Tag Archives: IRS Form 2290

Tax credits for Hydrogen fuel from IRS.

IRS Updates Alternative Fuel Excise Tax Forms

The Internal Revenue Service (IRS) has updated several tax forms used to claim the Alternative Fuel Excise Tax Credit. As a result of these updates, taxpayers claiming a rebate or payment for the $0.50 per gallon credit mustfile Form 8849, Schedule 3 (PDF 189 KB). Additionally, corporations and businesses may use Form 8849, Schedule 3 to claim a quarterly credit instead of using Form 4136 (PDF 263 KB) to claim an annual credit. According to the IRS, claimants that intend to file Form 8849, Schedule 3 must file no later than the end of the quarter following the quarter in which the fuel was used or sold.

Dual Registration and reporting 2290

If a taxable vehicle is registered in the name of both the owner and another person, the owner is liable for the tax. This rule also applies to dual registration of a leased vehicle.

Dealers

Any vehicle operated under a dealer’s tag, license, or permit is considered registered in the name of the dealer. Continue reading →

IRS Reminds Paid Tax Preparers to Register Now for PTINs

WASHINGTON — As year end approaches, the Internal Revenue Service today strongly encouraged paid tax return preparers to register now for their new or renewed Preparer Tax Identification Numbers (PTINs) to avoid any last-minute rush.

Starting Jan. 1, 2011, use of the PTIN will be mandatory on all federal tax returns and claims for refund prepared by a paid tax preparer. Individuals who, for compensation, prepare all or substantially all of any federal tax return or claim for refund must use PTINs. Paid preparers must apply for a new or renewed PTIN through the new sign-up system at www.irs.gov/taxpros. Continue reading →

Eight Things to Know If You Receive an IRS Notice

Did you receive a notice from the IRS this year? Every year the IRS sends millions of letters and notices to taxpayers but that doesn’t mean you need to worry. Here are eight things every taxpayer should know about IRS notices – just in case one shows up in your mailbox.

1. Don’t panic. Many of these letters can be dealt with simply and painlessly.

2. There are number of reasons the IRS sends notices to taxpayers. The notice may request payment of taxes, notify you of a change to your account or request additional information. The notice you receive normally covers a very specific issue about your account or tax return.

3. Each letter and notice offers specific instructions on what you need to do to satisfy the inquiry. Continue reading →