November 2020 - Tax2efile Blog

Penalties for not Filing and Paying Heavy Vehicle Use Tax Form 2290

November 30, 2020

Hey, Truckers!! The Heavy Vehicle Use Tax (HVUT) Form 2290 deadline is approaching on August 31st every year. What happens if you miss filing truck tax by the due date or if you do not file Form 2290 on time? When you do not file the HVUT Form 2290 before the deadline, then you may attract the IRS penalties for the 2020-2021 financial years. What is IRS Form 2290? Every active trucker on-road needs to E-file IRS...

IRS Takes Non-Employee Compensation Out of 1099-MISC: New Form 1099-NEC

November 26, 2020

For Non-employee compensation reporting, form 1099-NEC was in use. Do you know about the new 2020 Form 1099 NEC? Here’s a peek about the latest Form 1099-NEC. What is 1099 MISC? Miscellaneous income form 1099-MISC is known as an information return business for reporting payment types. Payments made to independent contractors fall under this category. Payment categories such as rents and royalties use form 1099-MISC. Form 1099-MISC is similar to W2 but meant only for independent contractors....

Advance thanks Giving Day wishes from Tax2Efile Team

November 24, 2020

Thanksgiving is near and warm wishes from the Tax2efile team to you and your family. We extend our thankfulness to each of our customers in this holiday season. This thanksgiving day began as a day of giving thanks for the blessing of the harvest. Later, this day became the day where families come together, eat, share, and celebrate the special day with the loved ones. So we as a family are growing together with you and your...

How to Get an IRS Identity Protection PIN (IP PIN)?

November 20, 2020

Do you like to avoid fraudsters using stolen identities for filing false tax returns? It’s time to get your identity protection PIN. Take a look at the details about IP Pin and ways to get the number. What is the Identity Protection IP PIN? The IP PIN by the IRS and is a six-digit number. To avoid the misuse of the social security number on tax returns by fraudulent means, the IP PIN is beneficial. The IRS...

Truck owners should use the online form to avoid penalties

November 16, 2020

Are you a truck owner looking for ways to avoid the penalty? There is a solution for the same query. The NDDOT or North Dakota department of transportation boosts heavy truck owners to use the IRS form 2290 online to get rid of penalties for late filing. The IRS or internal revenue service updated the NDDOT about the timeline increase in form processing and issues in the deadline for filing. Delay in processing The notice is for...

What is an IRS Tax Extension? Know More about Form 4868

November 9, 2020

Do you need more time to file your taxes? The IRS extension form 4868 is always available for extension purposes. Let’s peek through and get to know what an IRS tax extension form 4868. What is an IRS 4868 Extension? Citizens filing a federal income tax and looking for a time extension beyond the April filing deadline can gain an extension. The extension is obtained by filing the IRS extension form 4868. By filling this form, your...

How to File Return to Receive Economic Impact Payments?

November 2, 2020

The eligible individuals of the United States of America will receive Economic Impact Payments of about $ 1200 for the individuals or up to $ 2400 for the married couples, under the Coronavirus Aid Relief and Economic Security (CARES) Act. For each qualifying child, the parent will also receive $ 500 for each child. To receive this Economic Impact Payments, the Internal Revenue Service IRS has announced two procedures. Procedures to receive the Economic Impact Payments The...