Your Way or Theirs?
Every business needs to ask themselves this question:
Which way are we likely to get more of our money back: accepting whatever FET "estimation method" the IRS comes with, or using a service like UAC to calculate the exact amount we're owed? Is it worth investing 20% of our refund (UAC's fee) to get the full amount we deserve?
Make a decision now about which option will work best for your business. If you choice is to get all of your FET refund, contact UAC now and have the results in time for tax season.
posted by Mark Horner @ 3:38 PM
2 comments
2 Comments:
The IRS is offering $30 - $60 in FET refunds to individuals based on number of dependents. That's an average of $45. Research by experts using FCC information indicates that average is actually closer to $70. So, the IRS is offering to refund individuals 64% of the FET they paid. Individuals have the right to research 41 months of past phone bills and claim the actual amount they paid, but how many people keep old phone bills for three years?
Here's my concern: When/if the IRS comes up with an estimation method for businesses to use, why should we believe it will be any more realistic than the offer they're making to individuals?
Businesses such as mine stand to lose thousands of dollars in FET refunds we're owed if we use whatever method the IRS comes up with.
What are we supposed to do?
Good question. You're right, based on the IRS' math for individual refunds, businesses could lose thousands of dollars if they choose the IRS opt-out amount when/ if it's offered.
UAC can help. Our FET Refund Preparation Service (see post below) guarantees that your business receives the full refund it deserves. Our experts will do all the work themselves, examining your old records for the actual amount of tax paid and completing a report with the precise figure for you to claim. Best of all, our fee is based on your recovery--
which, in many cases, can be covered by the interest you'll earn from the IRS.
For more information on UAC's FET Refund Preparation Service, visit us online at www.utilityauditco.com.
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