2015 IRP Annual Meeting – Day 1: Monday May 18, 2015
Folks are still flying in from all over the US and Canada to attend the 2015 IRP Annual meeting in Savannah, GA. While the meeting officially kicks off on Tuesday, there were two different all-day committee meetings today. The first was discussing Jurisdictional Peer Reviews, and the second was the IT and Data Committee meeting. I attended the IT and Data Committee Meeting.
It was just announced by the American Trucking Association, that the Trucking Industry generated $700 billion in revenue for the first time in history last year. The industry had not come close to generating that figure since 2008 peaking at $660.3 billion.
As defined by the IRS, the 2290 Tax Form is used to:
Calculate and pay the tax due on vehicles that weigh (fully loaded: tractor and trailer) 55,000 lbs or more.
Claim suspension from tax for a vehicle that weighs (fully loaded: tractor and trailer) 55,000 lbs or more that is expected to be used 5,000 miles or less (7,500 miles or less for agriculture vehicles) during the taxable period
Did you know there are trucks that weigh more than 55,000 lbs, and travel more than 5,000 miles, that DON’T need to file Form 2290? There are a few special kinds of trucks that the IRS doesn’t consider “Highway Motor Vehicles.” We will cover two Categories, but they are all tied together by one key element: Non-Transportation Function.
Vehicles that drive themselves. Seemingly, a concept straight out of the Jetsons. But is our technology advanced enough to make this possible? Well according to Mercedes-Benz, Audi, and Google we can expect to see self driving vehicles on our streets like tomorrow! Well not really, but they are close.
I recently attended the IFTA/IRP Annual Audit Workshop and it was a gas! I know not everyone can make it to these workshops so I wanted to share what I learned. Each bold heading below was an item on the agenda. Over the next three days, I’ll post up the notes I took for each day. I hope this is helpful to you! If you have any questions, or want to talk to me about the meeting, please call! I have copies of the agenda, the audit report, and many other fun things to share!
Date: Tuesday February 24, 2015
Location: Menger Hotel, San Antonio TX
It has come to our attention that their has been a certain Nikki Johnson contacting people via phone demanding that they pay taxes owed to the IRS. Nikki Johnson threatens that if the taxes are not payed they can face jail time. Our customers that have made us aware of this situation, call us concerned because of course they do not want to be arrested or get into any kind of trouble with the IRS.