“As far as Athens is concerned, I also think about all those people who are trying to escape tax all the time. All these people in Greece who are trying to escape tax. – Christine Lagarde. It is not wrong to have a thought to hold on to your hard earned money as long as possible, but one should make sure that they file & pay their taxes on or before the deadline to safeguard themselves from IRS penalties & interests. Continue reading
Most of the drivers get nervous when they see the flashing lights of a police car on their rear view mirror. Of course, who would like to get pulled over when we are rushing towards our destiny? You like it or not it’s mandatory to show the officer that you are cooperating. The next second those lights come on, make sure that you are being observed and the way you react will decide whether you are going to end up in a problem or not. Continue reading
“There is more credit and satisfaction in being a first-rate truck driver than a tenth-rate executive” — B.C. Forbes. Anyone in the Trucking Industry will sure accept to this. Along with credit and satisfaction comes huge responsibility because the loads that they transit are not their property but they take complete ownership of the timely delivery and for the condition of the goods they carry on their heavy rigs.
Not only the goods they transit become their responsibility, but they have to take care of many things other than that as well. First comes the Vehicle itself, they have to maintain their vehicles and it should be in proper shape to hit the high ways. Trucker’s health, they have to be fit and fine to handle the load and the vehicle. Family Of course, which is the reason they work so hard and stay mostly on the road. Continue reading
Few years back, The Internal Revenue Service announced that they will not be mailing Form 2290 Package to Federal Excise tax Form 2290 taxpayers. This initiative was taken to encourage electronic filing (E-filing). Although the IRS has mandated Trucking Companies with 25 or more Heavy Vehicles to e-file, the IRS actively encourages everyone Trucker to file the Form 2290 electronically. The IRS has legitimate reason to do this because filing electronically is the quickest, easiest, and safest way to file tax returns.
Fortunately, it has become incredibly easy to Efile Form 2290 or other Tax forms associated with the Heavy Vehicle Use Tax (HVUT) such as Form 8849 Schedule 6. All you have to do is log on to www.Tax2290.com and start filing. You can file your for Form 2290, 2290 Amendments, Form 8849, Form 720, and Prepare your Fuel Tax report (IFTA) through www.taxexcise.com. Continue reading
IRS tax Jargon’s are pretty complicated to decode, today let’s throw some light on the term “SUSPENDED VEHICLES”. Taxpayers mostly get confused with the term Suspended vehicle, reason is very simple as per their understanding they think it means any vehicle that they take out of service is defined as suspended vehicle. That’s absolutely incorrect. So what does it mean?…
SUSPENDED VEHICLE: As per the IRS the term Suspended vehicle means, vehicles that are suspended from taxes in other words tax exempt vehicles. Any heavy vehicle with a gross weight of 55,000 pounds or above needs a Form 2290 filed for it by its respective owner. But the IRS has defined some distance speculations to determine whether the vehicle is taxable or Suspended (Tax Exempt). Continue reading