As people begin to file their 2020 tax returns, taxpayers are reminded to avoid unethical ghost tax return preparers.
A ghost preparer is someone who doesn’t sign tax returns they prepare. Unscrupulous ghost preparers often print the return and have the taxpayer to sign and mail it to the IRS. For e-filed returns, the ghost will prepare but refuse to digitally sign as the paid preparer.
Continue readingThe Internal Revenue Service reminds taxpayers who filed an extension that the Oct. 15 due date to file their 2019 tax return is near. Taxpayers should file their tax returns on or before the Oct. 15 deadline. For those who still owe, pay as soon as possible to reduce any penalties and interest.
Convenient electronic filing options, including IRS Free File, are still available. Taxpayers and tax professionals should continue to use electronic options to support social distancing and speed the processing of tax returns, refunds and payments.
Although October 15 is the last day for most people to file, some taxpayers may have more time.
Continue readingThe deadline to file and pay heavy highway vehicle use tax is Monday, August 31. All taxpayers who file Form 2290 are encouraged to do so electronically. Those with 25 or more taxed vehicles must e-file. All the information needed to file is on the Trucking Tax Center.
Taxpayers who e-file can get a stamped Schedule 1 within minutes after the IRS accepts the form. Due to COVID-19, those who choose to file on paper can expect a significant delay in receiving their IRS stamped Schedule 1.
The IRS has suspended the mailing of three notices – the CP501, the CP503 and the CP504 – that go to taxpayers who have a balance due on their taxes. Although the IRS continues to make significant reductions in the backlog of unopened mail that developed while most IRS operations were closed due to COVID-19, this temporary adjustment to processing is intended to lessen any possible confusion that might be associated with delays in processing correspondence received from taxpayers.
Continue readingWith the tax season kicked off in July we started processing Form 2290 returns for Tax Period July 2020 through June 2021. August 31, 2020 is the due date this year and 2290 taxes has to be reported and paid for vehicles that is put to use in July 2020. Electronic filing can guarantee IRS watermarked Schedule 1 “Proof of Payment” instantly once it is made available by the IRS. We would suggest to file it little earlier to allow some time to work on your return if in case it gets rejected by the IRS. Even if you missed to add a vehicle or if you happen to report an amendment or VIN correction.
Efile 2290 is always rewarding for the truckers, owner operators and trucking companies to save on the 2290 tax preparation charges. Recordkeeping is great when you efile with us. For long time now IRS has stopped sending Printed Form 2290 to the truck taxpayers as a reminder. Tax2290.com has taken adequate effort to remind our users about the tax season and deadlines, even we roll out prefiling for early filers to make best use of it.
Continue readingIn the latest release from IRS highlighting to choose electronic filing to report and pay the Federal Vehicle Use Tax Form 2290. Tax2290.com guarantees easy, fast and safe filing; economic, affordable and transparent pricing; quality, experienced and live expert support to help you through with your 2290 efile. Tax2290.com is the most experienced and market leader since 2007.
The Internal Revenue Service reminded owners of most heavy highway vehicles of their responsibility to timely file Form 2290, Heavy Highway Vehicle Use Tax Return. The highway use tax applies to highway motor vehicles with a taxable gross weight of 55,000 pounds or more. This generally includes large trucks, truck tractors and buses. The tax is based on the weight of the vehicle. A variety of special rules apply. These special rules are explained in the instructions to Form 2290.
Truckers, owner operators and heavy haulers need to report vehicle use tax Form 2290 on vehicles put to use on public highways. IRS Form 2290 is used to report and pay Heavy Vehicle Use Tax, or HVUT. You must file Form 2290 with Schedule 1 annually if a taxable highway motor vehicle, in this case any heavy vehicle weighing 55,000 lbs or more, is registered in your name in the U.S., Canada, or Mexico.
The highway use tax (HVUT Form 2290) applies to highway motor vehicles with a taxable gross weight of 55,000 pounds or more. 2290 tax returns must be filed and tax payments must be paid by August. 31st for the heavy motor vehicles used on the road during July. The deadline generally applies to Form 2290 and the accompanying tax payment for the tax year that begins July 1, 2020, and ends June 30, 2021. For motor vehicles first used after July, the deadline is the last day of the month following the month of first use.
Continue readingThe Quarterly Federal Excise Tax Form 720 deadlines for the 2nd Quarter of 2020 is July 31, 2020 and just couple of more days to go. All the businesses that has collected excise taxes through the services offered or goods sold has to be reported and paid in Form 720 by July 31. Electronic filing can keep your tax deadline straight and on-time. You can do it by yourself in 3 simple steps at http://TaxExcise.com.
Federal Excise Tax Form 720 and attachments are to report to the IRS at end of every quarter listing the liabilities and pay the taxes collected. The federal government charges an excise tax on specific types of products and services, which has to be collected and paid to IRS at regular intervals, quarterly.
E-file is the most preferred option of reporting excise taxes with the IRS. However you can also take a print out of the complete Form 720 PDF and file it manually or mail it across to the IRS as specified in the form.
Your business needs to fill out IRS Form 720 if you deal in the goods or services for which excise taxes are due. These products and services can include, but are not limited to: Telephone communications, Air transportation, Gasoline, Passenger ship transportation, Coal, Fishing equipment, Indoor tanning services, Bows and arrows, Tires, Vaccines etc.
Electronic filing is by and large the best way of reporting Quarterly Federal Excise Tax Form 720 returns with the IRS and get the best available resources. The most trusted and top rated website since 2007.
The Internal Revenue Service today reminded business taxpayers that their 2019 tax returns and tax payments, as well as their first two 2020 estimated tax payments, are due on Wednesday, July 15.
The July 15 due date generally applies to any tax return or tax payment deadline that was postponed due to COVID-19. In April, the IRS said that this postponement applied to all taxpayers that had a filing or payment deadline falling on or after April 1, 2020, and before July 15, 2020. No late-filing penalty, late-payment penalty or interest will be due for payments prior to July 15.
Continue readingTax 2290 is the federal vehicle use tax form reported across the states with the IRS in a year between July and June. The tax year starts from July 2020 to June 2021 and IRS watermarked Schedule 1 proof is the valid document to show that it is been paid for the listed vehicle. Here let us see what it is is, when it is reported, how it is paid and many.