The Internal Revenue Service is encouraging tax preparers to take a new competency exam as soon as possible.
To date, over 4,800 people have become Registered Tax Return Preparers, according to the IRS. The IRS is urging an estimated 340,000 preparers required to take the test to do so as soon as possible so they will have more time if they need to retake the test and to avoid a potential flood of last-minute test takers. Continue reading
Last year, The Internal Revenue Service announced that they will not be mailing Form 2290 to taxpayers. This step was taken due to the increase in electronic filing. Although the IRS Requires Trucking Companies with 25 or more Heavy Vehicles to e-file, the IRS actively encourages everyone needing 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. Continue reading
Effective May 21, the IRS will begin issuing only one EIN (employer identification number) per responsible party each day, a change from the current limit of five per day. This limit applies to all requests for an EIN whether online or by phone, fax or mail. This policy was implemented to ensure fair and equitable access to all applicants with legitimate tax administration-related needs. It also ensures the EIN system continues to operate effectively. Continue reading
When you have Vehicle identification numbers(VIN) of up to 17 characters with mixed numbers and letters, mistakes
happen. For example, You type 5 instead of S. Let’s say that you file form 2290 and pay $550 to IRS and get your Schedule 1 You take it to the DMV or the Carrier, then you realize that the Schedule 1 has the wrong VIN. What do you do? Continue reading
Tax season is among the most dreaded times for businesses. If you have a firm that owns a fleet of trucks, its time to know about the tax form 2290.
How important is tax form 2290? : If you drive a vehicle, you’ve probably experienced the ups and downs of highway use. Highways can sometimes be in good condition and at other times in bad shape. Such things happen as certain roads degrade due to the large amount of vehicles passing through it on a daily basis. In theory, more heavy vehicles passing on roads imply more weight put on pavements. Weight increases the natural wear and tear and inevitable destruction of highways. Continue reading