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.
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.
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.
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.
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.
Did you know there is an e-file Grace Period on Form 2290? OK – so it’s not exactly a “Grace Period.” The IRS calls it a “Transmission Perfection Period.” They talk Fancy-Shmancy!
It’s happening once again. The IRS is shutting down for Labor Day.
The Official IRS Due Date this year is Tuesday September 2nd. But thanks to this shut down – that’s going to be a very tight squeeze. Please try and get your 2290’s done by Friday August 29th by 5:00 PM Pacific Time – before this shut down starts just to be safe. We’re happy to try and help you get out of any penalties and interest – but it’s better if they don’t get assessed in the first place.
This happened! A friend of 2290Tax.com painted a picture for us when we moved into our new offices on Route66. How he came up with the idea is a whole other story, but it got me to thinking…why haven’t I ever seen a real stamp like that? I’d buy that stamp in bulk and use it for all our mail – if such a stamp existed! The message is right on – Truckers are “First Class Forever” in our eyes.