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Excise taxes are taxes paid when purchases are made on a specific good, such as gasoline or for activities, such as on wagering or on highway usage by trucks.
More information on qualification for the credits is on Form 720, Quarterly Federal Excise Tax Return; Form 720X, Amended Quarterly Federal Excise Tax Return; Form 4136, Credit for Federal Tax Paid on Fuels; Form 6478, Alcohol and Cellulosic Biofuel Fuels Credit; Form 8849, Claim for Refund of Excise Taxes; and Form 8864, Biodiesel and Renewable Diesel Fuels Credit.
What else can I help you with?
When do K-1 forms have to be mailed?
The K-1 forms have to be mailed annually when filing the tax return form.
Do you have to give W 2 forms to the IRS?
If you're filing a paper return, then yes, you need to include Copy B with your tax return. It's stated in the Income Section of the return where you need to attach W-2 forms. If you're filing electronically, then the information from the W-2 is entered in the appropriate sections. You keep your W-2 forms with your other tax records if you file electronicallly.
Forms of excise payment?
Use GAR 7 Challan
Where can I find more information about an amended tax return?
If you discover an error after your return has been filed, you may need to amend your return. The IRS may correct errors in math on a return and may accept returns with certain forms or schedules left out. In these instances, do not amend your return! However, do file an amended return if there is a change in your filing status, income, deductions, or credits. Also, if the Form 8938 (PDF), Statement of Specified Foreign Financial Assets, applies to you, see Filing Form 8938 after filing 2011 or 2012 annual returns in the Form 8938 Instructions.
How do I handle multiple W2 forms from the same employer when filing my taxes?
When filing your taxes with multiple W-2 forms from the same employer, you should add up the amounts from each form and report the total on your tax return. Make sure the information is accurate and matches your records to avoid any discrepancies.
What are the necessary steps for filing taxes for a small business?
The necessary steps for filing taxes for a small business include keeping accurate financial records, determining the business structure, obtaining an Employer Identification Number (EIN), filling out the appropriate tax forms, calculating and paying estimated taxes, and filing the tax return by the deadline.
Use Caution When Filing A Federal Tax Return?
Americans are required to file a tax return if you have earned over a minimum level of income and meet requirements for age, filing status and income type. Anyone who is not sure whether he or she must submit a return should visit the IRS website for guidance. Those who are not required to file a tax return often should file one anyway because they could qualify for money back from programs like the earned income credit.Different Kinds Of Tax ReturnIndividuals, businesses and many organizations must file a federal tax return, so they should all get ready for the inevitability of tax season. Although a seemingly complicated process, determining who must file a tax return is relatively easy compared to the process of filing taxes.Tax FormsThe IRS has thousands of tax forms that augment the well-known 1040, 1040A and 1040 EZ forms. Each form has a matching publication that is purportedly intended to provide instructions for completing the form properly. Different forms are used for reporting income earned from employment, investment income, self-employment income and other sources. For each of those forms, other forms exist to calculate deductions, exemptions, exclusions and other variables that impact the taxpayer's tax obligation for the previous year.PenaltiesTaxpayers risk being assessed penalties for filing the wrong forms, filing the proper forms late or filing no forms at all. Calculation errors are also the taxpayers responsibility. If a taxpayer pays too little in taxes, the IRS will bill the taxpayer that amount plus penalties, interest and other possible fees.A taxpayer who has developed a liability with the IRS can be taken to tax court, fined and imprisoned. The IRS can also seize the assets and garnish the wages of a problematic taxpayer, resulting in hardship for the taxpayer and his or her family.Tax Preparation ServiceCompanies that specialize in the tax code can help a taxpayer comply with the law by filing an accurate and timely return. Many of these services offer online filing, so the IRS receives the return almost instantly and then sends any refund to taxpayers via direct deposit.
Who can help someone filing their taxes for the first time?
A tax accountant is the best place to get help for the first time when filing income tax forms. No accountant is necessary if using the EZ forms. The library also has up to date books to help with the filing of income tax forms.
What information is required in a certificate of incorporation?
There is much information needed for filing a certificate of incorporation. The company will need an IRS Tax ID, stock certificate forms, IRS forms for subchapter filing, and many other forms.
Where can I get federal tax return forms?
You can get federal tax return forms online on the IRS website. Their site has all the federal tax return forms and publications that you need.
What is the deadline for filing income tax forms?
April 15
Do you send a copy of your federal tax return with your state tax return?
It depends on the state (we don't know what state you are in) and the complexity of your return. Some states require a copy of your federal return. Some states require a copy only if you have certain types of income or file certain forms. Some states do not require a copy at all. Check the instruction booklet that came with your state tax forms. It should tell you what you need to send. If you are filing your state return electronically you do not need to mail in a copy of your federal return. If you are mailing in your state return then yes a copy of your federal return must be attached.
