Are you responsible for collecting, any of the federal excise taxes listed on Form 720? then this is a last minute alert for your to work on your Form 720, Quarterly Federal Excise Tax Reporting for 2nd Quarter of 2019.
In other words, if you own a business that deals in goods and services subject to excise tax, you must prepare a Form 720 quarterly to report the tax to the IRS. 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.
Electronic Filing for Federal Excise Taxes
The foremost is IRS could receive your returns and process it faster than any other way of filing. Choosing online filing or electronic filing eliminated all possible human errors that could happen in a tax return. Let see some of the larger benefits of e-filing Form 720 returns.
- Faster Processing – e-filed returns are processed much faster than paper filed returns.
- Convenience – available online 24 hours a day, 7 days a week.
- Ease of use – user friendly, with step-by-step instructions and clear screens indicators to walk you through the filing process. E-file is a cake-walk
- Greater Accuracy in Processing – accurate tax calculation based on the entries you make and will not sent an incomplete return to IRS.
- Pay Right – while you e-file you pay the tax that you owe not extra or less.
- Electronic Payment – convenience of direct withdrawal of tax due and EFTPS option to make payments.
- Less Hassle, No Mails – no mailing of paper returns and waiting for mails for weeks, everything is managed electronically and digitally.
- Security – safer than mailing your tax return and sent right to the IRS server no more data loss.
- Avoid paying extra – when you e-file you can make sure your return reaches them well in the time frame no late penalties or late filing charges.
- No more typos – while you e-file you won’t get typos such us 1 for I or 0 for o 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.
3 Simple Steps to complete your Quarterly Federal Excise Tax Form 720. July 31 is the Due Date for 2nd Quarter Filing…