Wednesday, May 22, 2019

Do You Need To File a Form 8849?

Man with great hair wearing a flannel uses laptop and iPhone

If you’re new to trucking the numbers used for necessary forms may be a bit overwhelming. There’s the 2290s, 8849s, 4868s, 1099s, and 123s, we might be exaggerating with the 123s, but you get the gist, it’s a lot of forms and a lot of numbers to remember. We won’t bore you and got through each form 1 by 1, but we will tell you about the two most relevant ones for this filing period.

What is Form 2290?

The form that you have probably heard the most about, as of late is Form 2290. So what is Form 2290, and how does it relate to you, if at all.

Form 2290 is used to figure and pay the tax due on highway motor vehicles used. Your next question is probably does it even apply to you, and the answer is it might. All vehicles with a taxable gross weight of 55,000 pounds or more than travel by highway are required to file Form 2290.

After paying taxes you will be given a Stamped Schedule 1 that serves as proof of payment from the IRS. This document is important, as it is needed in order to register your commercial vehicle.

Do You Need to File Form 8849?

There are exemptions and claim suspensions that apply to some vehicles meeting certain requirements. The requirements are as follows:

The vehicle used 5,000 highway miles or less during the period.
The vehicle is an agricultural vehicle and used 7,500 miles or less during the period.
The Vehicle was stolen during the period
The vehicle was destroyed during the period
The vehicle was sold during the period

Woman with red and white stripped shirt sits in office on a rose gold iPhone and uses a MacBook

The above list leads us to the importance of Form 8849. If any of the above is true about a vehicle you owned then you must first file a Form 2290 and pay the correct amount of Heavy Vehicle Use Tax (HVUT) and then complete the Form 8849.

Claims and Refunds

In order to claim credits or refunds for vehicles stolen, destroyed, sold, or only used for 5,000 miles or less and 7,500 miles or less for agricultural vehicles, the Form 8849 is required. The things you’ll need to file a Form 8849 are your name, address, details on the vehicle you are seeking a claim/refund for and your Employee Identification Number (EIN). Be sure to double check that the EIN you are using is consistent with what the IRS has on file.

*If an EIN is needed you are able to apply for one online with the IRS.

File With ExpressTruckTax

The great thing about our sister company, ExpressTruckTax is that it makes all of your Form 2290 filing simpler. It even gives you a chance to auto-generate a Form 8849 if you are in need of one for the current filing period.

Last Minute Gifts For A Truckin' Mama

Mother’s Day is right around the corner, and if you haven’t gotten a gift for the trucker mom in your life, we have you covered. Waiting to the last minute isn’t always ideal, but here at ExpressIFTA, we take into consideration the hard working individual you are. Here are a few last minute gift ideas proven to make any long-hauling mother feel loved and appreciated.

Insulated Coffee Cup

Every super mom has to get her superpowers from somewhere, and we can bet the heroine in your life uses caffeine as her kryptonite. Insulated coffee cups can also be personalized to say her name or her kid's name. This gift may be last minute, but we’re sure that it’s something she’d use for a lifetime.

Rig Wash

What better way to say ‘thanks to giving birth to some pretty cool babies’, than by washing her pretty cool baby. Bring out the hose and get the suds going for a good ol’ car wash, or should we say rig wash. Try saying that 3 times fast.

Entertainment Subscription

Whether the trucking mom you’re honoring this year is into music, podcasts, movies, or motivational books you can never go wrong with paying for a subscription for one or more of her favorite entertainment outlets. Depending on your budget you can score her anywhere between 1 month, 12 months or 24 months, of road entertainment, on you.

Digital Photo Frame

Every mama bear hates to leave her cubs. With a digital picture frame for her cab, she can feel like her tribe is right there with her. Take the time to download photos of each family member prior to giving it to her to make this gift even sweeter and thoughtful.

Shower Bag

A swagged out shower bag full of your special trucking ladies’ favorite toiletries will have any trucking mom singing your praises and singing in the shower.

Help Her Pre File Her Form 2290

Working moms have it hard. Working trucker moms have it the hardest. Keeping up with recitals, dentist appointments, and household chores, while on the road isn’t for the weak. Although she may be capable to take on the world with one hand behind her back, it doesn’t mean that she should have to. File as early as TODAY with Truck Services of North America. She won’t have to worry about her Form 2290 until 2020. Talk about a gift that keeps on giving!

R&R

You know it and we know it. That trucking mom in your life needs a bit of rest and rehabilitation. The woman in your life works day in and day out and time for herself is something that never makes it on the to-do list. Take care of her task for a day and make sure she’s able to carve out some time for herself.

A Bed Fit For A Queen

Speaking of rest, your trucker queen needs to be able to experience a good night's sleep before she hits the road. Purchase her a new mattress or a quality mattress topper to make her night’s away from home a little more comfortable.

Polarized Sunglasses

Everyone can attest that their trucking mama is a star, but even the most glamorous of them need protection from the sun. As we edge into Summer the need for shades is essential for drivers on the road for up to 12 hours a day. Polarized sunglasses will keep the sun from blasting in their eyes. Be sure to get your star a pair that fits their personality and maybe grab a personalized case to match.

Snacks

Fill up a basket with some of your favorite driver’s go-to snacks. We all have comfort food we gravitate toward and making sure that she’s stocked up can make all the difference on some of her worst days.

There is no excuse for not knowing what to do or what to get for the special trucking lady in your life. The price range of these gifts start at just under zero dollars and zero cents, so there's bound to be something within your budget. We hope that this Mother’s Day is one to remember with family and friends.

Happy Mother’s Day to your family, from ours.

As always, keep truckin’ mamas!

Exemptions That Can Save You Big Money When IFTA Filing

We are days away from the 1st quarter reporting due date, April 30. Making sure you file your quarterly IFTA forms correctly can save you from audit and make sure you aren’t paying too much. As part of getting the correct amount back it’s wise to be up to date on non taxable and exempt IFTA miles.

What IFTA Reporting Is For

The International Fuel Tax Agreement (IFTA) is a tax collection and sharing agreement between certain jurisdictions that redistribute fuel taxes paid by interstate commercial carries. IFTA requires commercial carriers to pay fuel taxes proportionally, according to the miles traveled to and from each state, and or province. This is put in place to ensure that each IFTA member gets its fair share of revenue to put towards transportation and roads.

Non-IFTA Jurisdictions are where IFTA credentials do not matter.

Non-IFTA Jurisdictions:

Alaska

Hawaii

District of Columbia

Yukon Territory

Northwest Territory

Nunavut

Mexico

Each jurisdiction has its own unique definition of non-taxable mileage or exemptions. Any of the miles that fall under IFTA jurisdictions are considered non-taxable miles. To see what all applies you can visit the IFTA site. There are three kinds of exemptions, vehicle exemptions, fuel exemptions, and distance. They can vary from year to year, so staying up to date will be beneficial.

There are some states that allow exemptions for driving in certain areas, these could be Indian reservations, private roads and land, certain toll roads, etc.

Most turnpikes are taxable and non-exempt. The only two that are not is the Massachusetts Turnpike and the Cobequid Pass Toll Highway. Carriers that claim these as exempt or non-taxable on their IFTA reports are required to keep the receipt as proof.

Who Pays IFTA Tax

Anyone who operates a vehicle with 2 axles and a gross weight or registered gross vehicle above 26,0000 pounds.

Anyone who operates a vehicle with 3 or more axles (regardless of weight).

Anyone who operates a vehicle with a combined weight of 26,000, including cargo.

*If you DO NOT operate outside of your state IFTA does not apply to you.

It is also important to note that even if the carrier has not conducted any operations or used taxable fuel for a particular period, a report must still be filed.

Quarterly Tax Reporting Period

*If the last day of the month falls on a Saturday, Sunday or legal holiday, the next business day will be considered as filed timely.

Extend Your Tax Day Deadline

The Application for Automatic Extension of Time to File U.S Individual Income Tax Return, better known as Form 4868, extends the deadline of the income tax return as far as six months. This means you won’t have to submit tax documents until October 15th, 2019.

The deadline to submit a Form 4868 is on Tax Day, April 15.

Form 4868 is for anyone who feels like they can’t meet the deadline. We get it and so does the IRS. Things happen, documents go missing, and time gets away from you.

It is vital to note that Form 4868 only pushes back the filing of your tax documents. It doesn’t give you extra time to pay any taxes that you might owe. If you think you may owe money this year you’ll need to estimate the amount after filing for your extension.

Three Ways To Get An Extension

1. Pay electronically: When you choose this method you don’t need to file Form 4868. By making a payment the IRS will automatically process an extension of time to file when you pay part or all of your estimated income tax electronically. This can be done online or over the phone.

2. E-File: When you e-file you can do it on your personal computer or through a tax professional. Be sure to have a copy of your previous tax return. This information will be needed for verification. At this time you can choose whether or not to make a payment online, or send it in via postal mail.

3. Paper filing: With paper filing, all you will need to do is fill out a paper Form 4868. You can choose to send it into the IRS in two ways. The first way is through the mail and the other would be through a private delivery service. Be mindful that if you are a fiscal year taxpayer, you must file a paper Form 4868.

If you are unsure on whether you can make the deadline it is important that you file an extension to be on the safe side. Choosing to file late can get pretty costly. The penalty can bee 5% of the unpaid taxes for each month or partial month it is late. If the return is more than 60 days late, the minimum penalty is $135 or 100% of the unpaid tax, whichever value is smaller.

What Filing A Form 4868 Means

Did you know that filing an extension doesn’t put you at higher risk of being audited? Generally, an extension is issued automatically and they won’t hassle you about why you are in need of an extension. So there is no need to pull out the old faithful, “My dog ate my homework” excuse.

Take the time to put in your extension today. We’d rather you be safe than sorry before paying some pretty costly penalties.

Habits You Should Adopt To Avoid Being Audited

When it comes to truckers who have never gotten audited we promise their trick isn’t to just sit around with fingers crossed hoping to avoid it. Those particular truckers have more than likely implemented quarterly habits to help make sure there are no red flags on their reports.

The deadline for 1st Quarter IFTA reports is April, 30. We want to ensure you fall in line with truckers passing quarterly reports with flying colors, so we’ve made a blog for you to follow for the next few weeks to make sure auditors won’t be heading your way.

Don’t Make Estimates

The time it takes to be detailed when filing IFTA Tax Reports can be overwhelming, making the idea to guesstimate the miles traveled and the average MPG for your fleet a go-to method. This however, is one of the number one actions that can lead to an audit. Inaccurate estimates raise significant red flags. Truckers are required to provide precise records of mileage and fuel use.

Don’t File Late

Not only does late filing lead to penalties in the form of late fees, but it can also lead to significant mistakes. Waiting to the last minute adds stress and can make you feel rushed. Plan ahead so that you may take your time and even have room for your work to be checked over by another pair of eyes.

Review Trip Sheets

Keeping up with your trip sheets will make filing a lot simpler if you stay organized throughout each quarter. After each trip, make sure you are giving precise data, as mentioned earlier. Make sure you have zero gaps by including personal miles in your report. This step is important because discrepancy in your mileage reports may come off as if you are hiding something. Your trip to run small errands matter, even if it’s to the closest McDonald's. (Although we understand why you might want to hide that one.) It can also be easy to forget to record your end of the day mileage, but it’s vital to keep a record so that it matches your beginning of the day.

Be MPG Aware

Your MPG can fluctuate due to a number of factors. Weather, speed, idling, cargo weight, and road conditions. Keeping an eye out for changes in MPG will allow you to have better accuracy in your reports.

Keep Calm and Drive On

By adding the above habits to your daily work life, you eliminate a lot of stress that comes with filing an IFTA report. Audits can be terrifying. If you happen to get audited the best thing to do is remain calm and communicate. Remember that an audit is genuinely just a way to gain clarity; it is not a personal attack. Don’t avoid phone calls and emails, but be concise with your answers and keep in touch with your auditor. The calmer you are in approaching an audit, the smoother the process will go.

Everything You Need To Know About The IFTA Deadline!

The 1st Quarter IFTA Deadline is April 30th!

But don’t forget your 1st Quarter IFTA Reporting deadline! Tax season can easily be the most stressful time of the year for many people, particularly for those who own their small business. Fuel tax can be particularly complicated.

If you’re late getting your 1st Quarter IFTA report together, we have the perfect solution to your IFTA filing problems!

Our sister product, ExpressIFTA, makes it easier than ever to file your IFTA reporting online in moments. You can generate your IFTA fuel tax report and use it to complete your return. They also have loads of information and 24/7 US-based customer support to keep you up to speed!

IFTA Reporting Made Easy!

You may be asking yourself, “so what exactly is this IFTA and why do I have to file one every quarter?”

IFTA, or the International Fuel Tax Agreement, was put in place by the lower 48 United States and 10 Canadian provinces. The idea was to simplify fuel reporting for those who use qualifying motor vehicles that travel between two or more jurisdictions.

Before IFTA was put into place, each state had its own rules and regulations to comply with. Fuel reporting was a complicated mess for everyone. Now each jurisdiction adheres to the quarterly IFTA report. IFTA reports determine the net tax refund that’s due and redistribute taxes from collecting states to states that owe.

Ok, enough of the history lesson. What exactly does that mean for you?

First, you must apply for your IFTA license with an IFTA application, and keep it visibly displayed in your cab at all times once you receive it. You also will receive an IFTA sticker that needs to be placed on your driver door. And then there’s your vehicle itself.

Your vehicle qualifies for IFTA if it travels between two or more jurisdictions and fits any of the following descriptions:

Two axles and a gross vehicle weight of 26,000 pounds or more
Two axles and a registered gross vehicle weight of 26,000 pounds or more
Three or more axles regardless of weight and/or exceeds 26,000 pounds or more in gross vehicle weight or registered gross vehicle weight

In order to complete your IFTA return you need to provide the following information:

Total miles traveled per jurisdiction
Total tax paid gallons of fuel purchased per jurisdiction
Total gallons of fuel used per jurisdiction
Current tax rate per jurisdiction

And remember, you have to file your IFTA returns four times a year - wouldn’t that be easier with some help at your fingertips? Well believe it or not, but today is your lucky day! ExpressIFTA can make your 2019 1st Quarter IFTA reporting a breeze!
File Your IFTA Report Today With ExpressIFTA

ExpressIFTA will use your IFTA records to automatically calculate all of your IFTA totals with 100% accuracy. ExpressIFTA will then generate an easy-to-read quarterly IFTA report containing everything you need to instantly complete your return with your base jurisdiction. It can be downloaded, emailed, and printed in seconds! Since its the deadline, they even have a convenient bulk upload feature to file all your information at once!

Time is running out! Get started today by clicking the link now to easily file IFTA before the deadline.

File Your IFTA Report Now!

The 4th Quarter IFTA Deadline is Here

We hope you are ready because the time has come: the January 31st 4th quarter IFTA deadline is almost here. This means that you need to file your IFTA report with your base jurisdiction or you’ll have outrageous penalties to face.

This could put you in a state of panic because, historically, IFTA has been a complicated process. Do you have time to set aside hours to calculate all of the IFTA totals needed to complete your return? If not, don’t worry. ExpressIFTA, the quick and easy online IFTA reporting solution is here to help.

4th Quarter IFTA Deadline: Jan 31st

Our goal at ExpressIFTA is to make the IFTA reporting process easier and faster to save you time. That’s why we’ve made it incredibly easy to import all of your information. Then we will use the data you enter to calculate all of your IFTA totals with 100% accuracy.

IFTA Reporting Instructions

All of your information will be generated in an easy-to-read IFTA report that can be printed, emailed, and used to complete your IFTA return with your base jurisdiction instantly. Best of all, the entire process can be completed in a matter of minutes!

To get started today, simply create your free account using your email address. You will register with your name, contact information, and primary language. We offer support and services in both English and Spanish.

Enter your business detail, including your address; it is important that this information match what is on filed in the IFTA database.

Next, you will enter your base jurisdiction, which is your home state or the state where your vehicle is registered.

After that, you will enter your vehicle information such as the number, make, model, and fuel type. You can enter multiple vehicles and drivers to tack the IFTA totals for your entire fleet.

Then you can enter your mileage information at your own pace. You can add your information per trip with trip sheet entries, enter your information for the entire month with the quick entry screen, or bulk upload all of your data.

To make importing even faster, you can upload all of your information directly from your GPS. We also accept ELD data.

Generate Your IFTA Report

Last, but not least, it’s time to generate your IFTA report! It will catch any basic errors that need to be corrected. Your IFTA report will also include any penalties, interest, credits/refunds based on your base jurisdiction's instructions.

Speaking of base jurisdictions, when you use your IFTA report to file your return, make sure you file according to your base jurisdiction's rules and regulations, Each state has their own filing requirement. For example, some require you to paper file while others require you to e-file. Learn about your state’s regulations here.

If you need any assistance, then please don’t hesitate to contact our live US-based ExpressIFTA support team.

File My IFTA Fuel Tax

Important IRS Notice: Today is The Form 2290 Due Date 2018

Whoa, the deadline is here! Your Heavy Vehicle Use Tax (HVUT) Form 2290 due date 2018 is today, August 31st. You are officially out of time to procrastinate! You need to file today to avoid getting run over by major penalties.

However, don’t hit that panic button quite yet! Your friends here at ExpressIFTA have the perfect solution for you. Instead of standing in line at the IRS or running to the post office you can file Form 2290 online with the most trusted name in the industry, ExpressTruckTax.

File Form 2290 and receive your stamped Schedule 1 in a matter of minutes. Head on over to ExpressTruckTax and sign up for your FREE account now so you can get back to focusing on the road.

Need a little more information? Well, check out these helpful 2290 filing tips to get in and out fast.

HVUT Form 2290 Filing Tips

1. Make Sure You Have Your EIN

You need an EIN or Employer Identification number to complete your form. It’s how the IRS identifies your trucking business. You cannot file Form 2290 with your SSN (Social Security Number)! If you need to apply for an EIN, you can do so over the phone with our sister product, TSNAmerica.

2. You Can Pay With a Credit or Debit Card

Starting this truck tax season, the IRS is now allowing you to pay 2290 with credit card or debit! Or another option is to pay with direct debit or electronic funds withdrawal, by authorizing the IRS to debit the amount you owe from your bank account. To do this, you will need to provide your bank account and routing number, which can be found on one of your checks.

Or you can pay with the Electronic Federal Tax Payment System, where you will create a free account at www.ettps.gov. The amount you owe will be debited from your bank account, but it could take up to 10 days to create your account.

If you want to, you can mail the amount you owe directly to the IRS with a check or money order. Just print your completed 2290-V (your payment voucher) from page 11 of your completed 2290 form and mail it with your payment.

3. File With ExpressTruckTax or TSNAmerica

Head to ExpressTruckTax and follow their step-by-step e-filing guide to file your HVUT Form 2290! Once you submit your completed Form 2290 to the IRS, you will receive your stamped Schedule 1 via email in minutes!

If you’re on the road, you don’t need to find a computer or IRS office to file. Simply download the ExpressTruckTax mobile app to your smartphone or tablet to file from the comfort of your own cab.

Start My Form 2290 Filing Today!

The Easiest Way to File Form 2290

Looking for an even easier way to file? Our sister product, TSNAmerica, is a full-service 2290 filing solution. The process is straightforward and will take less than 5 minutes. Simply give them your information over the phone, and they will file your IRS Form 2290 on your behalf. Once they have submitted your information to the IRS, you will receive a copy of your stamped Schedule 1 via email. Their outstanding bilingual team supports filing in both English and Spanish.

TSNAmerica: 803.386.0320

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