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Old 08-29-2017, 12:58 PM
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FET claim form

Dear all,

An aviation company that wishes to claim the FET from the 3 previous years, needs to use form 720, form 8849 or form 4136?

After that is made, on a quarterly bases, should the claim for refund be made on form 720 or 8849?

Appreciate the help.



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Old 08-29-2017, 07:04 PM
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An aviation company that wishes to claim the FET from the 3 previous years, needs to use form 720, form 8849 or form 4136?==>> Businesses that deal in goods and services that are subject to excise tax must prepare a Form 720 on a quarterly basis to report the tax to the IRS. credit can be taken for U.S. federal Income tax purposes for certain non-taxable use of fuels. This credit can be claimed on Form 4136
Certain taxpayers may be entitled to claim a periodic refund for the federal excise tax on fuels, by filing Form 8849, Claim for Refund of Excise Taxes. A credit can also be claimed on Schedule C of Form 720, Quarterly Federal Excise Tax Return, if a liability for excise taxes is reported on that form.Types of Fuels That May Qualify for a Credit or Refund
After that is made, on a quarterly bases, should the claim for refund be made on form 720 or 8849==>as mentioned previously



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Old 08-30-2017, 06:37 PM
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Quote:
Originally Posted by Wnhough View Post
An aviation company that wishes to claim the FET from the 3 previous years, needs to use form 720, form 8849 or form 4136?==>> Businesses that deal in goods and services that are subject to excise tax must prepare a Form 720 on a quarterly basis to report the tax to the IRS. credit can be taken for U.S. federal Income tax purposes for certain non-taxable use of fuels. This credit can be claimed on Form 4136
Certain taxpayers may be entitled to claim a periodic refund for the federal excise tax on fuels, by filing Form 8849, Claim for Refund of Excise Taxes. A credit can also be claimed on Schedule C of Form 720, Quarterly Federal Excise Tax Return, if a liability for excise taxes is reported on that form.Types of Fuels That May Qualify for a Credit or Refund
After that is made, on a quarterly bases, should the claim for refund be made on form 720 or 8849==>as mentioned previously
Thank you for your reply. I had the doubt of reading "or", but apparently it really is a choice.

Still inside the subject, if the corporation was not from the US, it wouldn't need to fill form 720, just 4136 for the annual refund? What extra requeriments would there be in that case?



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Old 08-30-2017, 07:37 PM
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Originally Posted by rui_alexandre View Post
Thank you for your reply. I had the doubt of reading "or", but apparently it really is a choice.

Still inside the subject, if the corporation was not from the US, it wouldn't need to fill form 720, just 4136 for the annual refund? What extra requeriments would there be in that case?
Form 720 is a quarterly form. For Quarterly Federal Excise Tax Return, you need to use this form to report and pay the luxury tax on passenger vehicles, environmental taxes, communications and air transportation taxes, fuel taxes, manufacturers taxes, ship passenger taxes, and certain other excise taxes If you file an annual claim, you would need to use Form 4136 which would be filed with your annual income tax return;Non US corps file form 4136 for FET . You need to enter the total income tax credit claimed on Form 4136.



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