Tag Archives: IRS

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

IRS launches new easy-to-use web pages to help all taxpayers understand tax reform

In a recent update from IRS, there is an announcement about a new website to help taxpayers to understand the tax reforms and this release itself is tagged as IRS Tax Reform Tax Tip…

IRS Tax Reform Tax Tip 2018-132, Dated, August 23, 2018

With an updated tax reform section and frequent updates, the IRS website should be the first stop for taxpayers looking for information about how tax reform legislation – the Tax Cuts and Jobs Act – affects their taxes. Here are some facts about these new easy-to-read, easy-to-use pages and what taxpayers can find on them: Continue reading

One Stop Shop for all the Three Taxes that are DUE NOW!

Life’s a balancing act. You have multiple roles and goals, and you can do it all       – Denise Morrison

With just Three Official Working days remaining in July, we have three tax that are due.

Below is the list of taxes that are due: Continue reading

Three Tax Forms Supported by ThinkTrade Inc. that are DUE NOW!

“I hate paying taxes. But I love the civilization they give me” – Oliver Wendell Holmes Sr

 Taxes are part and parcel of our lives. Though you have notes on your calendars about upcoming Tax Due dates, as THE ONLY DECADE OLD AND THE FIRST EVER IRS AUTHORIZED E-FILE Service Provider for E-filing Heavy Vehicle Use Tax Form 2290 (HVUT) It becomes Our responsibility to remind every honest Excise tax payer about the Three Deadline that are DUE NOW Continue reading

Form 2290, Form 720 & IFTA all Three Taxes are Due NOW!

Those who are wise won’t be busy, and those who are too busy can’t be wise.  ― Lin Yutang

Well no matter how wise you are, if you are an Excise Tax Payer You are damn busy this month. That is simply because of the fact that it’s not 1 or 2 but Three Taxes are DUE as of now. The only E-file Service Provider who can cover you up for all the Three Taxes is www.Tax2290.com / www.TaxExcise.com – Products of Think Trade Inc.

The List of Taxes that are due: Continue reading

Members of the Military and their Families Can Get Free Tax Assistance 2018

IRS in its recent tax tip issue (Issue Number: IRS Tax Tip 2018-51) highlighted how the Members of the Military and their Families can get free tax assistance. Here we go…

The IRS offers free tax help to members of the military and their families through the Volunteer Income Tax Assistance program. A VITA site is easy to find on or off base — even overseas.

The Armed Forces Tax Council directs the military tax programs worldwide. Military VITA-certified employees receive training on military tax issues, including tax benefits for service in a combat zone. They can help with special extensionsof time to file tax returns and pay taxes, or with special rules that apply to the Earned Income Tax Credit. Continue reading

Security Summit urges tax pros to protect their identification numbers: EFINs, PTINs and CAF numbers

IRS has urged every tax pros to protect their identity numbers through the latest issue, Issue Number: IR-2018-61. Here is the complete coverage of the issue for you to read.

WASHINGTON – The Internal Revenue Service, state tax agencies and the tax industry today urged tax practitioners to maintain and monitor their Electronic Filing Identification Numbers (EFINs) and Centralized Authorization File (CAF) numbers to help safeguard taxpayer data.

Cybercriminals sometimes post stolen EFINs, PTINs and CAF numbers on the Dark Web as a crime kit for identity thieves who can then file fraudulent tax returns. EFINs are necessary for tax professionals or their firms to file client returns electronically. Preparer Tax Identification Numbers (PTINs) are issued to those who, for a fee, prepare tax returns or claims for refund. CAF numbers are issued when tax practitioners or their firms file a request for third-party access to client files.

To assist tax professionals, the IRS created a new video and web page – How to Maintain, Monitor and Protect Your EFIN. These offer tips to practitioners.

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:

Continue reading

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