Tag Archives: excise tax

July 31 is just around the corner Form 720 falls due for second quarter filing!

The 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.

Form 720 – Quarterly Federal Excise Tax – 2nd Quarter – July 31 – Deadline!

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.

Environmental taxes—petroleum oil spills, imported petroleum products, ozone-depleting chemicals (if you must pay these environmental taxes, you’ll also have to complete IRS Form 6627)
Communication and air transportation taxes—phone service or air transportation
Fuel taxes—diesel, kerosene, gasoline, natural gas
Retail tax—trucks, trailers, tractors
Ship passenger tax
Foreign insurance taxes—health insurance policies issued by foreign insurers
Manufacturers taxes—coal, tires, “gas guzzler,” vaccines
PCORIFee – self-insured health plans and specified health insurance policies used to fund the Patient-Centered Outcomes Research Institute (the PCORI fee)
Indoor Tanning Service – tanning services offered across tanning salons

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.

Get Started with Form 720 – Quarterly Federal Excise Tax Returns at

IRS urges taxpayers to use electronic options; outlines online assistance

Today the IRS has urged people to use electronic services in a new release (Issue Number: IR-2020-68) and announced that is it closing the Taxpayer Assistance Centers and stop processing paper returns etc. The Internal Revenue Service reminds taxpayers and tax professionals to use electronic options to support social distancing and speed the processing of tax returns, refunds and payments.

Federal Excise Tax Filing can be made online at TaxExcise.com and we’re operational with limited resources remotely to support businesses that needs to support excise taxes online and for truck operators to report the Federal Vehicle Use Tax returns online. Connect to us at (866) 245 – 3918 or write to us at support@taxexcise.com.

To protect the public and employees, and in compliance with orders of local health authorities around the country, certain IRS services such as live assistance on telephones, processing paper tax returns and responding to correspondence are extremely limited or suspended until further notice. All Taxpayer Assistance Centers remain temporarily closed as are many volunteer tax preparation sites until further notice. This will not affect the IRS’s ability to deliver Economic Impact Payments, which taxpayers will begin receiving next week.

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IRS opens 2019 tax filing season for individual filers on January 27

The Internal Revenue Service confirmed that the nation’s tax season will start for individual tax return filers on Monday, Jan. 27, 2020, when the tax agency will begin accepting and processing 2019 tax year returns.

The deadline to file 2019 tax returns and pay any tax owed is Wednesday, April 15, 2020. More than 150 million individual tax returns for the 2019 tax year are expected to be filed, with the vast majority of those coming before the traditional April tax deadline.

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2020 New Year’s Resolutions

If you’re like many of us, you probably made at least one New Year’s resolution recently. According to TheQuint.com, the most common new year’s resolution is to get in shape, or at least, to make an effort to work out. That’s probably why January is the top month for sales of exercise gear and clothing.

Why is January 1st such a popular time for us to try and make changes in our lives? A new year offers us a fresh start, and a way to put our past behaviors to rest. In 1740, John Wesley, an English clergyman, held the first Covenant Renewal Service on New Year’s Eve. The service was a time for thinking about past mistakes and resolving to do better in the coming year.

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Is the playing field level for women at the loading dock?

Each year the American Transportation Research Institute (ATRI) asks drivers and carriers about their top concerns. As you can imagine, the drivers list differs from the trucking companies’ list, but some issues do affect both groups significantly.

Detention and delays at customer facilities was one of the issues that was important to both groups. It was the fifth concern for drivers and number sixth on the list for carriers. Delays at the loading docks reduce a driver’s productivity and decrease the level of compensation for both drivers and their companies.

ATRI gathers date through an online survey website but they also collect responses in person at the Mid-America Trucking Show each spring. This year they received over 1,100 responses from drivers. Thirteen percent of the drivers were female, which is actually much higher than the industry average of ten percent. Most of the respondents were company drivers, but surveys were collected from owner-operators and independent contractors as well.

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What is your intent?

Former U.S. Secretary of State Madeline Albright once said, “There is a special place in hell for women who don’t help other women.”

In this age of social media which allows anonymity and seems to breed contempt, there are too many people who hurl insults at one another without much thought to how it reflects on her (or him).

I read some of these nasty or offensive comments and it makes me wonder: What is the intent? Is the poster trying to offend people or is she just a negative person all the time? Is everyone so angry they just react to everything with rage?

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What if it was YOUR daughter?

Women In Trucking Association, A voice for gender diversity

Regan is a professional driver for YRCW. When she started working for the carrier, she identified as a male but has since transitioned into a female. She is one of the members of the gender diversity task force recently formed by the Women In Trucking Association (WIT) to understand the needs of the LGBTQ community better.

We realize there is a growing number of lesbian, gay, bisexual, transgender and queer professional drivers and other transportation workers. As the voice of gender diversity, we want to ensure we are inclusive and to create an awareness within the trucking industry.

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