical barriers. Presently, there are an estimated 200,000 women behind the wheel of big rigs across the U.S, which seems like a lot; however represents less than mere 5 percent of the nearly 4 million-member truck-driver work force. Had Ellen Voie never cared about the women looking to enter the male-dominated trucking industry, the world would still have been waiting for someone like her to change the scenario for the better. But she was not ready to wait for someone else; she took the charge in her own hands and founded Women In Trucking in 2007. Today, a decade later, the firm is globally recognized and applauded for promoting careers in trucking for women and demolishing barriers that have kept women from joining the driver ranks for so long. Continue reading

Form 720, Quarterly Excise Tax Return for 4th Quarter of 2017 is due NOW!

Form 720 is a quarterly excise tax return that some; businesses must file with the Internal Revenue Service. According to the IRS, “Excise taxes are taxes paid when purchases are made on a specific goods, such as gasoline. Excise taxes are often included in the price of the product. There are also excise taxes on activities, such as on wagering or on highway usage by trucks.” If you accrue excise taxes in the course of doing business, you should know the rules on filing 720 taxes.

Who Must File

If, as a business entity, you were liable for any of the federal excise taxes listed by the IRS on Form 720, Parts I and II, you must file the form. The excise taxes included in Part I are such items as petroleum spill taxes and ozone-depleting chemical tax; communications and air transportation taxes; fuel taxes for diesel, kerosene, gasoline, and other gases; coal and tire manufacturing taxes.

In Part II, the IRS enumerates such excise taxes as those related to the sales of sport fishing and archery, inland waterways fuel use taxes and Bio-fuel sold, but not used as fuel. Continue reading

Time to Prepare and File your 2017 4th Quarter IFTA!

 

The deadline to file your 2017’s 4th Quarter IFTA Return is January 31, 2018. A Quarterly IFTA Tax Return must be filed even if the licensee does not operate or purchase any taxable fuel in an IFTA member jurisdiction during the quarter.

 

What you need:

  1. Mileage log-whether you use manual trip sheets, GPS, or electronic trip sheets; it is not only necessary to have in order to file your quarterly IFTA return, but you will need these if you are even audited.
  2. Fuel Receipts-you will need to know how many gallons of fuel were purchased in each state.

 

Options to prepare and file your return:

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2017’s Taxes that are due by January 2018!

www.Taxexcise.com / www.Tax2290.com – a product of Think Trade Inc wishes you all a very Happy New Year. A fresh new year is once again upon us. It’s the time to be thankful for the blessings of the past year and to take stock of all our achievements. At the same time, New Year 2017 is a brand new year to start afresh, to start strong, and yet another chance to do everything we want to do this year.

Hope you all had a great holiday season; it’s now time to get back to business & take care of the last obligations of 2017. Though Fiscal year 2017 has ended there are few Taxes of 2017 that are due this month i.e. January 2018. Below are the list of Tax Forms that are due by January 2018 & those are supported by www.Taxexcise.com / www.Tax2290.com – a Product of Think trade Inc. Continue reading