Did you know that 6.8 million people in the U.S. are employed within the Trucking Industry with nearly 3,500,000 truck drivers. That may seem like a lot but in reality the Trucking Industry is facing massive shortages in truck drivers. In fact, the shortage is estimated to be about 25,000 truck drivers in the U.S. There aren’t enough truck drivers to meet demand. As the economy flourishes, the need for experienced and reliable drivers is expected to increase. As a result, an increase in wages for our hard working truck drivers is also expected to increase.
Continue reading “Truck Drivers Needed”
The California State Board of Equalization has issued the Diesel Fuel Tax Law section 60212 that waives penalties and interest for late 4th quarter 2014 filing. Due to the new return processing system introduced in late 2014, the Motor Carrier Office has not been able to assist agents and taxpayers in a timely manner. As a result, taxpayers and agents have not been able to file returns on time. The Board issued a statement saying that “if your fourth 2014 (4Q14) filing has been delayed due to board staff not being able to assist you in a timely manner, you may request relief from penalty and interest.” The Board will not penalize any one due to their “unreasonable error or delay.”
Continue reading “California State Board of Equalization: 4Q14 Relief”
It isn’t unusual to make mistakes on a tax form so don’t feel like you are the only one. The good thing is that there are ways to correct them. Filing an amended tax form is an option that is available to correct a mistake. Their are only three types of corrections that can be made electronically: vin correction, change in vehicle weight, and mileage limit exceeded, however any other type of corrections can be submitted through paper form.
Continue reading “Altering a Tax Form: Don’t Do It!”
Decals have often been the source of frustration for many hard working truckers. Decals are stickers issued by a state agency that are attached to the exterior of a truck. They validate its current permission for operation in compliance with the law. IFTA is exploring the idea of going digital to eliminate the need of decals.
Continue reading “Electronic Systems Possibly Replacing IFTA Decals”
Being a trucker can be a pretty thankless job. However, here at 2290Tax we know that trucking is the backbone of America. From food to clothes to electronics and medicine – if you’ve got it, then a trucker brought it! But a lot of people might not realize just how vital truckers are to our everyday way of life. This is our salute to big rig truckers everywhere – America’s unsung heroes.
Share this with your friends and family! Some of these statistics might (or might not) surprise you!
Continue reading “Big Rig Truckers: The Unsung Heroes of American Transportation (Infographic)”
What a year it has been! As the year wraps up, it is the perfect time to make sure you have good records when entering the New Year. You never know when you will receive an audit from the IRS, and keeping good records will help prepare you for this.
Continue reading “Year End Record Keeping”
A Preparers Tax Identification Number (PTIN) is an IRS business tax identification number issued to paid preparers of U.S. federal tax returns, like the Form 2290. Anyone who receives compensation for preparing tax returns is considered a paid preparer and must have a PTIN issued by the IRS.
PTINs were created to protect the privacy of the tax preparers. Many years ago, paid preparers were required to use their Social Security Number (SSN) to sign documents- which wasn’t very safe!
Continue reading “PTIN Renewal”
Many Canadians have been receiving the post card below. To most, this probably isn’t big news. But to a few, and especially with the new FRP plan getting started, it’s a big change. This article is mostly for Canadians – but is probably good advice for anyone who wants to cross the US/Canada boarder.
Continue reading “IRS Notice Decoder – Canadian Postcard”
Suspended vehicles are vehicles that travel less than 5,000 miles on public highways (7,500 miles for agricultural vehicles). These types of vehicles still need to file a Form 2290, but will owe $0 in taxes. Since there is no tax amount due to the IRS for these kinds of vehicles, the IRS wants proof that your vehicle travels under that mileage limit.
We have been noticing more and more of our customers who have filed suspended returns get audited by the IRS and did not have the right kind of proof to defend themselves. We don’t want this happening to anyone else.
Continue reading “Suspended Vehicles Proof Reminder”
Did you get a penalty notice – but you KNOW you filed, and you KNOW you paid your taxes? Well then you, like many others, may have gotten a mistaken penalty notice.
Continue reading “Does That Penalty Notice Look Funny to You?”