Understanding the Form 1099-Misc

The IRS 1099 Misc form needs to be filled out if you have certain, specific types of what is called miscellaneous payments to non-employees, like independent contractors.

Exemption of Trucks From Filing Highway Heavy Use Tax 2290

Heavy Vehicle Use Tax, which is also known as HVUT can be defined as the annual fee taken from heavy vehicles for their transportation on public highways.

2290 IRS Tax Form - Read Out the Concept and Understand the Need

Form 2290 or 2290 IRS tax form or Heavy Vehicle Use Tax are all same and all the terms represent the standard form of Internal Revenue Service (IRS)

The Different Payment Options That Are Available For IRS Form 2290 eFile

Being a truck owner in the USA, it’s a self-responsibility to declare the tax returns for the usage of the heavy vehicle trucks in the highways.

Thursday, 11 December 2014

Different Tax Form 1099 Demands Reporting Of Different Types Of Income

As the tax season is fast approaching, the tax form 1099 will also be in reckoning for the taxpayers to take into account. There are different forms of 1099 as structured by IRS to demand reporting different types of their income.IRS distinguish the different types of income by employing this tax form 1099 to ascertain the one’s income is from the regular job or through other sources. Hence this form 1099 assumes greater significance and thus it has a different sourced heading as 1099-INT, 1099-C.1099-S, 1099-MISC, and even transactions between federal and state holdings. Interest received from banks from deposits made are issued with 1099-INT.

If one fails to repay loans to banks and institutions and then being sanctioned forgiveness for write-off the loan is always considered as an income then the failed candidate is issued with 1099-C. The Income proceeds from real estate transactions attract 1099-S.

A regular job has always fetch you a w-2 issued from your employer and when one does not get it then the tax form 1099 will be issued to you by the payer responsible for utilizing your services and that the amount value should be over $600.

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Once the service bill over $600 attracts IRS tax form 1099 from service provider then one must keep up it with the tax records for matching it to entries made in the tax form. One has to report or show IRS the correct and exact receival of payments for the services made even when they do not receive tax form 1099 and as not exactly with the correct amount paid from service provider. 

This is only to help one’s cause to overcome unnecessary hardships in terms of IRS intervening in the process and penalizing. The payer or service provider who offers you a service should send a copy of the form 1099 to IRS and so it makes easy for IRS to track you in case if you could not provide one and also try to hide the service amount as received.
For this tax season rely on http://www.Etax1099.com for all your 1099 tax filing requirements.

Friday, 17 October 2014

When Are 1099 Forms Due and What are the Late Filing Penalties?

A form 1099 is an information return and is a tax form that you get in the mail if you have received certain types of income during the previous tax year. The information your receive will have to be placed on your tax return. A 1099 is very similar to a W-2 but where a W-2 reports any wages, salaries, and tips earned, a 1099 reports all the other kinds of income you may receive as well. There are many different types of 1099 forms and each one is used to report different types of income.

When Should I File my 1099 IRS Form?

The deadline for employers to mail out W-2s and send form 1099 statements to their employees and for their business is January 31. The deadline for financial institutions to mail out their 1099 forms is February 18. The deadline for businesses to mail their 1099 forms in is February 28 if doing it by paper and April 1 if doing it electronically. In order to file your forms electronically you will need to have a specific software that will generate a file that you can use to submit everything you need online.

What are the Penalties for Filing Late?

If you fail to file your 1099 electronically on time then you may be subject to a penalty per return unless you can provide a good reason why you missed the deadline.

You can also receive penalties for:

·         Failing to include all the information that is required
·         Filing your 1099 with false information
·         Filing your form on paper when you should be filing it electronically
·         Reporting an incorrect tax identification number (TIN)
·         Not reporting your TIN
·         Filing paper forms that are not readable by the machine

The amount of the penalty is based on the time you file your forms with all the correct information. The penalty is typically:

·         $15 per information return if you file the correct information within 30 days of the due date. For small businesses the maximum penalty is $25,000 and for individuals it’s $75,000.

·         $30 per information return if you file the correct information more than 30 days after the due date but by August 1 of that year. For small businesses the maximum penalty is $50,000 and for individuals it’s $150,000.

·         $50 per information return if you file after August 1 or you do not file the required information on your returns. For small businesses the maximum penalty is $100,000 and for individuals it’s $250,000.

One of the easiest and most efficient ways to prepare your tax return is by filing your forms online with an online tax software. You don’t have to worry about figuring out how to file form or where you need to put what number because the software will guide you through the entire process telling you where to find what information and what each box means in regards to your taxes. So when getting ready to file your federal 1099 form online make sure you have all the correct information and you meet the deadline for filing.  

Visit The IRS Authorized Efiling Partner Etax1099.com for Hassle free Filing of Form 1099

Wednesday, 30 July 2014

Like IRS Tax Strictures Towards Form 2290 For Truckers, FMCSA Form Safety Compliance Structures

Truckers should e-file form 2290 tax returns this tax season before or on the specific due dates and it is the federal order from IRS and similarly the CSA-Compliance Safety Accountability program as introduced by Federal Motor Carrier Safety Administration (FMCSA) four years ago is equally to be adhered by the drivers of commercial heavy motor vehicles and fleet-owners of transporting industry as a whole. 

But FMCSA findings through Commercial Vehicle Safety Alliance show that there is a low awareness rate among the drivers about the following of the basic rules. Hence the drive through road check by CVSA law enforcement officials normally helped in increasing the awareness rate year after year as the in-person checking of commercial motor vehicles and conversations with drivers brings in a good inter-action for imparting the basic guidelines for safety not only for drivers but also for all the users of national highways to prevent any untoward accidents. 

The accident death rates have been lowered due to this stringent exercise by CVSA in association with FMCSA in pursuing the CSA basic instructions.

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The CSA instructions stress on safe driving for drivers to be responsible without rash and reckless unsafe driving. The drivers should follow HOS-hours of service through electronic logging devices (hours of service guidelines are given to truckers for necessary action), as this only helps them to overcome fatigue and illness while driving on duty on the highways.

The CSA instructions to drivers are to be followed-up strictly, also equally is the adherence to the instructions given to commercial motor vehicle with regard to overcome OOS-out of service violations due to CVSA inspectors considering imminent safety hazard. The often sore parts of commercial heavy vehicle are the brakes and tires which should be maintained and conditioned and CVSA through FMCSA advise truckers and fleet-owners to use the best manufacturers’ brands in order to be complaint with the Compliance Safety Accountability-CSA.

Now truckers while adhering to Compliance Safety Accountability for their sustained transporting business should also e-file form 2290 tax returns by 1st July 2014 through IRS tax partner and certified service provider Etaxform2290.com     

Monday, 7 July 2014

Operation safe Driver Program Always Needs Co-operation From Truckers and Drivers

Commercial Vehicle Safety Alliance - CVSA has laid out various safety programs for commercial vehicle drivers and fleets, teens and trucks and the program is basically formulated to avert untoward accidents on national highways of North America.  The estimates from CVSA show that 40,000 people die because of serious accidents happening primarily due to unsafe driving practices by both passenger and commercial heavy vehicle drivers. Hence this Operation Safe Driver program is aimed at to reduce the number of deaths resulting from crashes involving large trucks, buses and passenger vehicles.

Operation Safe Driver program is very active by holding activities across the United States, Canada and Mexico that aim to increase and implement commercial vehicle and non-commercial vehicle traffic enforcement; safety belt enforcement; driver roadside inspections; driver regulatory compliance; implementation of commercial driver educational and awareness programs to the motor carrier population; and, awareness to the motoring public about safe operations around commercial motor vehicles.

According to CVSA sources “There are 9.4 million kids between the ages of 16-24 driving on the highways. They make up only 4.7% of the total number of licensed drivers, but are involved in 10.1% of fatal accidents and in 13.5% of all accidents”.

For the right of passage on the national highways the driver’s license is compulsory as many teens know and wait anxiously to apply and to get a driver license. They would feel this as a great sense of freedom as being young and first timers with a freaky adventurous upbeat mood that will make them to drive with friends, speeding, aggressive and other distracted driving behaviors and one can see how this rite of passage puts teens on a one-way road to increased risk. 

Therefore in order to protect the safety interest of the teens that drive around the large commercial heavy vehicles on the highways, CVSA has partnered with Arizona Trucking Association and with American Trucking Associations and developed a program to help educate teens about safe driving practices around commercial vehicles. 

For commercial heavy vehicle drivers and fleets that always run on the national highways, the CVSA is keen on certain safety program on avoidance of various in-truck distractions that cell phones, CD players, eating and other activities that may pose direct or indirect problem to avert drivers’ constant attention of the roads. Hence it is important for CVSA for using tools like Defeating Distracted Driving to raise awareness of this significant safety problem. 

More than the CVSA guiding safety awareness programs including Operation Safe Driver, the trucking and fleet-owner community must respond positively through better co-operation in order to pave way for a smooth and safe journey on national highways. Equally it is also important to respond to IRS for e-filing your tax return form 2290 for this tax season 2014- 2015 through IRS tax partner and service provider http://www.Etax2290.com 

Tuesday, 6 May 2014

IRS 8868 Support Form To Support Cause Of Non-Profits And Tax –Exempt Organizations

Form 8868 is structured by IRS in a way of extension support given for 6 months to nonprofits and tax-exempt organizations in two different ways with an interval with part-1 of the IRS form 8868 supports for automatic extension for 3 months and the part-2 of the IRS form 8868 extends another 3 months conditional not automatic. There is an interval between part-1 and part-2.

Only when the part-1 as applicable with the automatic extension of time for 3 months is not enough for non-profits and tax-exempt can request through a fresh form of 8868 for part-2 as conditional extension of 3 months which is not automatic. The corporations involved in charities who required filing 990-T and coming under form 8868 as per IRS gets automatic extension of time for 6 months. Each form that represent under this 8868 should file request for extension time separately with each IRS form 8868 and no blanket requests are allowed by IRS.

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The forms that come under 8868 are assigned with a separate return code which needs to be filled-in the field given corresponding to return code applying for extension time for both part-1 as automatic and part-2 as not automatic. The forms as covered under 8868 are 990-BL, 990-or 990-EZ, 990-PF, 4720, 990-T, 1041-A, 5227, 6069, and 8870.These forms will be explained in brief and in context with form 8868 in our blogs for 8868.

In the same way the individuals representing exempt-organization filing this IRS form 8868 need to fill in their Social Security Number-the SSN in the given field as identifying number and others should fill-in their Federal Employer Identification Number and both fields should not be filled-in to-gether in a form 8868.

IRS form 8868 electronic filing as available for Non-profits and Tax-exempt organizations effective January 2011 excepting form 8870 can be filed electronically requesting for the time of extension for both part-1 as 3 months automatic extension and for part-2 as additional time of extension for 3 months which is not automatic through the IRS certified partner ETAX8868.com for fast and reliable response.

Please do not request Part-2 of 8868 for additional extension time unless non-profits and exempt-organizations have been already granted with part-1 automatic extension of time for 3 months. Use separate fresh form of IRS 8868 for those who wish to take-up additional extension time when part-1 automatic extension time of 3 months is not enough.

Corporations who are required to file 990-T only can get an automatic extension of 6 months through this form 8868 can now e-file with IRS certified service provider http://www.ETAX8868.com 

Sunday, 13 April 2014

Access Form 4868 To Recess The IRS Normal Due Date For Filing Individual Federal Income Tax Returns

The normal due date for filing federal income tax returns is mandatorily set as April 15th 2014. If this is not favorable due to tax documentation and receipts are not in order for an individual, then one can file IRS form 4868 to recess the normal due date by extending with this extension form 4868 for 6 months more from April 15th 2014. The requirements are always simple before filing form 4868 - 

A) An individual has to provide SSN with personal details of address and name with taxpayer id number of spouse.

B) A copy of individual tax returns of 2012

C) Tax payments made in 2012

Source: Flickr

If an individual situation of income and expenditure towards tax paying is not much changed in years then one can use 2012 tax return to estimate the tax liability to use form 4868 for automatic extension of time for 6 months from April 15th 2014. An individual can find total tax liability as per 2012 year on line 60 of form 1040 and line 37 for 1040-a and line 11 for 1040-ez and an individual can subtract for any tax payments made throughout the year and can report any balance of tax due payment on line 6 of form 4868 for filing an extension of time.

Here-in IRS mentioned in their instructions for different individuals with the structured minimum earnings within USA or abroad and who are supposedly should come under IRS regulations for paying federal income tax- they are as follows (as sourced from IRS) -

The gross amount mentioned by IRS as represented in chart is inclusive of money, goods, property, gifts and services that is not exempt from taxes. The above mentioned filing status people can file IRS form 4868 for an automatic extension of time for 6 months if they could not do so within the normal given due date as April 15th 2014.

In this matter of filing IRS form 4868, it is better for the mentioned status of people to pay at least 90% of tax dues during the course or along with form 4868 to overcome the penalty from IRS. Now one can access e-file form 4868 conveniently through with home-computers resting from their comfort of home by safely securely and with the able tax guidance of IRS certified service provider http://www.Etax4868.com   

Tuesday, 25 March 2014

IRS Form 7004 Busincess Tax Extension Form - Privilege Or Purpose?

It is indeed a strange coincidence that all IRS forms need to be filed on or before due dates, but then why the existence of the support and importance of forms like IRS form 7004 give-in the privilege for the automatic extension of time? In business, in times when it is good we follow the strictures and rules and when in unfavorable conditions we deviate the rules. 

These shows the ups and downs of business which then fails to submit to the rules and it is for this reason IRS laws are structured to give an extended arm of support with the form 7004 for those failing. However one should understand that this is no privilege but with a purpose. The privilege is the automatic extension of time through IRS form 7004 to file income tax returns of business and the purpose is to make them pay the tax by form 7004 online facilitating them with automatic extension of time with some interest and penalty. 

This would exhibit as just like a loan that an individual and business may avail at a certain cost of interest from Government as they do with banks or outside source, but there they have to pledge something as security. Here we as individual and businesses of many categories stand as a security and pledge for the nation’s good cause.

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This is to be understood in contrast since taxpaying based on income brings in integrity to self and this would give scope for recognition and opening up of new avenues to bring in financial strength that banks and other people can participate as shareholders to further develop a conducive atmosphere towards a good economy that IRS propagate by the importance of tax paying and also gives give some extended time for tax collections with some reasonable interest and penalty so that nation may prosper through economic and infrastructure developments which would only benefit the citizens. 

Not every individual who earn big money can take-away all to his needs for comfort living, this is where the Govt.through IRS has spread the wings to bring in lot of tax money that would feed society, community, and a country which goes to prove that sharing resources would make a country good and big for the welfare development of their population.

Live with good money and share your money through taxes and avail IRS form 7004 online when in need by e-filing through IRS service partner http://www.Etax7004.com

Wednesday, 12 February 2014

Common Questions Regarding E-Postcard Form 990N

Are you the head of a non-profit looking for some answers about e postcard form990-n? If so, you have come to the right place. This document, simple and easy as it might be, is very important when it comes to maintaining your organization's 501(c)(3) status. Here is a list of commonly asked questions about the form itself as well as how to file it.

What information is required to complete form 990-N?

Anyone completing form 990-N needs to collect a few simple pieces of information. These include your organization's tax ID number, a physical address and name for your organization, the name and address of a principal officer, confirmation that your organization's gross receipts totaled under $50,000 for the fiscal year, a website address if you have one, any other names your organization goes by, as well as a written statement saying that you are going out of business (if applicable).

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When is form 990-N due?

The 990n postcard filing must be completed no later than the 15th day of the fifth month following the end of your organization's fiscal year. Because these dates vary from company to company, there is no one single set date.

What happens if I don't file?

If you miss your due date once, it usually is not a big problem. The IRS will send you a reminder, and you can file your e postcard form 990-n at that point. However, if you have failed to file your form for three consecutive years, your organization's tax-exempt status will automatically be revoked, and you will have to reapply for this status.

How will I know if my form was accepted?

The IRS will send you a confirmation E-mail stating that your 990n post card filing went through successfully.

Can I paper file instead of doing it electronically?

Unfortunately, there is no paper form of the e postcard form 990-n, so you must complete your filing online. The easiest way to do this is by using an online service such as etax990n.com, which not only allows you to file your form but also provides 24/7 customer support and free re-filings if the initial form is rejected.

Can I file for previous fiscal years?

Yes. Systems such as etax990n.com will allow you to file forms for up to 2 tax years prior, helping you get caught up on your filings.

How long will it take for my form to show up at the IRS search site?

After you complete your 990n postcard filing, it may take up to three weeks for it to show up on the IRS search page.

What is the point of form 990-n?

The reason for filing form 990-n is to give your donors and other interested parties a way to see the most up to date information available regarding your organization's earnings. It provides a form of transparency.

How long does it take to file form 990-n?

Not to worry – from start to finish, it will only take about 15 minutes of your time, as long as you have all of the information assembled before you begin. If you run into any problems, simply contact customer support at any time for guidance or assistance. Visit http://www.Etax990n.com to start filing your non profit tax.

Tuesday, 11 February 2014

Benefits of Online Filing for Tax 2290

With many websites online offering aid, it has never been easier to file the tax form 2290 to the IRS. This tax form is for heavy highway vehicle use. It is a tax return form in which the due date revolves around the fiscal year starting on July 1st and ending on June 30th. There are of course some exceptions to this, depending on many factors. Those that must pay the tax and turn in the form are owners of these heavy vehicles that are over 55,000 pounds. They are used on the public highway regularly to transport anything, and the amount that is taxed varies among the different weights and maximum loads on different trucks.

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Times to File the Form

The qualified vehicles that are taxed include trucks, tractor trailers, buses, or truck tractors. Should any of these heavy vehicles exceed the 5,000 mileage usage limit on solely public highways, then the IRS form 2290 tax is due before the end of the fiscal year. It does not matter if there is a new owner of the vehicle; any particular vehicle has its own timing on the mileage whether or not it has multiple owners. The right time to file the 2290 tax online or on paper is for the month that the vehicle is first being used on public highways. The last day to file is the last day of that month. There are penalties and interest should the form not be filed on time that vary depending on how late the form is received.

Online Filing and Physical Filing

It is important to avoid penalty fees and any interest, especially when it comes to tax forms. They can appear to be daunting, but rest assured that there are tax professionals online providing software to make it easier for everyone. Filing the IRS form 2290 can be done physically through printing the form and mailing it in, or by filing it electronically through the IRS.gov website. By filing it online, you can get help from sites like ETAX2290. It is generally a safer, quicker, and less painful process. They can help you get through the form accurately and in on time. By submitting it online, they are also able to keep your records through your ETAX2290 account for as long as you need. Mailing the form is less secure and you are most likely going to be unable to keep an organized record of your files. Whether you have multiple taxable heavy vehicles or just one, through online filing you can put it all under one account.

When searching for aid in filing the 2290 tax online, the prices will vary depending on the amount of vehicles you own. Should you own over 25 taxable vehicles, you must file online regardless. For an example of prices, one vehicle would cost $19.99 through ETAX2290. Their prices are very reasonable and can aid you in preventing from incorrectly filing the IRS form 2290 and getting any penalties.

Sunday, 9 February 2014

How to File IRS-1099 MISC Online?

There are many business relationships in which a company pays an independent contractor or freelance worker for his or her services, yet this compensation is not a part of general wages due to the fact that this is not an employer/employee situation. If this applies to you, you will need to complete an IRS 1099 MISC form for your contracted workers. While the process of filing a 1099 MISC is not complicated, it can still be a headache for business owners who just want to hurry up and file their taxes and get back to business. If you are looking for an easy way to do just that, you should consider making the decision to file 1099-MISC online.

The Simple Process of Filing Online

Whether you are a tax professional or business owner, the process filing IRS 1099 MISC online is very simple when you use a service such as Etax1099.com. After you create your account and login, you add your payer's details, enter the tax information, add your payee's details, and submit your forms to the IRS. One of the benefits of using Etax1099.com to file 1099-MISC online is the fact that you don't have to enter your information over and over for multiple payees; instead, you can control them all from a single account and use cut and paste as needed.

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Etax1099.com Extras

When you file with Etax1099.com, you are not alone. We provide 24/7 customer service to ensure that you have assistance within reach any time of the day or night in case you run into a snag or have a question. Additionally, you don't have to buy or download any software, because the entire process is completed through our site online. With E-mail updates keeping you informed, there will never be a doubt as to whether or not your IRS 1099 MISC forms went through properly. Also, you can instantly print your forms for your payees as soon as your data entry is complete.

Different Account Types

Etax1099.com has you covered, no matter if you are a professional tax preparer or a business owner. With support for unlimited numbers of businesses and special discounts for bulk filings, tax professionals can be certain that they are filing for the best price and getting the best services around. Business owners likewise can file an unlimited number of IRS 1099 MISC forms using Etax1099.com, and the support, rates, and user friendly interface is perfect for seasoned filers and newbies alike. If you don't want to bother with entering your tax information, you can also send us all of your info and we will enter it for you with the premium service package.

Everyone knows that dealing with the IRS can be a hassle at best and a nightmare at worst. Why not take advantage of online filing and make the whole process a little less difficult? You will be glad you did, as will your payees. From start to finish, Etax1099.com will get your 1099 forms completed and submitted so you can get on with more important matters.