An impact tool for use by telecommunications personnel for the insertion of communications wires in a terminal block. The impact tool includes an impact tool cartridge having a seating blade and a cutting blade. The seating blade is retractable against a compression spring while the cutting blade is fixed so that upon the application of seating pressure to the impact tool, the seating blade retracts and the cutting blade is exposed to cut the wire. In another embodiment of the invention, a spring loaded detent supplements the compression spring in resisting retraction of the seating tool. A noise producing mechanism is located in the impact tool handle for producing an audible sound upon completion of the wire seating and terminating operations. A storage compartment for the seating and cutting blades is formed in the impact tool handle and has a door pivotally mounted for opening and closing movement relative to the handle.