Federal Excise Taxes are reported quarterly and many businesses that owe tax on goods or services that comes under excise tax has to report and pay to the IRS. This Federal Excise Tax can be prepared and reported online at TaxExcise.com, the only IRS authorized electronic filing service provider to support Excise Tax forms at one place.
3rd Quarter Excise Tax – October Deadline
The Federal Excise Taxes are reported quarterly and this time it is due for the 3rd quarter (July, August and September) filing, and October 31 is the deadline. If your business engages in certain types of industries or sells certain types of products or services, you might be responsible for excise taxes on these transactions and activities. An excise tax is an indirect tax, meaning it isn’t directly paid by the consumer of the product. Often, the tax is included in the price of the product or service, as with a service like indoor tanning service or with a product like Fuel. Businesses that sell products or services subject to excise tax are responsible for collecting the taxes and sending them to the IRS. The 3rd Quarter return is now due and October 31 is the due date.
Electronic Filing for Federal Excise Tax Returns
The IRS authorized provider TaxExcise.com, offer a process for electronically filing federal excise tax returns. In general, quarterly excise tax form 720 can be filed electronically or manually. You can e-file Form 720 through TaxExcise.com, the top rated website for all excise tax forms.
Form 720, the Quarterly Federal Excise Tax Return, is used to report and on excise taxes collected by the business for a variety of products and services. Use Schedule A to show the amount of your total liability for excise taxes for the quarter. Form 720 includes several pages of excise taxes which your business might have to pay and the rate. You would need to add up all the possible taxes in order to calculate a payment.
All this steps are automated, you just need to enter the type of tax you owe and the quantity, the website will automatically do the math and shows you the estimated tax owe to the IRS. E-file helps excise taxpayers file their tax returns faster, easier and more accurately than with traditional paper forms. We offer full featured online tax software at a significant discount to frequent filers and returning filers.
Come be part of our fastest and best electronic filing solution for Federal Excise Tax reporting at TaxExcise.com. Top rated and convenient filing option available digitally. Talk to us at 866 – 245 – 3918 or write to us at firstname.lastname@example.org for more information on Excise Tax reporting.