Form 2290 that pertains to the heavy vehicle use tax, allows the vehicle owners to pay for the taxes of the vehicles. If the vehicle is stolen, sold, or destroyed during the tax year, then it is possible to claim credits on the tax paid on the vehicle with the help of Form 8849. The amount that will be repaid will depend on the incidence, whether the vehicle was destroyed, sold, or stolen. But the claim made...

Concerning the ongoing coronavirus pandemic, the President of the United States has issued an emergency declaration on March 13th, 2020 with regards to the relief in the tax deadlines of Americans, who have been affected by the pandemic. According to this notice, the taxpayers are offered certain relaxations concerning the Federal tax payments and Federal tax returns under section 7508A of the Internal Revenue Code. Section 7508A renders the secretary of the Treasure to postpone the time...

Entrepreneurs may be busy with so much on their plates as tax return deadlines are approaching. The IRS has started and swarming by accepting tax returns for 2020. It is a perfect time to ensure if you are aware of the deadlines approaching for tax filing.  Businesses have many categories, and hence navigating in detail and completing the tax return process is an ideal choice. Here are a few details about the business and their extension due...

Tax deadlines are creeping up to you, So filing a tax extension is the right choice. The due date for filing an individual tax return for 2020 is May 17, 2021. Your deadline is until mid-July for payment of taxes without penalties. People busy with a family emergency, school, travel, etc. can request a file extension for up to six months. A tax extension is possible by filing form 4868 to the IRS. When to file a...

Tax due dates for various Business types in 2021 S-corporation tax returns on IRS Form 1120- S:15thMarch, 2021 C-corporation tax returns on IRS Form 1120: for year-end corporations, the due date is 15th April 2021. Partnership tax returns on IRS Form 1065 along with the Schedule K-1s: 15th March 2021 Single-member LLC and Sole Proprietorship returns on the Schedule C: 15th April 2021 Tax Extension Due dates for Business Tax Returns in 2021 S-corporation tax extension due date...

The 1040 tax form is used for personal federal income tax returns filed by US citizens and also helps to determine the total taxable income of the taxpayer and find out how much is to be refunded by the government. The IRS reported the individual federal income tax filing deadline is extended from April 15, 2021, to May 17, 2021, for the 2020 tax year due to pandemic. Individual taxpayers can also reschedule federal income tax payments...