#eftps

[joehills]

Self-employed American artists, pay your quarterly taxes!

They're due Monday, but I don't wanna stress about it all weekend so I just scheduled my payment now

[taxbandits]

How to Make EFTPS Payments Using TaxBandits: A Step-by-Step Guide

For businesses responsible for paying federal taxes, the Electronic Federal Tax Payment System (EFTPS) offers a convenient way to submit payments electronically. While the IRS provides its own EFTPS system, using a comprehensive tax solution like TaxBandits can simplify the process even further. In this article, we’ll walk you through how to make EFTPS payments using TaxBandits, ensuring that your tax payments are submitted accurately and on time.

Why Use TaxBandits for EFTPS Payments?

TaxBandits offers a seamless and integrated platform to manage your tax obligations, including EFTPS Online payments. By using TaxBandits, you can:

Save Time: Automate payment submissions without the need to re-enter data each time.

Minimize Errors: Integration with your payroll and accounting systems reduces the chances of manual errors.

Stay Compliant: TaxBandits keeps you up-to-date with tax laws and deadlines, so you never miss a payment.

With these benefits in mind, let’s dive into how you can make your EFTPS payments using TaxBandits.

Step 1: Log in to Your TaxBandits Account

Before you can make EFTPS payments, you’ll need to have a registered TaxBandits account. Once logged in:

Go to the Dashboard: The dashboard provides a summary of your account, including any upcoming tax deadlines.

Access the EFTPS Section: Navigate to the EFTPS payment section from the main menu to begin the payment process.

Step 2: Set Up Your EFTPS Account in TaxBandits

If this is your first time making an EFTPS payment through TaxBandits, you’ll need to set up your EFTPS account. This includes:

Employer Identification Number (EIN): Provide your business’s EIN, which is required for making federal tax payments.

Banking Information: Input the bank account details from which the payments will be debited. Ensure that the account has sufficient funds for the tax payment.

PIN and Password: If you already have an EFTPS account registered with the IRS, you’ll need to enter your unique PIN and password to authorize payments through TaxBandits.

Once your account is set up, it will be securely stored for future payments, so you don’t have to re-enter these details again.

Step 3: Select the Tax Form and Payment Type

TaxBandits simplifies the process by automatically populating tax payment information based on your payroll data. Here’s how:

Select the Type of Tax: Choose from the list of federal taxes you need to pay. Common payment types include:

Income tax withholding (Form 941)

Social Security and Medicare taxes (Form 941)

Unemployment tax (Form 940)

Estimated tax payments (Form 1040-ES)

Enter the Payment Amount: TaxBandits will automatically calculate the payment amount based on the data in your account. However, you can manually adjust the amount if necessary.

Verify Payment Codes: Each tax payment type requires a specific payment code, which is automatically assigned by TaxBandits. This ensures that your payment is applied to the correct tax type and period.

Step 4: Schedule Your Payment

With TaxBandits, you have the flexibility to schedule your payments in advance, ensuring that you meet all IRS deadlines without hassle:

Choose a Payment Date: You can select the date you want your payment to be processed. TaxBandits allows you to schedule payments up to 365 days in advance.

Set Up Recurring Payments: For businesses with regular tax obligations, such as payroll taxes, you can set up recurring payments to avoid the risk of missing a deadline.

Step 5: Review and Submit

Before submitting your payment, it’s essential to review all details to ensure accuracy:

Payment Summary: TaxBandits will display a summary of your payment details, including the tax type, amount, and scheduled date.

Verify Bank Information: Double-check your bank account details to ensure the payment will be debited from the correct account.

Submit the Payment: Once you’re satisfied with the details, click “Submit” to process the payment. TaxBandits will securely transmit your payment to the IRS via EFTPS.

Step 6: Receive Confirmation

After submitting your payment, you’ll receive an instant confirmation:

Email Notification: TaxBandits will send you a confirmation email with a unique reference number for the transaction. This serves as proof of payment.

Payment Tracking: You can track the status of your payment in the TaxBandits dashboard to ensure it has been processed by the IRS.

Step 7: Access Payment History and Reports

One of the advantages of using TaxBandits is its comprehensive reporting tools. After making your EFTPS payment, you can:

View Payment History: Access a detailed history of all past EFTPS payments made through TaxBandits, including dates, amounts, and payment types.

Generate Reports: Download reports that can be integrated with your accounting system, making it easier to reconcile your payments and file accurate tax returns.

Why Choose TaxBandits for EFTPS Payments?

By using TaxBandits for EFTPS payments, businesses can streamline the federal tax payment process while minimizing the risk of errors and missed deadlines. Some additional reasons to consider TaxBandits include:

Seamless Integration: TaxBandits integrates with popular payroll systems, allowing for accurate tax calculations and automated payments.

User-Friendly Interface: The platform is easy to navigate, with guided steps for each part of the payment process.

Security: TaxBandits uses advanced encryption and security measures to ensure your financial and tax information is always safe.

Conclusion

Managing federal tax payments doesn’t have to be a time-consuming or error-prone task. By leveraging TaxBandits’ EFTPS payment system, businesses can ensure timely, accurate, and secure tax payments with minimal effort.

Ready to simplify your tax payments? Start using TaxBandits for EFTPS today and take the stress out of managing federal taxes.

[e-file-irs-form-2290]

EFTPS Online Tax Payment with eForm2290.com

The Electronic Federal Tax Payment System® (EFTPS) is a secure, free service provided by the U.S. Department of the Treasury, allowing businesses to pay federal taxes, including HVUT via Form 2290. Available 24/7, EFTPS enables advanced scheduling of payments, up to 120 days for businesses and 365 days for individuals. Using EFTPS with eForm2290.com ensures secure, timely payments with robust protection for your financial information. To enroll, visit www.eftps.gov, complete the registration, and receive a PIN and bank verification by mail. Once enrolled, log in to your EFTPS account to make and schedule payments conveniently.

For more details, visit EFTPS Payment Instructions for eForm2290.com

[flyeatspeople]

I took a break on my Deadfire replay to let my sister play Avowed on my PC and I already miss Eora....NG+ update cant come sooner ;;

[bonnielunkas]

hey hi this sounds insane but will you please elaborate on the au you were just telling calico about I just saw it on my dashboard that sounds so fucking cool I :3 I've never spoken to you in my life but 🙏🙏🙏🤝🤝🤝🤝 big fan of faz frights aus you have no idea eye twitch insane insane insane /pos hii 🐱🐱🐱

hiiii!!! ^v^ uhhhh i'm assuming that this is about eftp!! i'm gonna talk about it but if this isn't about eftp i am so sorry i am a little stupid. uhhh anyways LOTS of rambling under the cut here you go anon :3

right okay so eftp / escape from the pit is a post-epilogues au about a bunch of the characters that's?? mostly canon compliant?? outside of characters having relations that aren't canon whatsoever because i am silly like that. so uhhh there's two main groups of characters who get followed in the story, which are pit gang ( devon, millie, andrew and kelsey ) and the actually alive characters. ( larson, mick, shelly and oswald ) there's also some other characters off to the side doing their own thing ( hi connor hi chuck hi tabitha )

so like millie and devon know each other and millie dies before devon so devon specifically remembers millie NOT being in school for a while. and yet he's seen her around school the last few days and they realize shit's like really fucked up. and andrew shows up and goes " hey you guys need help " and dev and millie agree to take this random kid's help and they start going through ballpits around hurricane in order to get out of the ballpit. yknow from the epilogues. uhhh in the meantime kelsey!! relives the day they died initially because they're a ghost from the 80's and decides they finally wanna get revenge so they join up with the rest of pit gang to get outta there so they can all finish up their business.

MEANWHILE larson is still getting involved in freddy's shenanigans and is investigating a bunch of very weird paranormal events around town being caused by certain dead characters NOT in the ballpit he gets leads from other characters connected to them, and this is where mick and shelly, who are both currently in college, come in. oswald later gets involved too due to his relation to the ballpit. ( shelly only really gets involved because she wants to figure out what happened to reed. ) idk what their endgame is yet but i promise i will figure it out!! uhhh at some point they run into connor, chuck and tabitha and that's a nod to ANOTHER au i have ( not important ) and they help out but they're not a MAJOR factor.

jake?? is kinda like the main antagonist?? but only in the sense that he's doing something that's not really helping because he thinks it's what's best for everyone. giving them happy memories so they don't have to realize they're dead sounded like a good plan to him but also uhh... there's some holes in those memories ( like what happened with devon and millie ) and he doesn't?? really know that. really he's just trying his best

[bonnielunkas]

RIGHT RIGHT RIGHT OKAY SO devon and millie aren't really happy with the fact that they're being kept in the funny little ballpit since they both have some unfinished business ( millie wants to actually see her family again, devon wants to apologize to mick for making him keep all hush-hush abt kelsey's death ) and decide to go find a way out. uhhh andrew tags along with them to help them navigate and lets them know that jake's the one behind it and millie's like " wait that little brunette kid???? " and devon's like " YOU SAW HIM TOO???? " and they think they have a common enemy but andrew's like " no jake's just trying to help us have a nice afterlife i think " but devon's not really having any of it and he decides to go find jake and give him a piece of his mind ( he is like 10 devon is like 14. i love bullying kids /j ) meanwhile millie and andrew are like " that is. a really bad idea " but andrew doesn't try to stop him and millie can't really. do anything to stop devon and since these three are the pov characters in the ballpit most of the time jake gets framed as a bad guy by them ( devon ) for most of it when he's just?? trying to do what he thinks it best for the dead people

i love u eftp / escape from the pit / pit au........ < insane about own post-epilogues au where i make devon n millie and andrew and also kelsey all experience the fucking horrors in that ballpit while larson and mick and oswald all try to figure out what the fuck is going on in that ballpit ( oswald doesn't want to be here ) and chuck and connor and tabitha are all doing their own investigation too separate from larson and co. and jake is accidentally the main antagonist even though he's not really trying to do anything wrong he just wants to help everyone have a nice afterlife :[

THAT SOUNDS SO COOL ACTUALLY... I WANNA KNOW WHY JAKE IS THE ANTAG... TILTS HEAD

[truck2290com]

Is Filing IRS Form 2290 Online the Smartest Way for Truck Owners to Stay Compliant in 2025?

For truckers and heavy vehicle operators across the United States, staying compliant with IRS tax regulations is essential not just for legal operation, but for uninterrupted business. Among the most important forms required by the IRS is Form 2290, commonly known as the Heavy Vehicle Use Tax (HVUT) form. This document is mandatory for any highway motor vehicle weighing 55,000 pounds or more.

As we move deeper into the digital era, more and more drivers and fleet owners are discovering the convenience and reliability of online filing. But what does it actually mean to file Form 2290 online, and is it the best route for you in 2025?

Let’s break it down and help you decide whether online submission is the best choice for your tax needs this year.

What Is IRS Form 2290 and Who Needs It?

Form 2290 is a tax document used to report and pay the federal excise tax on heavy highway motor vehicles. If your truck or fleet vehicle has a gross weight of 55,000 pounds or more and travels over public highways, you’re legally required to file this form annually with the IRS.

Failure to file or pay on time can result in penalties, interest, and even restrictions on registration renewals from your local Department of Motor Vehicles (DMV).

Key Information Required for Form 2290 Filing

When you're ready to file, here’s what you’ll typically need:

Employer Identification Number (EIN)

Vehicle Identification Number (VIN)

Taxable gross weight of each vehicle

First month the vehicle was used on public highways

Number of vehicles you’re reporting

Note: Personal Social Security Numbers are not allowed for this filing—you must use an EIN.

Why Filing 2290 Online Is a Game-Changer for Truck Owners

Filing 2290 online is increasingly becoming the preferred method for truck drivers and fleet managers for several good reasons. Compared to manual filing, online submission offers speed, accuracy, and convenience.

Here are the key benefits of going digital:

Faster Processing: Get your Schedule 1 proof instantly—no more waiting for paper forms.

Accuracy Checks: Built-in tools reduce common filing mistakes that can lead to penalties.

24/7 Access: File at your convenience, even outside business hours.

Secure Filing: IRS-authorized e-file providers ensure your data is encrypted and protected.

Easier Recordkeeping: Save digital copies of your filings for future use or audits.

Whether you’re a single owner-operator or managing a full fleet, online filing saves valuable time and helps prevent errors that can cost you down the road.

How to File the 2290 Form Online

While many people hear “IRS” and think of long forms and red tape, online filing platforms make the process surprisingly simple. Filing the 2290 form online typically involves the following steps:

Create an Account: Register with an IRS-approved e-file provider.

Enter Business Info: Provide your EIN, business name, and contact information.

Input Vehicle Details: Add your VINs, weight categories, and mileage limits.

Calculate Tax: The system auto-calculates based on your inputs.

Pay the Tax: Pay via EFTPS, debit/credit card, or check/money order.

Receive Schedule 1: Once approved, you’ll instantly get your IRS-stamped Schedule 1.

Your stamped Schedule 1 is proof that you’ve paid the tax, and it’s necessary for vehicle registration with the DMV.

Bullet Points: Top Benefits of Filing IRS 2290 Electronically

✅ Instant Schedule 1 – Avoid long waits and last-minute stress

✅ Fewer Errors – Auto-verification and alerts reduce chances of rejection

✅ IRS-Authorized Providers – Ensures secure and accurate submission

✅ User-Friendly Platforms – No technical skills required

✅ Multiple Payment Options – Pay your tax the way that suits you best

✅ Environmentally Friendly – No printing, mailing, or paper waste

Common Mistakes to Avoid When Filing

Even with online tools, users sometimes make preventable errors. Avoid these pitfalls:

Filing under the wrong EIN

Mistyping the VIN

Entering incorrect weight categories

Using outdated forms or platforms not approved by the IRS

Forgetting to keep copies of Schedule 1

Taking just a few extra minutes to review your details can save you a lot of trouble later.

Who Should File Electronically?

While any truck owner who needs to file Form 2290 can benefit from online filing, these groups find it especially valuable:

Owner-Operators: Save time and focus on driving instead of paperwork.

Fleet Managers: Manage multiple vehicles from one platform.

Tax Professionals: Handle client filings efficiently and accurately.

New Truck Owners: Avoid confusion and get guided step-by-step through the process.

Final Thoughts: Should You File Form 2290 Online This Year?

Absolutely—if you're looking for speed, convenience, and peace of mind. Filing 2290 online is not just a modern solution; it's the most efficient way to meet your IRS obligations without hassle.

Whether you’re a first-time filer or have been paying HVUT for years, moving your process online is a small change that delivers big advantages. With accurate calculation tools, instant Schedule 1 delivery, and multiple payment options, electronic filing is designed to support you on the road—not slow you down. Choose a trusted IRS-approved e-file provider, double-check your vehicle and business details, and submit your form on time. Your peace of mind—and your Schedule 1—are just a few clicks away.

[unisonglobususa]

Employers Tax Calendar 2025—Stay Ahead with Key IRS Deadlines 

Managing tax deadlines effectively is critical for every employer. Late filings and missed payments can result in penalties, interest charges, and compliance risks. For North America-based CPAs, EAs, and accounting firms, helping clients stay ahead of their 2025 tax obligations is essential.

The IRS Employer’s Tax Calendar (Publication 509) outlines key deadlines for payroll taxes, estimated tax payments, reporting obligations, and business tax filings. Let’s break down the most important dates and compliance strategies for the upcoming year.

Key Employer Tax Deadlines for 2025

1. Payroll Tax Deposits: Monthly & Semiweekly Schedules

Employers must withhold and deposit federal income tax, Social Security, and Medicare taxes according to their IRS-assigned schedule:

Monthly Depositors: Taxes are due on the 15th of the following month.

Semiweekly Depositors: Taxes are due three banking days after payday.

Pro Tip for CPAs: Automate payroll tax deposits using the Electronic Federal Tax Payment System (EFTPS) to prevent delays and avoid penalties.

2. Quarterly Payroll Tax Filings (Form 941 & Excise Tax Filings - Form 720)

Q1 Deadline: April 30, 2025

Q2 Deadline: July 31, 2025

Q3 Deadline: October 31, 2025

Q4 Deadline: January 31, 2026

Employers must file Form 941 quarterly to report withheld taxes. Businesses subject to excise taxes must file Form 720 by these deadlines.

Compliance Tip: Help your clients review payroll records each quarter to avoid discrepancies that may trigger an IRS audit.

3. W-2 and 1099 Reporting Deadlines

January 31, 2025 – Employers must file W-2s (for employees) and 1099-NEC (for independent contractors) with the IRS and Social Security Administration.

March 31, 2025 – Electronic filing deadline for 1099-MISC and 1099-NEC.

Actionable Advice: Implement automated payroll and contractor payment systems to generate these forms accurately and on time.

4. Business Income Tax Filing Deadlines

Different business entities have varying tax filing deadlines:

March 17, 2025 – S Corporations (Form 1120-S) and Partnerships (Form 1065).

April 15, 2025 – C Corporations (Form 1120) and Sole Proprietors (Schedule C).

October 15, 2025 – Extended deadline for C Corporations and Sole Proprietors that filed for an extension.

Key Insight: Filing an extension doesn’t extend the payment deadline. Employers must estimate and pay taxes by April 15 to avoid penalties.

5. Federal Estimated Tax Payment Deadlines

For businesses and self-employed individuals, quarterly estimated tax payments are due:

April 15, 2025 – Q1

June 16, 2025 – Q2

September 15, 2025 – Q3

January 15, 2026 – Q4

Strategic Advice: Encourage clients to set up automated estimated tax payments to prevent cash flow disruptions and compliance issues.

How CPAs & Accounting Firms Can Help Employers Stay Compliant

Provide Proactive Tax Planning Regularly review employer tax obligations, ensuring compliance with changing IRS regulations.

Automate Payroll Tax Deposits & Reporting Encourage businesses to use EFTPS for payroll taxes and cloud-based accounting systems for real-time tax tracking.

Educate Clients on Filing Extensions & Penalties Make sure employers understand that filing an extension doesn’t extend their payment deadline, preventing costly surprises.

Offer Year-Round Compliance Support Tax planning shouldn’t be seasonal—help clients establish a rolling tax compliance strategy to avoid last-minute stress.

Final Thoughts

A well-structured employer tax calendar is more than just a compliance tool—it’s a roadmap for business stability. CPAs, EAs, and accounting firms play a crucial role in ensuring that businesses meet their tax obligations efficiently and accurately in 2025.

Need expert tax support?

Unison Globus offers tailored tax solutions for businesses, helping them navigate compliance with ease. Connect with us todayto streamline your 2025 tax obligations!

Key Tax Deadlines & Tips for Employers in 2025

Staying ahead of tax deadlines is crucial for compliance and avoiding penalties. Here are the important IRS deadlines for 2025, based on Publication 509:

General Tax Deadlines

📌 Jan 15, 2025 – Q4 2024 Estimated Tax Payment Due 📌 April 15, 2025 – Tax Day & Q1 Estimated Tax Payment Due 📌 June 16, 2025 – Q2 Estimated Tax Payment Due 📌 Sept 15, 2025 – Q3 Estimated Tax Payment Due 📌 Oct 15, 2025 – Extended Individual Tax Return Deadline

Employer Tax Deadlines

📌 Jan 31, 2025 – W-2 & 1099-NEC Submission Deadline 📌 Feb 28, 2025 – Paper Filing Deadline for 1099-MISC 📌 March 31, 2025 – E-filing Deadline for 1099-MISC 📌 April 30, 2025 – Q1 Payroll Tax Return (Form 941) Due 📌 July 31, 2025 – Q2 Payroll Tax Return (Form 941) Due 📌 Oct 31, 2025 – Q3 Payroll Tax Return (Form 941) Due

Excise & FUTA Tax Deadlines

📌 April 30, July 31, Oct 31, 2025 & Jan 31, 2026 – Quarterly Excise Tax (Form 720) & FUTA Tax (if liability exceeds $500)

Pro Tips for CPAs & Accounting Firms

Automate Payroll Deposits using EFTPS to prevent late fees.

Remind Clients about filing extensions NOT delaying tax payments.

Set Up Quarterly Compliance Checks to avoid last-minute issues.

Staying compliant is key to financial stability—plan ahead and stay on track!

Originally published on the Unison Globus LinkedIn page: https://www.linkedin.com/pulse/employers-tax-calendar-what-you-need-know-2025-unison-globus-kqwxf/

Disclaimer:

This article is for informational purposes only and should not be considered as tax, legal, or financial advice. Tax laws and deadlines may change, and employers should consult with a qualified tax professional or refer to official IRS guidelines for the most up-to-date information. Unison Globus is not responsible for any actions taken based on this content. For personalized tax compliance solutions, please contact our team.

[saicpa01]

Missed the Tax Deadline? Here's What to Do 

If you missed the April 2025 tax deadline, don’t panic—there are still steps you can take to minimize penalties and interest while getting back on track. Here’s a thorough breakdown to help you through the process. 

File Your Tax Return ASAP 

Even if you missed the deadline, filing as soon as possible helps reduce penalties. The Failure-to-File penalty accrues at 5% per month on unpaid taxes, up to 25%. If your return is more than 60 days late, the minimum penalty is $510 or 100% of the unpaid tax, whichever is lower. 

Pay What You Can 

Interest and penalties continue to grow until the balance is fully paid. If you can’t pay the full amount now, pay as much as possible to reduce future charges. 

Online Payment Options 

The IRS offers secure payment methods: 

IRS Online Account – Manage payments and view tax records. 

IRS Direct Pay – Pay directly from a bank account. 

Electronic Federal Tax Payment System (EFTPS) – Schedule payments in advance. 

Debit/credit card or digital wallet – Additional processing fees may apply. 

If you can’t pay in full, apply for a payment plan online to spread payments over time. 

Trouble Paying? IRS Offers help 

If you’re struggling to pay, the IRS provides options: 

Still file your tax return – Prevent additional penalties. 

Explore payment plans – Apply online for installment agreements. 

Instant responses – Taxpayers receive immediate approval or denial when applying online for payment plan.  

Payment Plan Options 

The IRS offers flexible payment plans: 

Short-term plan – For balances under $100,000, get up to 180 extra days to pay. 

Long-term plan – For balances under $50,000, make monthly payments (up to 10 years). 

Direct debit option saves on postage and reduces default risk. 

Extending payments increases penalties and fees. 

Reduced penalties for installment plans – The Failure-to-Pay penalty reduces while in an agreement. 

Penalty Relief 

If you receive an IRS penalty notice, review it carefully and follow instructions to request relief. 

First-time penalty abatement – If you’ve filed and paid taxes on time for the last three years, you may qualify. 

Administrative penalty relief – Learn more on the IRS website. 

Final Thoughts 

Missing the tax deadline isn’t ideal, but taking action quickly can help minimize financial consequences. File your return, pay what you can, and explore IRS payment options to stay compliant. 

Facebook: AjayKCPA   Instagram: sai_cpa_services   Twitter: SaiCPA   LinkedIn: Sai CPA Services   WhatsApp: Sai CPA Channel   Phone: (908) 380-6876  

    (908) 888-8900  

1 Auer Ct, East Brunswick,   NJ 08816 

[ekremdum-blog]

EFTPS: Revolutionizing Federal Tax Payments for Businesses

In the fast-paced world of business, managing taxes can feel like juggling flaming chainsaws. For entrepreneurs and professionals, the stress of ensuring timely payments, avoiding errors, and keeping track of deadlines often outweighs the simplicity of the task itself. Enter the Electronic Federal Tax Payment System (EFTPS), a game-changer that’s revolutionizing how businesses handle federal tax…

[joehills]

The EFTPS quarterly tax payment system got a login overhaul and no one warned me.

I tried to log in to EFTPS last night to pay my quarterly taxes and was surprised that they've revamped their authentication flow.

They now have three options for Multi-Factor Authentication, and I had to pick one and set that up before I could even get to the page to enter my EFTPS credentials.

The first option they have, PIV/CAC is only for federal employees, so that's not helpful to me.

The next two options for everyone else are login.gov and id.me.

I looked at both options and login.gov seemed easier to set up quickly (and they’re not a private company that collects biometric data), so I’m gonna recommend them.

If you like processes, I took notes on my steps:

1. Visit https://www.eftps.gov/eftps/

2. Click the “MAKE A PAYMENT” button

3. Wait for a new page to load with three login options

4. Click the “LOGIN.GOV” button

5. Wait for the Login.Gov|Treasury page to load

6. Click “create an account”

7. Enter your e-mail address

8. Select English

9. Accept the Rules of Use

10. Click Submit

11. Check your e-mail for a confirmation link

12. Load the URL from the confirmation link

13. Enter a secure password

14. Set up MFA with your preferred methods (app-dependent and out of scope for these instructions)

15. At this point, if you were quick enough, it might take you straight to the EFTPS traditional login page, which still requires your old EFTPS enrollment credentials. If not, head back to the EFTPS page and click MAKE A PAYMENT and use your login.gov credentials and MFA now.

I would strongly recommend setting that all up now, and not waiting until January 16th, as this will be the first tax deadline this system was in place for and we have no idea how well the servers can handle the load.

Until next time, y'all, this is Joe Hills from Nashville, Tennessee.

Keep quarterly estimating!

[counto-us]

Federal Excise Taxes for US Small Businesses: What You Need to Know 🇺🇸💼

If you’re a US small biz owner, knowing about federal excise taxes is a must! These taxes hit specific goods & services — think fuel ⛽️, alcohol 🍷, tobacco 🚬, air travel ✈️, and heavy vehicles 🚛.

Who pays? Importers, manufacturers, retailers, and transport companies usually handle these taxes.

How to stay on track: 1️⃣ Figure out which excise taxes apply to your biz 2️⃣ Register with the IRS if needed 3️⃣ File the right forms like Form 720 quarterly 4️⃣ Pay on time via EFTPS 5️⃣ Keep records for 4 years 📂

Excise taxes are just one part of the puzzle — don’t forget about corporate tax services to keep your finances healthy and compliant.

🔗 Learn more: counto.accountant

[e-file-irs-form-2290]

EFTPS Online Tax Payment Guide

Learn how to use the Electronic Federal Tax Payment System (EFTPS) for secure online tax payments. This guide covers enrollment, scheduling payments, tracking history, and modifying scheduled payments, providing a comprehensive overview of the EFTPS service.

Visit Our Website Link

[alvinubaldo]

Alvin Ubaldo - Step-by-Step Approach to Preparing Your Estimated Taxes

When you’re self-employed or earn income that isn’t subject to regular withholding—like freelance work, rental income, dividends, or gig work—handling taxes becomes your responsibility. You don’t want to be surprised with a big tax bill (and penalties) at the end of the year. That’s where estimated taxes come in. Alvin Ubaldo breaks down the step-by-step process to help you prepare and pay your estimated taxes accurately and on time.

Understand Who Needs to Pay Estimated Taxes

Before you start crunching numbers, determine whether you’re required to pay estimated taxes. According to the IRS, you generally need to make estimated payments if:

You expect to owe $1,000 or more in tax for the year after subtracting withholding and credits.

Your income isn’t subject to regular withholding (e.g., from an employer), such as self-employment income, interest, dividends, rental income, or capital gains.

Alvin Ubaldo’s Tip: Even if you're working a regular job but have significant side income, you might need to adjust your withholding or make estimated payments to avoid penalties.

Gather All Your Income Sources

The next step is collecting all your income information. This includes:

1099 forms for freelance or contractor work

Records of business income or cash earnings

Rental property income statements

Investment dividends and interest

Any other untaxed income

You’ll need this information to estimate your total income for the year.

Alvin’s Insight: Alvin Ubaldo says to always keep detailed records—not just for taxes, but to better understand your financial health and make more accurate quarterly payments.

Estimate Your Taxable Income

Once you have your gross income, subtract any deductions you’re eligible for. These might include:

Self-employment tax deduction

Business expenses

Contributions to retirement plans (e.g., SEP IRA)

Health insurance premiums (if self-employed)

Standard or itemized deductions

Subtracting deductions from your gross income gives you your taxable income.

Alvin Ubaldo’s suggestion: Don’t guess. Use past returns and current income projections to make realistic estimates. If you're unsure, consider using an IRS tax calculator or consulting a tax professional.

Calculate How Much Tax You Owe

Using your taxable income, calculate the federal tax you’ll owe. You can use the IRS tax brackets for the current year to determine your rate. Don’t forget to include:

Self-employment tax: This covers Social Security and Medicare. It's currently 15.3%.

Additional taxes: Depending on your income, you may owe additional taxes (e.g., Net Investment Income Tax).

Add all this together to get your total expected tax liability.

Pro Tip from Alvin: If you had a big income change from the previous year, avoid relying solely on your past tax return as a reference. Adjust accordingly.

Divide and Conquer—Quarterly Payments

The IRS expects you to pay taxes quarterly, not just once a year. Divide your total estimated annual tax by four. These payments are typically due on

April 15

June 15

September 15

January 15 (of the following year)

Use Form 1040-ES to file these payments.

Alvin Ubaldo’s Reminder: Even if your income fluctuates through the year, make your best estimate for each quarter. You can adjust your payments later as your income changes.

Pay On Time to Avoid Penalties

Failing to pay estimated taxes—or underpaying—can lead to IRS penalties. Set calendar reminders or automate payments through the IRS Direct Pay system or EFTPS (Electronic Federal Tax Payment System).

Alvin’s Advice: Don’t wait until the last minute. Early and consistent payments help avoid stress and financial surprises.

Keep Records and Stay Organized

Finally, save copies of all payment confirmations, 1040-ES forms, income documentation, and calculations. These will help you:

Track what you’ve paid

Recalculate if needed mid-year

Prepare for year-end taxes or audits

Alvin Ubaldo says, Good recordkeeping isn’t just smart—it’s essential. Use software like QuickBooks, a spreadsheet, or a simple folder system to stay on top of it.

Final Thoughts

Handling estimated taxes doesn’t have to be overwhelming. With the right approach, it becomes a manageable part of your financial routine. Alvin Ubaldo’s step-by-step method emphasizes clarity, accuracy, and consistency. Whether you’re a freelancer, landlord, or small business owner, following these steps can keep you on the right side of the IRS—and in control of your finances.

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𝐑𝐞𝐚𝐝𝐲 𝐭𝐨 𝐩𝐚𝐲 𝐲𝐨𝐮𝐫 𝐭𝐚𝐱𝐞𝐬? Skip the mail and pay online. The IRS offers various electronic payment options – direct pay, EFTPS, and more. The agency has also issued a guideline concerning the safe and secure payments for this tax season. 𝐑𝐞𝐟𝐞𝐫 𝐭𝐨 𝐭𝐡𝐞 𝐥𝐢𝐧𝐤 𝐛𝐞𝐥𝐨𝐰 𝐭𝐨 𝐠𝐨 𝐭𝐡𝐫𝐨𝐮𝐠𝐡 𝐭𝐡𝐞 𝐠𝐮𝐢𝐝𝐞𝐥𝐢𝐧𝐞𝐬. https://www.irs.gov/newsroom/tax-time-guide-use-irs-electronic-payment-options-for-fast-safe-service-avoid-penalties-and-interest#:~:text=Other%20electronic%20payment%20options,without%20any%20fees%20or%20registration. Source - (IRS Newsroom)

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Understanding Form 720

What is Form 720?

Form 720, Quarterly Federal Excise Tax Return is used by businesses to report and pay federal excise taxes on specific goods, services, and activities. These taxes apply to items such as fuel, air transportation, and certain manufacturer taxes. The form must be filed quarterly with the Internal Revenue Service (IRS), and payments can be made electronically through the Electronic Federal Tax Payment System (EFTPS).

When is Form 720 Due?

Form 720 is due quarterly, with the following deadlines each year:

April 30 (for the first quarter: January–March)

July 31 (for the second quarter: April–June)

October 31 (for the third quarter: July–September)

January 31 (for the fourth quarter: October–December)

The form must be filed by these dates to avoid penalties.

Who needs to file Form 720?

Form 720 must be filed by businesses that are responsible for paying federal excise taxes on specific goods and services. This includes manufacturers, retailers, airlines, and other businesses that produce, sell, or use taxable products and services. Depending on the type of excise tax owed, these businesses may be required to file the Quarterly Federal Excise Tax Return (Form 720) up to four times per year. Filing ensures compliance with IRS regulations and timely payment of excise taxes.

How much is the IRS penalty for not filing Form 720?

If Form 720 is not filed by the due date, the IRS may impose a penalty for late filing. This penalty is typically 5% of the unpaid excise tax for each month the return is late, up to a maximum of 25% of the total tax owed. Additionally, if the tax remains unpaid, interest charges may also apply, further increasing the amount due. To avoid penalties and interest, businesses should ensure they file Form 720 on time and pay any applicable excise taxes promptly.

How to pay Form 720?

Businesses can pay the excise taxes reported on Form 720 using either the traditional manual method or the electronic method. 

The manual method involves mailing a check or money order, along with a completed Form 720-V (Payment Voucher), to the IRS at the address specified in the form’s instructions.

Alternatively, the electronic method allows businesses to make payments securely through the Electronic Federal Tax Payment System (EFTPS), which is the IRS’s preferred method for faster and more reliable transactions. EFTPS enables businesses to schedule payments in advance and track their tax payments online. Regardless of the method chosen, it is crucial to submit payments on time to avoid penalties and interest.