Altering a Tax Form: Don’t Do It!

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.

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Year End Record Keeping

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.

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PTIN Renewal

PTIN Basics

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!

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IRS Notice Decoder – Canadian Postcard

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.

 

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Suspended Vehicles Proof Reminder

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.

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Penalties? Interest? Oh, My!

You’ve filed and paid for the Form 2290. You may or may not have known that you filed late and now the IRS is charging you penalties and interest. What do you do now?

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Correcting a VIN

You have spent a lot of time collecting all your tax information, filing the Heavy Vehicle Use Tax, and you finally received your stamped Schedule 1. To your surprise and dismay, you see that a typo was made in the VIN. Where do you go from here?

Thankfully, we offer VIN corrections at no charge. “No charge” meaning completely free– you don’t pay us anything and you don’t pay the IRS any more taxes.

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Before Filing the 2290 Online

To make the filing process quicker and easier, I recommend you gather your information before you start. This will make filing the Form 2290 online even simpler than it already is.

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