Mandatory Tax Forms For Your Trucking Employees

We have an important notice for you, trucking nation! January 31st is a huge tax deadline day. We know you’re pretty busy right now fighting winter storms, but you can’t miss these tax due dates or you will have major penalties to face.

On January 31 not only do you need to complete your 4th quarter IFTA return, but you also need to file Form W-2, issue copies to your employees, and send copies of Form 1099-MISC to your independent contractors. That sounds like a lot, but filing these tax forms is pretty easy with the help of our sister product, TaxBandits.

Mandatory Tax Forms For Your Trucking Employees 

Form W-2

You have to file Form W-2 annually with the Social Security Administration and issue copies to each of your employees by the January 31st deadline. Form W-2 is used to report the amount of income, social security, and Medicare tax withheld from all compensations and income offered to your employees.

You are only required to file Form W-2 for employees who you have paid $600 or more to in wages during the tax period. It’s important to issue your employees their W-2 Form copy by the deadline because they need it to file their personal income tax returns.

Form 1099-MISC

Form 1099-MISC is used to report miscellaneous income such as payments made to an independent contractor. An independent contractor is classified as someone who performs services for a business who isn’t treated as it’s employee. 

You must file Form 1099-MISC for your independent contractors or subcontractors if you paid them $600 more during the tax year. Also, you must provide them with a copy of Form 1099-MISC by the January 31st deadline so they can use it to file their personal income tax returns.

File With TaxBandits 

Our sister product, TaxBandits, is your employment tax e-filing solution. Simply create your free account and follow their step-by-step instructions to complete your forms in a matter of minutes. Then transmit them directly to the IRS.

No other tax filing method is this fast and stress-free! TaxBandit’s filing instructions explain exactly what information is required to complete your form and where it needs to be entered. Plus, TaxBandits offers exclusive, innovative e-filing features.

For example, you can use the bulk upload feature to upload all of your employee data at once. Also, you can use the postal mailing feature to have TaxBandits print and mail hard copies of your returns to each of your recipients.

If you have any questions visit or contact the 100% US-based TaxBandits support team.

Don’t Forget About IFTA

As the 4th quarter, IFTA deadline approaches don’t forget to prepare your IFTA return with our help. We make it easy to import all of your IFTA information and even accept ELD data! Not to mention, we complete all of the complicated IFTA calculations for you with 100% accuracy!

All of your IFTA fuel tax information will be kept online in one convenient location so you can keep detailed records for your business. Plus, this information can be instantly accessed in your account in the event of an IFTA audit!

If you need any assistance please don’t hesitate to contact the dedicated ExpressIFTA support team!

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