Tag Archives: IRS

Farmers, fishermen face March 1 tax deadline; IRS encourages convenience of IRS Direct Pay

WASHINGTON — The Internal Revenue Service reminds farmers and fishermen who chose to forgo making quarterly estimated tax payments that they must file their 2018 Form 1040 along with a payment for all taxes owed by Friday, March 1, 2019.

This special rule normally applies to taxpayers whose farming or fishing income was at least two-thirds of their total gross income in either the current or the preceding tax year. Farmers and fishermen choosing not to file by March 1 should have made an estimated tax payment by Jan. 15 to avoid a penalty.

IRS Direct Pay is safe, free Continue reading

IRS Videos help taxpayers learn more about tax reform

The IRS has several videos that can help individual and business taxpayers learn more about the tax reform legislation. The IRS posts these videos on the IRS Video Portal and to their YouTube channel. Aside from these sites, the IRS offers tax reform information on its other social media channels, such as Twitter and their new Instagram account. Taxpayers can visit the Multimedia Center on IRS.gov for links to all the agency’s social media sites.

Here are some of the tax reform videos taxpayers can watch on their computer or on their smartphone when they’re on the go. Continue reading

2018 Fourth Quarter Excise Tax Form 720 is DUE NOW!

“This is a question too difficult for a mathematician. It should be asked of a philosopher” ― Albert Einstein.

Taxes are something that one cannot avoid till he/she is alive; likewise if you own a business you will have to file a list of taxes to keep your business alive. One such Tax is Federal Excise Tax, filed through Form 720 every quarter.

Any business that deals with goods and services are subject to excise tax, it must prepare a Form 720 quarterly to report the tax to the IRS. Ways to prepare and file your taxes are only two, Either your fill out a paper form, figure out complicated calculations and mail it to the IRS or E-file Form 720 through www.Taxexcise.com , “THE ONLY E-FILE SERVICE PROVIDER FOR FORM 720”.

Below is the list of Major Tax Categories filed through Form 720: Continue reading

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.

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