Tax News Archives - Tax2efile Blog

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

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...

How to Renew Your IRS PTIN by the December 31st Deadline?

The PTINs will expire on December 31st of each year. The renewal process of PTIN will begin in mid-October every year. Tax Payers can renew online by logging into their PTIN account or by submitting the Paper Form of W-12 will the renewal box checked. The process of online renewal takes about 15 minutes. Paper renewal takes about 4 to 6 weeks to process. What is PTIN? The PTIN is also known as the Preparer Tax Identification...

Our Customer Support Team is Here to Help You with Filing Your Forms

Tax Payers will not enjoy the stress of the tax season, especially if they are running on their fleet. Irrespective of whether the taxpayer is filing their taxes on their own, or relying on their accounting team Tax2efile will be ready to help. Taxpayers can create their free accounts on the website and file Form 2290 electronically. They can also pay the HVUT taxes to the IRS through multiple payment options and receive digital IRS-stamped proof of...

Truck driver vaccine mandate in place until at least September 30 

The cross-border trucker vaccine mandate is still in place at Canada’s border. This Canada’s vaccine mandate for border-crossing truck drivers will remain in place until September, 30th. This restricts unvaccinated foreign nationals from entering the country.  The Americans crossing the US-Canadian border should get complete vaccination against Covid- 19, and are subject to random arrival testing. They are mandated to load data through the Arrive CAN app within 72 hours (about 3 days) of travel, as per...

Common IRS forms you should know for 2022 (Form 1040, Schedule A, B, C and D, Form 1098, Form 1099, and Form 4868)

If you are a citizen of the United States, you should have known that there are about a thousand Forms present to report the income and the expenses with the Internal Revenue Service. Understanding all of them and trying to fill them could be more of a maze work. But not all people have to use all these IRS Forms as there are designated tax Forms to be used by different entities. But it is good to...

IRS Federal Income Tax Brackets and Rates for 2021 Tax Year

With due dates approaching, tax filing is at a high peak. Before moving into tax filing, are you aware of federal income tax brackets and rates? Do you have an idea of how taxes imposed? Take a look at few details regarding tax brackets and rates.  About Tax Rates and Brackets The US follows progressive rates for imposing an income tax. The tax liability for any individual heightens as the income rises. For 2021, there are nearly...

What to Expect During the 2021 Tax Season

It’s time to file your 2020 taxes. All of you must be teeming about 2021 tax filing as the due date is approaching. The COVID pandemic and special pandemic relief play a role in your tax filing 2021. All these aspects would be unique, and tax filing 2021 would be a new experience for taxpayers. Let us through a few facts about what to expect during the 2021 tax season.  There were multiple tax policy changes by...

Best Ways to Manage Your Payroll Efficiently

Are you running a small business? Are you handling multiple aspects on your plate? Then, menial things such as payroll should not bother you if you are capable of managing it efficiently. Payroll management is one of the vital operations of any business. Payroll processing plays the chief role of dealing out employee paychecks, maintaining sufficient documentation, and complying with labor laws. For ones looking forward to maximizing the efficiency of a business, then you are on the...

The Latest Guidance on the Paycheck Protection Program

The CARES Act (Coronavirus aid, relief, and economic security act) that was passed on March 27, 2020, provides forgivable loans of about $10 million to qualifying small businesses under the paycheck protection program loan. We have addressed the latest considerations that are relevant to PPP borrowers and companies here. What is a paycheck protection program? The paycheck protection program is a loan that offers a direct incentive for small businesses and helps keep their workers on the...

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

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...