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ProSeries
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ProSeries Basic
As a result of the recent enactment of the Tax Technical Corrections Act of 2007, individual e-filing will not be accepting Form 4136, Credit for Federal Tax Paid on Fuels, for Tax Year 2007, until March 3, 2008. However, federal individual tax returns that include Form 4136 can be filed on paper by mail now.
If a federal tax return has a penalty for underpayment of estimated tax and also contains Form 4136, some or all of the underpayment penalty may be due to the delay by the IRS to accept electronically-filed returns until March 3, 2008. A waiver of the underpayment penalty due to this delay can be requested on Form 2210.
On February 22, 2008, the IRS issued News Release IR-2008-24, announcing that agricultural industry taxpayers, farmers and fishermen, who electronically file Form 1040 returns with Form 4136, Credit for Federal Tax Paid on Fuels, must wait until March 3 to e-file the newly-revised Form 4136.
Normally, 1040 filers who are farmers or fishermen are not required to make an estimated tax payment if they file their return and pay all taxes due by March 1. But this year, because March 1 falls on a Saturday, the date extends to Monday, March 3. For eligible farmers and fishermen who attach Form 4136 to their Form 1040, the return will be considered timely filed with all tax paid if the return is e-filed and accepted on or before March 10 and all tax due is paid on or before March 10. For more information, please visit the IRS Web site.
Additional Information