Excise taxes are taxes paid when purchases are made on a specific good, such as gasoline/fuel. Excise taxes are often included in the price of the product. There are also excise taxes on activities, such as on wagering or on highway usage by trucks. One of the major components of the excise program is motor fuel. Excise taxes are also included with the service offered like air transportation and communication, environmental services, building a truck etc.
These excise taxes are collected and paid as monthly deposits with the revenue authorities. All these collected taxes and volume of sale along with the deposits made are reported in IRS Tax Form 720 at end of a Quarter as Quarterly Federal Excise Tax.
These quarterly federal excise tax returns can be prepared and reported by yourself with the IRS using http://TaxExcise.com an IRS Authorized e-file provider. Preparing your quarterly return is easy, simple and fast. You just need to answer the interview questions that we ask in our website to complete the tax return. Does not required to have complete tax knowledge to prepare your returns, we do the tax math automatically by applying the appropriate tax rates. You can just electronically transmit/submit the return with the IRS for processing and receive back the acknowledgement in just minutes.
If you have a claim or owe back a refund you can use the Schedules (A,C or T) accordingly to adjust with the liabilities. Electronically preparing an excise tax return is easy, simple and fast as stated earlier and it is economic and inexpensive too. We charge $49.99 for a single excise tax return. Electronic filing is easy for record keeping too, you can pull out your returns any time you need it and from anywhere.