In this blog, you will explore Federal Excise Tax exemptions in detail, covering various categories. You will also learn about the Federal Excise Tax Exemption Program, the 637 Registration Program, and how to claim Federal Excise Tax refunds or credits.
Under IRS Section 4371, an excise tax is levied on premiums paid by U.S. citizens (policyholders) to foreign insurers or reinsurers. This tax also applies to premiums associated with foreign life insurance transactions involving non-resident agents, solicitors, or brokers.
In this blog, we will delve into the topic of Foreign Insurance Excise Taxes, providing a comprehensive overview of this critical aspect of international taxation. The discussion will cover key areas such as:
The Ship Passenger Excise Tax is a federal tax levied on specific voyages conducted by commercial passenger vessels operating in U.S. waters. The current tax rate is $3 per passenger per covered voyage.
Ship Passenger excise Tax: Under Section 4471 of the IRS Code, an excise tax is levied on commercial ship operators that provide specific types of trips on vessels designed to accommodate at least 17 passengers.
The Ship Passenger Excise Tax is a key regulatory obligation for cruise operators in U.S. waters. It ensures that maritime travel adheres to federal tax laws and provides funding for various governmental programs.
In this blog, we will take an in-depth look at the Federal Retail Excise Tax, as outlined in IRS Form 720, which is applicable to the owners of certain heavy vehicles, including trucks, trailers, semi trailer chassis and bodies, and tractors.
Fuel Excise Tax can be paid conveniently online using our IRS-authorized portal- Simple720. Here’s a detailed guide to assist you through the process.
In this blog, we will delve into the primary taxes applicable to salon owners, discuss their rates and the importance of staying compliant, and explore the exemptions available to help reduce their tax liabilities
In this blog you will explore about the Federal Fuel Excise Tax in detail covering few topics like, What is a Fuel Excise Tax? An overview of the fuel excise tax, including taxed fuel types like gasoline and diesel, and its purposes, such as funding transportation, generating revenue, and encouraging efficient fuel use.