May 2023 - Tax2efile Blog

File 2290 Form Online (with Tax2efile Mobile App)

May 26, 2023

File 2290 Form Online is made easy now with Tax2efile Mobile Application Tax2efile is an IRS-approved e-filing service provider, that helps taxpayers to pay their HVUT without any hassles. It introduces the Tax2efile mobile app, to simplify the tax-paying process. Taxpayers can download the app on their mobile devices and file Form 2290 on the go. This helps them prevent last-minute filing and avoids penalties for missing the deadline.  File Form 2290 Online: Easy go Application for...

1099 forms for independent contractors

May 24, 2023

Understand the 1099 Forms for independent contractors Independent contractors use the IRS 1099 tax Form to report their non-employment income to the IRS. If you received non-employment income, such as interest from a bank account, payment for freelance work, or dividends from a brokerage account, you must report this income to the IRS using the 1099 Forms. There are different versions of the 1099 Form that taxpayers use to report different non-employment income with the IRS. Consideration...

Does 1099 NEC replace Form 1099 MISC? How to file 1099-NEC electronically?

May 19, 2023

People use IRS Form 1099-MISC to report miscellaneous income. Taxpayers use IRS tax Form 1099-NEC to report non-employee compensation, which refers to payments made to individuals who are off the payroll and complete project assignments on a contract basis. All gig workers, independent contractors, and self-employed individuals report their payments in box y of the 1099 MISC Form before 2020. The IRS Form 1099-NEC is used to report independent contractor income, though Form 1099-MISC was previously used...

What is IRS 1099-S form and Instructions

May 16, 2023

The IRS Form 1099-S is used to report sale or exchange of real estate. This includes exchanges or sales related to real estate land, permanent commercial, residential, or industrial spaces, condominium units, stocks in housing corporations, etc. For exchanges and sales or real estate, the person responsible for closing the real estate transaction should report the real estate proceeds to the IRS and furnish the tax statement to the taxpayer. Information required to fill out 1099-S Tax...

What to Do if You Haven’t Filed Your Income Tax Return?

May 11, 2023

Filing an income tax return is an integral aspect of our civic responsibility If the taxpayers have not filed their federal income tax return for the tax year or for the previous years, then they should file their returns at the earliest. Else they must provide the reason for not filing the returns. Consequences of not filing Income Tax return within the due date: If taxpayers fail to file their Income Tax returns by the due date...

Nonprofits with a May 16 990 Deadline can File IRS Extension Form 8868

May 8, 2023

IRS Extension form 8868 is used to get an automatic extension from IRS for non-profit organizations If your nonprofit organization has a deadline of May 16 to file Form 990, they can opt for an IRS extension by making use of the IRS Extension Form 8868. This Form enables nonprofits to seek additional time for filing most tax returns, including Form 990. Tax Filing by Nonprofits: The tax-exempt organizations have May 16 as their tax filing deadline....

When and Where to File IRS Form 7004 Online

May 4, 2023

The IRS tax Form 7004 can be used by businesses and corporations to request an automatic six-month extension of time to file business information, income tax, and other returns. With the help of the tax2efile application, you can file 7004 online and submit it to IRS. The IRS Form 7004 offers businesses an extension of time to file the information returns, which might vary from 5 to 7 months extension period after the due date of the...

E-file Tax Extension Forms 7004, 4868, and 8868 for the 2022 Tax Year Now!

May 2, 2023

With tax2efile you can conveniently utilize e-file tax extension forms! Tax Payers who do not find much time to prepare their federal tax return forms should file tax extension forms to seek additional time to file the returns. But they have to be aware that this extension of time to file the returns does not grant them time extension to pay their taxes. Taxpayers should estimate and pay all their owed taxes by their regular deadline to...