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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Tax Tips: Avoid Scammers

The IRS recently published the “Dirty Dozen” tax schemes that they are seeing most commonly this year. Below I’ve simplified and highlighted the key elements in these scams. Just remember that if it looks too good to be true it probably is. Play it safe and keep reading to learn how to protect yourself from these scams.

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IRS Notice Decoder – Form 2290 Proof for Suspended Vehicles

The IRS said they would begin auditing Form 2290, and we’re starting to see it happen when suspended vehicles are reported. It seems the IRS is looking for PROOF that the mileage stayed below the maximum limit, and they are assessing taxes if the documents they want aren’t provided or if the documents provided indicate the vehicle traveled in excess of the mileage limitation.

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IRS 2290 Notice Decoder – Bank Payment Error

Ever wonder what happens if you choose to pay 2290 taxes with a bank account debit, and the transaction fails?? If everything goes according to plan, the US Treasury will notify you in writing with the notice below. Pay special attention because this comes from the US Treasury and not the IRS.

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IRS 2290 Notice Decoder – HVUT Penalties and Interest

Penalties and Interest are a bummer. Sometimes it’s unavoidable, sometimes it’s not that bad, and some times you can get out of penalties. But it’s always a bummer to get this piece of paper in the mail.

It’s usually a 5 page notice, depending on how many trucks you have, and how complicated the math gets. If you get one of these in the mail, don’t despair! We’re here to help – and the news isn’t always a grim as you might think.

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IRS 2290 Notice Decoder – Form 2290 Schedule 1 Not Received

IRS notices are always super confusing for me the first time I see them. This notice is no exception, the first time I saw it I was really really confused. Funny enough, it turns out this notice means that the IRS is confused. So we’re all in the same boat together!

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IRS 2290 Notice Decoder – Adjusted Tax Computation

The Adjusted Tax Computation Notice is the most complicated of all the notices I get questions about – so I’m going to start here and get the difficult stuff over with. Each Adjustment is different but only a few require action. I talk about that in more detail below, but first, how do you know what notice you have?? You can tell this notice from the others because it should expressly say, “Statement of Adjustment to Your Account,” on page 1.  This IRS Form 2290 Notice is 4 pages and looks a little something like this:

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Form 2290 IRS Penalty Notice

The calls have been poring in recently about Form 2290 IRS Penalty Notices – and for good reason. It seems that the IRS issues these notices through a computer program, and if both taxes and the form aren’t received by a specific time on a specific day, that computer program automatically sends a penalty notification. Even if your information was received by the IRS 10 seconds after that computer program ran.

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