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Motor Fuel Tax Refund for Off-road Use
Oleh:
Lebow, Marc I.
;
McLain, Michael
Jenis:
Article from Bulletin/Magazine
Dalam koleksi:
Journal of Accountancy vol. 211 no. 3 (Mar. 2011)
,
page 52-53.
Topik:
Tax Refunds
;
Excise taxes
;
State Laws
;
Off Highway Vehicles
Ketersediaan
Perpustakaan Pusat (Semanggi)
Nomor Panggil:
JJ85.30
Non-tandon:
1 (dapat dipinjam: 0)
Tandon:
tidak ada
Lihat Detail Induk
Isi artikel
Many taxpayers may be overlooking the refund or credit available under IRC § 6421 for federal excise taxes paid for motor fuels and similar state provisions. The taxes are on fuels used to power vehicles and equipment on roads and highways. Taxes paid for fuel to power vehicles and equipment used off-road may qualify for the refund or credit. This includes farm equipment and certain boats, trains and airplanes. In most states and for the federal government, the taxes collected are placed into a special fund designated for highway and road construction and maintenance. To claim a credit for the federal tax, taxpayers file with their tax return Form 4136, Credit for Federal Tax Paid on Fuels. Taxpayer records should include the name and address of the seller of the fuel, dates of purchase and number of gallons purchased during the year for each type of qualified business use.
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