Tag Archives: 8849 For refunds

IRS unclaimed refunds of $1.5 billion waiting for tax year 2016; taxpayers face July 15 deadline

Unclaimed income tax refunds worth more than $1.5 billion await an estimated 1.4 million individual taxpayers who did not file a 2016 federal income tax return, according to the Internal Revenue Service.

“The IRS wants to help taxpayers who are owed refunds but haven’t filed their 2016 tax returns yet,” said IRS Commissioner Chuck Rettig. “Time is quickly running out for these taxpayers. There’s only a three-year window to claim these refunds, and the window closes on July 15. To claim the refund, a return for tax year 2016 must be filed by July 15, 2020.”

Continue reading IRS unclaimed refunds of $1.5 billion waiting for tax year 2016; taxpayers face July 15 deadline

Avoid IRS Penalties, E-File Tax Returns Before the Deadline!

The most common IRS penalties are for not filing on time and not paying on time. There are almost 150 penalties in the Internal Revenue Code, but these two very common penalties make up 74% of all. 60% of all is Failure to pay penalty, imposed if you don’t pay taxes on time. And 14% is Failure to file penalty, imposed if you don’t file a return on time. That means majority of the total tax payers either miss to file returns on time or miss to pay tax due on time.

A failure to file or failure to pay penalties are charged on returns filed after the due date or taxes paid after the due date. Although one can request for the penalty abatement but that could take up to three to nine months’ time and loads of hassles before a successful relief.

You may find it easiest to hire an accountant for a timely filings and payments to save you from all but generally accountants charge a very high fees to get your job done. Taxpayers can potentially save their time and these additional money by shifting their tax return preparation and filings to www.TaxExcise.com. The inevitable rush to file returns by the tax deadlines, the human mistakes due to the rush and penalties due to missing deadlines; can all be avoided if you e-file your tax returns with TaxExcise.com.

www.TaxExcise.com is the first and decade old IRS e-file service provider that can e-file any excise tax returns mentioned below:

HVUT Form 2290:

  • Due by August 31 for yearly renewal OR following month end for new vehicles.
  • To obtain IRS waterproof Schedule-1 copy with unlimited vehicles within minutes.
  • Gross Weight, VIN correction and Mileage limit Amendments.

Quarterly Excise Tax Form 720:

  • Quarterly taxes due on JAN 31, APR 30, JUL 31, and OCT 31 in a calendar year.
  • Including the PCORI taxes due in Q2 of each year

 All Form 8849 Refund Claims : (Schedules 1, 2, 3, 5, 6 and 8)

 IFTA Tax returns online preparation:

  • All US states and Canadian Provinces.
  • Quarterly taxes due on JAN 31, APR 30, JUL 31, and OCT 31 in a calendar year.

Excise Tax Form 720 and IFTA for 4th Quarter of 2018 & Form 2290 for Vehicles 1st used in December 2018, were due on January 31. If you missed the deadline, give us a try!

For any questions & help feel free to reach us anytime @ 1-866-245-3918 or write to us in support@taxexcise.com or Ping us using the LIVE CHAT Option on the website.

What to Avoid When Filing for a Tax Refund – Know the Tips

Filing tax return is not something we want to do everyday and try our best do it cautiously to avoid making any errors. At times, you might make few mistakes but this can add to your responsibility and make the process lengthy too. For example, if you file your tax return incorrectly then it might take more than the usual time to process and add to the delay in getting refund. Therefore, to avoid making any errors e-filers are advised to file their tax return electronically. In addition, recent surveys have shown that taxpayers have increased chances of making a mistake compared to those paper-filing their tax return. Read on to learn the common errors to avoid when filing tax return:

  • Name Misspelled or Wrongly Written:

Taxpayers should make sure to enter their name, as registered in the EIN . Additionally, it does not take much time to review the name entered in the tax form to ensure it is correct.

  • Incorrect Tax Calculation:

Taxpayers filing their tax return on paper need to be extra cautious when calculating their taxes, as well as have to be perfect in it. Whereas, those e-filing their tax return can stay tension-free, as certified e-filing service providers like Taxexcise.com have in-built calculator that makes tax calculations easier and faster.

When e-filling tax returns for refund, tax payers sign the return electronically by providing five digits of their choice. Taxpayers should remember the digits entered by him or her to avoid complications when filing for the next time.

  • Un-signed Form:

An un-signed tax return form is somewhat similar to an unsigned check, which is invalid and of not use. Make sure to check these important details before sending the form completely.

Taxexcise.com is an IRS certified e-filing service provider offering easy, quick, and secure e-filing of tax refund. Reach us @ 1-866-245-3918 anytime and get your queries answered.