The Service Tax Code Number is a 15-digit code, based largely on the PAN number of the assessee….How to Understand Service Tax Number Structure

1. Digits 1 to 10 will be the PAN or TAN Number.
2. Digits 11 and 12 will be XM.
3. Digits 13 to 15 will be the number of registrations issued against that PAN or TAN, starting with 001.

Do I need to file a tax return for an C corp with no activity?

The corporation will submit what is commonly called a “zero return.” To file a corporate tax return with no activity, you’ll need to use the regular corporation income tax return known as IRS Form 1120. Form 1120 instructions are the same for profitable companies and companies that are not transacting business.

Can penalty for late filing of service tax return be waived?

If service tax is paid along with interest and reduced penalty within 30 days of service of order, then 25% of penalty should be paid as mentioned in the order. The penalty can be waived off on submission of valid documents which describes a proper reason for the delay or non-payment of the service tax.

What is current service tax?

The rate of tax to charge depends on the place of supply. The current rates are: 5% (GST) in Alberta, British Columbia, Manitoba, Northwest Territories, Nunavut, Quebec, Saskatchewan, and Yukon. 13% (HST) in Ontario.

Is there a 10 year time limit to file taxes?

It’s only after you file your taxes that the IRS has a 10-year time limit to collect monies owed. State tax agencies have their own rule and many have more time to collect.

What happens if you don’t pay taxes for 10 years?

If you don’t file and pay taxes, the IRS has no time limit on collecting taxes, penalties, and interest for each year you did not file. It’s only after you file your taxes that the IRS has a 10-year time limit to collect monies owed. State tax agencies have their own rule and many have more time to collect.

How does the IRS work with people who have not filed taxes?

This affects individual taxpayers who have not filed tax returns, but whose available income information shared with the IRS indicates a significant income tax liability. As part of the ASFR program, the IRS sends notices to these taxpayers alerting them to the potential liability.

When to report cash income to the IRS?

If your employer made a mistake, they have to give you a W-2c (corrected W-2) for you to file your taxes properly. If you received cash for dog walking or babysitting for example as part of self employment, then you should include the amount on your Schedule C. Thoughts on Cash Income Don’t be worried when it comes to filing taxes.