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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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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2290 Instructions Simplified

The IRS hasn’t been known for making anything simple. Like, at all. Ever. In all their existence. When it comes to the Form 2290 instructions, it’s okay that the IRS is not simple because you have me to make it simple for you.

My goal of this article is to take IRS jibberish that seems to be written in this fashion-

IRS: The motor vehicle parked adjacent to the standing infrastructure on the northeast corner of the 1600 block is painted by an irrelevant painter *insert irrelevant name here* to whom chose the shade of red to coat the exterior portion of the motor vehicle to give it a distinct, vibrant shade according to the 11th jurisdiction of the United States.

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IRS Form 2290 Instructions: Recordkeeping Requirements

Do you know what records you need to keep? Do you know how long to keep them? The Form 2290 Instructions talk a lot about it this year.

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Trouble Getting Your Tags?

I talk to drivers every summer who are struggling to get their truck registration renewed. June is an especially bad month because it seems that some states require the 2290 before it’s even available for filing.

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