Author Archives: Tax Expert

About Tax Expert

An e-tax professional at http://www.taxexcise.com, a product of Think Trade Inc., A BBB accredited, IRS authorized E-file service provider for all kinds of Excise taxes like Form 2290, Form 720, Form 8849 etc, my articles will reflect friendly ideologies of my company just like how friendly our e-file tax application is to them. For any queries, reach us @ 866-245-3918 or email us on info@thinktradeinc.com

IRS offers online webinars on tax reform basics for businesses

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Members of the small business community can now view webinars on some tax reform provisions that affect businesses. The webinars include:

Never take a chance with your 2290 electronic filing, report it on time to receive IRS watermarked Schedule-1 proof in just minutes. Time to efile 2290

2018 Fourth Quarter Excise Tax Form 720 is DUE NOW!

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“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 →

IFTA Taxes are now Due for 4th Quarter of 2018

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The 4th Quarter 2018, IFTA Fuel Use Tax falls due now and time to report it with the state authorities. The IFTA license offers several benefits to the interstate/inter-jurisdictional motor carrier. These benefits include one license, one set of decals, one quarterly fuel tax report that reflects the net tax or refund due. These advantages result in cost and time savings for the carrier and the member jurisdictions.

Prepare your State IFTA Fuel Use Tax returns in 3 simple steps, take a print out of it and file it today!. The accurate and fastest website to prepare the IFTA Fuel Use Tax returns online.

Support available all the way to walk-you through the tax preparation process… talk to us at 866 – 245 – 3918 or write to us at support@taxexcise.com. Happy Trucking!

IFTA Q4 Deadline

IRS confirms tax filing season to begin January 28

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New Year’s is the perfect occasion to celebrate Love, friendships and all the good things in life. Let’s take the time to appreciate what Year-2018 has given us and what the new year 2019 is about to bring! A new year means new beginnings, new hope and time to work with the tax return preparation and reporting. We at ThinkTrade, Inc along with TaxExcise, ExtensionTax and Tax2290 wishing you and your family and friends a Happy New Beginning for 2019.

Here is the latest update from IRS about the filing season that is been confirm to start from Jan. 28th. However the IRS will begin accepting all business tax returns at 9 a.m. Eastern on January 8, 2019 which would include Federal Excise Tax Forms 2290, 8849 and 720. Infact the Federal Excise Taxes for 2018 4th Quarter is now due and Jan. 31 is the deadline, try reporting it online in an effortless and simplified website, TaxExcise.com Continue reading →

IRS issues standard mileage rates for 2019

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The Internal Revenue Service today issued the 2019 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Beginning on Jan. 1, 2019, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

  • 58 cents per mile driven for business use, up 3.5 cents from the rate for 2018,
  • 20 cents per mile driven for medical or moving purposes, up 2 cents from the rate for 2018, and
  • 14 cents per mile driven in service of charitable organizations.

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Happy Thanksgiving from all of us at Think Trade Inc.

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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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ThinkTrade Inc., Wishes everyone a Happy Veterans day!

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Happy Veterans Day

Triumph is only for those who are not afraid and never quits!

Our veterans accepted the responsibility to defend America and uphold our values when duty called, so true without their services & Sacrifices we would have not been enjoying the freedom that we have today. On this Veterans Day, let us remember the service of our veterans, and let us renew our national promise to fulfill our sacred obligations to our veterans and their families who have sacrificed so much so that we can live free. Continue reading →

Important Reminders to Individual Taxpayer Identification Number Holders

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Important Reminders about ITIN from IRS

  • Your ITIN may expire before you file a tax return in 2019. All ITINs not used on a federal tax return at least once in the last three years will expire on December 31, 2018. Additionally, all ITINs issued before 2013 with middle digits of 73, 74, 75, 76, 77, 81, or 82 (Example: (9XX-73-XXXX) will also expire at the end of the year.
  • If you need to file a tax return in 2019, IRS recommends you submit a Form W-7, Application for IRS Individual Taxpayer Identification Number, or Form W-7(SP), Solicitud de Número del Identificación Personal del Contribuyente del Servicio de Impuestos Internos, now to renew your ITIN. As a reminder, ITINs with middle digits 70, 71, 72, 78, 79 or 80 that expired in 2016 & 2017 can also be renewed.
  • See the ITIN Fact Sheet for more information
  • Along with your Form W-7, you will need to:
    • attach your original identification documents or certified copies by the issuing agency and any other required attachments.
    • select the reason for needing the ITIN as outlined in the Form W-7 and W-7(SP) instructions.
      Note: A tax return is not required with a renewal application.

What is an ITIN?

An Individual Taxpayer Identification Number (ITIN) is a tax processing number issued by the Internal Revenue Service. The IRS issues ITINs to individuals who are required to have a U.S. taxpayer identification number but who do not have, and are not eligible to obtain, a Social Security number (SSN) from the Social Security Administration (SSA). Continue reading →

Heads up for taxpayers who requested an extension: The deadline is October 15

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October 15 is the filing deadline for taxpayers who requested an extension for their 2017 tax return. However, those who have an extension should mark this coming Monday, Oct. 15 as the deadline to file.

While the deadline is just around the corner, there are still things these taxpayers can remember to make sure they file a complete and accurate return. Here are a few tips and reminders for taxpayers who have not yet filed:

Try IRS Free File or e-file. Taxpayers can e-file their tax return for free through IRS Free File. The program is available on IRS.gov through Oct. 15. IRS e-file is easy, safe and the most accurate way to file taxes. Continue reading →

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

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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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