Category Archives: Form 720 Quarterly Excise Tax Efile

Efile Your Excise Tax Claims Through Form 8849

Hello Tax payers, we hope you are pink of health. Quarterly Excise Tax reported through Form 720 is due by next month, it is good to gear up with your documents. Simply log into and file your return at your own convenience.

Leaving reminders aside, today we would be discussing about Form 8849, An Application for claims and refunds of Excise Tax. As you know there are various schedules under Form 8849, we would like to throw some light on the schedules & their purpose. So keep reading to know more about Form 8849. Continue reading Efile Your Excise Tax Claims Through Form 8849

What is IRS Form 8849 Schedule 1? Read it here!

Heya! We’re back with a bang, lot more to share and update our knowledge with. This time it’s not going to be the same old dedication to our audience and bore you all. We decided to take a chance and discuss about Form 8849 and its schedules falling in the category. We hope this interests you.

A week back, we had posted a blog “What Is an IRS Form 8849 Schedule 3?” and today, we would like to share more about IRS form 8849 schedule-1. Continue reading What is IRS Form 8849 Schedule 1? Read it here!

What Is an IRS Form 8849 Schedule 3?

Warm welcome to our blog, the only place where sharing of information as well as knowledge upgrading takes place. Our lives run on roller skates, with no minimum pace. In such cases, these blog posts come for your rescue.

Today, we will be sharing a post on what is IRS form 8849 Schedule3 and its purpose. We hope that it provides you with the sufficient information you’re looking for. Continue reading What Is an IRS Form 8849 Schedule 3?

Stress free way to manage IRS tax penalties and Interests.

If you are one among them who say, “It’s difficult to deal with IRS” or who feel stressed away with charges, then this is exactly for you. You often hear your mind chanting it when you are caught up with bills, penalties or interest by IRS. Let’s quickly explore the possible ways for IRS penalties reliefs in few seconds.

Know how

  • As a general rule, you have to request IRS at once to eliminate tax penalty charges billed upon you. IRS also looks for some basic documentation while accessing your case.
  • No standardized IRS form or confusing formats to fill your tax relief request. If you have valid documentation to substantiate for not filing or paying on time, write it down. Whatever that delayed your action! But not that you have been to honeymoon! Be as explicit as possible. So when IRS looks at your case, it is likely to deal your case quickly.
  • For Example, IRS will remove your penalty without question if you could verify your family death, which stopped you from filing on time.
  • Commit to memory that there is certain IRS penalty relief regulation for Internal Revenue Service to allow partially or completely waive your penalty charges.
  • By default, check twice that you own all those photocopies which witness the communication between you & IRS, if possible originals & phone correspondence too.

In most cases, unless you show that the IRS made a glitch, you owe the amount of interest. Also remember IRS looks at interests and penalties separately. Penalties are bit easier than interest to eliminate.  If you still deny penalties and interest, bankruptcy can merely help you, which can be applied only during extreme circumstances. So, why such trials? To avoid complication, file your taxes at Taxexcise in time. Give us a call at 1-866-245-3918 for any questions, no matter when!

IRS to Host Public Meeting Dec. 8 on Real-Time Tax System

WASHINGTON –– The Internal Revenue Service will kick off a series of public meetings  Thursday, Dec. 8 to gather feedback on how to implement a series of long-term changes to the tax system described by IRS Commissioner Doug Shulman in an April 2011 speech at the National Press Club.  In that speech, the Commissioner described a vision where the IRS would move away from the traditional “look back” model of compliance, and instead perform substantially more “real time,” or upfront matching of tax returns when they are first filed with the IRS.  The goal of this initiative is to improve the tax filing process by reducing burden for taxpayers and improving overall compliance upfront.

Under the vision of a real-time tax system, the IRS could match information submitted on a tax return with third-party information right up front during processing and could provide the opportunity for taxpayers to fix the tax return before acceptance if it contains data that does not match IRS records

By contrast, today the IRS conducts a significant number of compliance activities months after the tax return has been filed and processed.  It is not uncommon for a taxpayer to receive a notice 12 to 18 months after a tax return is filed.  This after-the-fact compliance approach can create problems and frustrations for both taxpayers and the IRS.

At the public meetings, IRS officials will solicit feedback and input from outside stakeholders to provide comments and insight. The first meeting will feature representatives of consumer groups, the tax professional community and government representatives.  A future public meeting will include, among others, representatives of the employer and payroll community, the software industry, financial institutions and additional government representatives.

The first meeting, scheduled at 9:00 a.m. on Dec. 8, will take place at the IRS Headquarters Building Auditorium, 1111 Constitution Ave., NW, Washington, D.C. Those who would like to attend the meeting should e-mail the IRS with the contact information for the attendees or call the IRS at 202-622-3359.

The next public meeting will be held early next year.

Source: Issue Number: IR-2011-114