Quarterly Federal Excise Tax eFiling

Federal Excise tax is referred to indirect type of taxation imposed on the manufacture, sale or usage of certain type of goods and products. However, excise taxes are included in the price of the product, such as cigarettes or alcohol, also included in the price of an activity, often gambling. They are imposed by both […]

Electronic Filing for Federal Excise Tax Form 720

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, and in some ways resembles a state sales tax. Excise taxes are taxes paid when purchases are made on a […]

Reminders for Form 720!

1. IRS Form 720 is Due This April for 1st Quarter 2014 Excise Tax reporting 2. Tax on seasonal flu vaccines. Sales of all vaccines against seasonal influenza are now subject to the section 4131 excise tax at the existing rate of $.75 per dose of taxable vaccine. Previously, only trivalent influenza vaccines were subject […]