In light of the many COVID-19 restrictions placed across the country, self-quarantine and social distancing requirements are helping to stop the spread. IRS in view of this pandemic has closed it manual operation center and encourage every taxpayer to move electronic. The 1st Quarter Federal Excise Tax Form 720 is now due and April 30 is the due date. It is in good faith we’re posting this blog to encourage taxpayers to complying with the tax filing standards to support the government.
TaxExcise.com is now operational to accept electronic filing for the 1st Quarter Federal Excise Tax returns which can be prepared and reported online with the IRS. In fact the only website that supports efile for all the Federal Excise Tax Forms at one place since 2007. We know how important it is for your business to function and we’re there stretching our hands to support you in your tax compliances. Our staffs are working remotely to address your questions, call us or write to our help desk.
U.S. Small Business Administration Administrator Jovita Carranza and U.S. Treasury Secretary Steven T. Mnuchin issued the following statement regarding the success of the Paycheck Protection Program (PPP) “The Treasury Department and SBA launched the unprecedented Paycheck Protection Program in just one week. Following its launch, the SBA processed more than 14 years’ worth of loans in less than 14 days, which will protect a vast number of American jobs. The PPP enjoyed broad-based participation across the country from lenders of all sizes and a wide array of industries and businesses. From its start on April 3, PPP provided payroll assistance to more than 1.6 million small businesses in all 50 states and territories. Nearly 5,000 lenders participated in this critical program, including significant lending by community banks and credit unions. Nearly 20% of the amount approved was processed by lenders with less than $1 billion in assets, and approximately 60% of the loans were approved by banks with $10 billion of assets or less. No lender accounted for more than 5% of the total dollar amount of the program.
“The vast majority of these loans—74% of them—were for under $150,000, demonstrating the accessibility of this program to even the smallest of small businesses.
“The PPP provided funds to a wide variety of industries in all sectors of the economy, including construction, manufacturing, food and hospitality services, health care, agriculture, and retail, among many others. This demonstrates the broad diversity of PPP and its support for American workers across the board.
“The Paycheck Protection program is saving millions of American jobs and helping small businesses get through this challenging time. We urge Congress to protect millions more American workers and their families by appropriating additional funding to support PPP.”
We encourage all our clients and customers to take the health risks posed by COVID-19 seriously and follow the advice of WHO and guidance issued by national and local health authorities. Also, promote regular teleworking across your organization that will help your business keep operating while your employees stay safe.
We have developed a contingency and business continuity plan during an outbreak of COVID-19 to ensure all our resources are at your assistance for your federal tax e-filing needs. If you have any questions, please feel free to call our Help Desk at 1-866-245-3918 or email us at email@example.com or use the live chat support available on the website. We’re available on all Business days between 9:00 AM to 6:00 PM Central Time.
Though the IRS Offices are not operational, their E-file services are online and tax returns are currently being processed within minutes. April 30 is the due date for 1st Quarterly Federal Excise Tax returns (IRS Tax Form 720).