Fuel Tax Solutions

Fuel Tax Solutions

By Manchester Financial Group Inc.

Description

Fuel tax refunds are available under Internal Revenue Code Section 6421 for federal excise taxes paid for motor fuels used for an exempt purpose (a non-taxable use). The taxes are designed to apply only on fuel used in vehicles and equipment used on roads and highways. Taxes that are paid on fuel purchases for fuel used to power vehicles and equipment not used on roads and highways can be refunded. Common situations involve taxes paid on fuel used in farm equipment and certain boats, trains and airplanes. Use the app to record exempt fuel purchases by saving (and optionally scanning) an image of the purchase receipt, where available, and the other information needed to calculate and support a fuel tax refund. Then use the app to generate the refund claim (IRS Form 8849, Claim for Refund of Excise Taxes and Schedule 1) once the refund threshold (generally $750 per quarter or quarters if two or more quarters must be aggregated to attain the $750 threshold) is attained. Download scanned receipts and related supporting information in order to satisfy the applicable substantiation requirements. View receipts and relating supporting information in the App. Use the data to support any similar state fuel tax refund or credit claims. All fuel types supported, including Gasoline, Undyed Diesel Fuel, Undyed Kerosene, Alternative Fuel, Diesel-Water Fuel Emulsion, Exported Dyed Fuels and Gasoline Blendstocks. – Sixty (60) day free trial provided. At the end of the sixty (60) day free trial period, you will be given the opportunity to subscribe on a monthly basis to continue using the features of the app • 60 day free trial period; monthly subscription thereafter. • Payment will be charged to iTunes Account at confirmation of purchase. • Subscription automatically renews unless auto-renew is turned off at least 24-hours before the end of the current period. • Account will be charged for renewal within 24-hours prior to the end of the current period, and identify the cost of the renewal. • Subscriptions may be managed by the user and auto-renewal may be turned off by going to the user's Account Settings after purchase. • Any unused portion of a free trial period, if offered, will be forfeited when the user purchases a subscription prior to the end of the free trial period. – You may review the Apps terms of use at https://www.fueltaxsolutions.com/termsandconditions.html – You may review the Apps privacy policy at https://www.fueltaxsolutions.com/privacypolicy.html.

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