Today is Deadline to File 1st Quarter IFTA, Use Tax & Form 2290 Returns

The deadline to file 1st Quarter  IFTA, KYU, NY HUT, Oregon Weight-Mile or New Mexico Weight Distance is today!! You must file a return even if you did not run during the quarter.  You would just file a “zero” report.

Failure to file a return, filing a late return, or failure to remit any or all tax due will result in a penalty of $50.00 or 10% of the net tax due to all member jurisdictions, whichever is greater.  Interest is computed on all delinquent taxes dues each jurisdiction at a rate of 1% per month.  Even if you have a net refund, interest still applies to each jurisdiction for any underpayment of fuels use tax to that jurisdiction and is calculated beginning the day after the due date of the return for each month, or fraction of a month, until paid. So the longer you are late, the more you will owe.

It is also the last day to file your Form 2290, if you first placed your vehicle on the road anytime during the month of February.

A Vehicle is considered to be a taxable vehicle if it was operating on public roads between the tax periods of July through June. A vehicle is also considered to be taxable if it has a taxable gross weight of at least 55,000 pounds and travels at least 5,000 miles during the tax period (7,500 miles if used for agriculture).

The deadline for 1st quarter IFTA and Use Tax & Form 2290 returns is today, April 30th, so if you have not yet filed your return(s), you will want to file it now to avoid penalties and interest.  At Truck Services of North America, we make it simple by preparing and filing your quarterly returns for you. TSNA takes the paperwork out of your way.  Contact us at TSNAmerica.com or call 803.386.0320.

Read More »

Tomorrow is the Deadline For 1st Quarter Returns & Form 2290

Tomorrow, Tuesday, April 30, 2013 is the deadline for 1st Quarter IFTA, KYU, NY HUT, Oregon Weight-Mile or New Mexico Weight Distance returns as well as Form 2290 for Heavy Vehicle Use Taxes on vehicles first placed on public highways during the month of March.  

On the road and unable to file on your own?  No problem, just give us a call and we’ll take care of it for you.  We take all your information over the phone and submit it to the IRS on your behalf!  All we need is your information and a signed Form 8453, giving us the authorization to file for you.  We can fax you the form, you sign it a fax it back and we take care of the rest. We can even send your employer proof that you filed your Form 2290 for you.  So don’t risk IRS penalties by missing tomorrow’s deadline.

As a premier processing agency, Truck Services of North America can assist with your IFTA,  NY HUT, KYU, New Mexico and Oregon Weight Distance Taxes  and Form 2290. TSNA takes the paperwork out of you.  Check out all our services at TSNAmerica.com and fill out the Service Request Form, email us at support@TSNAmerica.com or call 803.386.0320.

Read More »

Illinois IFTA Penalty And Interest Waiver Granted

On April 23, 2013 the Illinois Department of Revenue issued a statement regarding the Spring Flood of 2013 and IFTA.  It granted a waiver for the International Fuel Tax Agreement penalty and interest to Illinois-based individuals and businesses who were directly impacted by the flood.  The waiver applies to late returns or payments made between April 19th July 31st.

See the full release for more details.

Truck Services of North America works to help you stay informed of situations that may affect you. For more information about any of our other services, contact us at TSNAmerica.com, email support@TSNAmerica.com or call 803.386.0320.

Read More »

1st Quarter NY HUT, KYU, New Mexico & Oregon Weight Distance Deadline

Reminder that all 1st Quarter NY HUT, KYU, New Mexico and Oregon Weight Distance Tax Returns are due next Tuesday, April 30, 2013.

New York Highway Use Tax (NYHUT) 

• Carriers operating certain commercial motor vehicles that weigh 18,000 lbs or greater in New York are required to register and obtain NYHUT tax credentials. Once a NYHUT account has been established, carriers must file and pay mileage tax on a quarterly basis.  

Kentucky Use Tax (KYU Number) 

• All commercial motor vehicles (except buses) with a gross weight of 60,000 lbs and over traveling into or through Kentucky must be registered with the state. Carriers with an active KYU Number are then required to file a quarterly return and pay mileage taxes to Kentucky. New qualifying vehicles must be listed with Kentucky prior to the vehicle entering the state. Temporary permits are also available.

New Mexico Weight Distance Tax 

• All commercial motor vehicles with a gross weight in excess of 26,000 lbs. must be registered with the state before traveling into or through New Mexico. Entrance can be paid at the port if not registered; however, it is not cost effective to pay at the port unless you travel through New Mexico only once or twice per year. Once a Weight Distance Tax account in New Mexico is established quarterly reports must be filed and mileage tax paid.

Oregon Weight-Mile Tax 

• All commercial carriers with a gross vehicle weight in excess of 26,001 lbs. must obtain a temporary or annual permit to travel into or through Oregon. Oregon does not belong to the International Fuel Tax Agreement; however, a proper tax permit must be obtained before entering this state. Heavy fines are imposed on carriers entering into Oregon without the proper credentials. 
• Oregon requires all new entrants to become bonded before permanent credentials are issued. Bonds may be placed by a Surety Company or posted with cash. The size of your fleet will determine the amount of the bond required.

As a premier processing agency, Truck Services of North America can assist with your NY HUT, KYU, New Mexico and Oregon Weight Distance Taxes.  TSNA takes the paperwork out of your way. Check out all our services at TSNAmerica.com and fill out the Service Request Form, email us at support@TSNAmerica.com or call 803.386.0320.

Read More »

Quarterly IFTA Returns Must Be Filed Even If You Did Not Operate

A Quarterly IFTA Tax Return must be filed even if the licensee does not operate or purchase any taxable fuel in an IFTA member jurisdiction during the specific quarter.  If you hold an IFTA license a return must be filed each and every quarter, regardless if you operated or not.  

Failure to to file your return could result in applicable penalties and interest.  When a licensee fails to file a return, files a late return, or fails to remit any or all tax due, the licensee is subject to penalty and interest. The penalty is the greater of $50.00 or 10% of the net tax due to all member jurisdictions. Interest is computed on all delinquent taxes due each jurisdiction at a rate of 1% per month. The Department will assess interest for a full month.

If a licensee does not operate or purchase taxable fuel, simply enter “0” when filing the return.  Many states offer electronic IFTA filing, to find out if your state offers IFTA E-Filing, click here.

As a premier processing agency, Truck Services of North America can set up your IFTA accounts and file your Quarterly IFTA Taxes for you.  TSNA takes the paperwork out of your way. Check out all our services at TSNAmerica.com and fill out the Service Request Form, email us at support@TSNAmerica.com or call 803.386.0320.

Read More »

Understanding Form 2290-First Use Month

When filing Form 2290 for Heavy Vehicle Use Tax, you will be asked to provide the first use date for the vehicle. This dates refers to the time when the vehicle was placed in service during the tax period.  If the vehicle has been placed in service for  previous years and will continue to be in service this year, the first use month will be July.  This is because the tax period for Heavy Vehicle Use Taxes begins in July 1st  and ends June 30th of the following year.

If a new vehicle is placed in service during the tax period, the first use month will be the month in which the vehicle was first used. The deadline to file Form 2290 is the last day of month following the first use month. If a vehicle was only used for part of the tax period, the tax will be prorated.  For example, vehicles that were placed in service during the month of February will need to file HVUT using the Form 2290 by March 31, and the tax will be based on 5 months, instead of the full year.

As a premier processing agency, Truck Services of North America can file your Form 2290 Heavy Highway Use Tax for you.  TSNA takes the paperwork out of your way. Check out all our services at TSNAmerica.com and fill out the Service Request Form, email us at support@TSNAmerica.com or call 803.386.0320.

Read More »

Reefer Fuel And IFTA?

Reefer fuel is NOT included when filing IFTA when that fuel used to power the refrigeration unit of the trailer. The reefer fuel must always be purchased on a separate fuel receipt.

Never pump reefer fuel on the same fuel receipt when fueling your power unit. This will lower your mpg and cost you more IFTA fuel tax. Also, when the auditor discovers you combined reefer fuel into your power unit fuel, you will be assessed penalties and interest on your IFTA audit.

You are entitled to a federal tax paid refund on each gallon of reefer fuel. You will need the total number of gallons of reefer fuel purchased during the tax year to complete the refund form. The IRS will send you a check for the federal tax paid on each gallon of fuel. If you failed to file for this refund, you can file back for the past 3 years to claim your refund.

You will want to check with your base jurisdiction to see how they handle reefer fuel.  In Maryland, for example, if you only have one tank that propels your vehicle and runs the refrigeration unit, then all fuel is included in IFTA.  If you have 2 separate tanks, you need to fuel separately and make sure reefer is marked on the receipt.  Do not include the reefer fuel on IFTA and you will able to get a refund by filing a claim.

Have questions, contact Truck Services of North America and we will help you find the answers you need.  TSNA takes the paperwork out of your way! For more details contact us at TSNAmerica.com or call 803.386.0320.

Read More »

Correcting Information on Form 2290

There are occasions when the information needs to be corrected on Form 2290 after it has been submitted and accepted by the IRS.  The process to correct the information depends on what information needs to be corrected.

Many corrections will require a phone call to the IRS at 866-699-4096.  For typos, misspellings and name corrections, you will want to correct the information on your Schedule 1 and fax it into the IRS and the IRS will make the corrections.  They may require additional information to confirm the correction, but will let you know when you call the number listed above.

If you have the wrong EIN on your Schedule 1, you will want to correct the EIN and fax it along with a letter explaining that the EIN was wrong.  If the return was accepting with an EIN that was not yours, it means the EIN belongs to someone else and the IRS will have to figure out whose payment you made.  If you are told that you need to file a new 2290 and pay the taxes again and then file for a refund using Form 8849, call back until you talk to someone who will assist you without making you pay the tax again and have to wait for a refund.

If your business name changes for any reason, but the EIN remains the same, you will change the business name and fill out the Name Change form and MAIL to the IRS.  A fax will not be accepted as an original signature is required.

The easiest and most common correction is the VIN correction.  VIN corrections can be done by filing a Form 2290 Amendment.

As a premier processing agency, Truck Services of North America can assist with your with making corrections for your Form 2290 if necessary.  TSNA takes the paperwork out of your way. For more details contact us at TSNAmerica.com or call 803.386.0320.

Read More »

Fuel and Use Tax 1st Quarter Returns Due April 30th

The International Fuel Tax Agreement requires all qualified motor vehicles to file an IFTA return each quarter if the qualifying heavy vehicles were operating in at least 2 of the IFTA member jurisdictions.  

Note: The IFTA jurisdictions include the 48 contiguous states of the US and 10 Canadian provinces.  

Vehicles operating within these jurisdictions must have an IFTA license and file a quarterly IFTA return with their base jurisdiction.  A vehicle’s base jurisdiction is the state or province in which the vehicle is registered.

Information you will need to file:

• IFTA license number 
• Trip Sheets
• Fuel Receipts  

If you travel in Kentucky, New Mexico, New York and Oregon, you are required to have a Use permit in each of these states, which require a quarterly return be filed.

As a premier processing agency, Truck Services of North America can assist with your IFTA,  NY HUT, KYU, New Mexico and Oregon Weight Distance Taxes.  TSNA takes the paperwork out of you.  If you would like us to take care your IFTA, we will need copies of your mileage logs and fuel receipts into our office by April 20th, to ensure the paperwork is processed by the April 30, 2013 deadline. Check out all our services at TSNAmerica.com and fill out the Service Request Form, email us at support@TSNAmerica.com or call 803.386.0320.

Read More »

EIN, What Is It and Why Do You Need One?

An Employer Identification Number or EIN, is also known as a Federal Tax Identification Number, and is used to identify a business entity.  According to IRS website, you are required to have an EIN if any of the following are true:

• You have employees 
• You operate your business as a corporation or partnership 
• You file any of these returns: Employment, Excise, Alcohol, Tobacco and Firearms 
• You have a Keogh plan
• You withhold taxes on income, other than wages, paid to a non-resident alien
• You are involved with any of the following types of organizations: 
• Trusts, excepts certain grantor-owned revocable trusts, IRAs, Exempt Organization Business Income Tax Returns
• Estates
• Real estate mortgage investment conduits
• Non-profit organizations
• Farmers’ cooperative
• Plan administrators     

For vehicles 55,000 lbs or more, first put on public highways in March, then you are required to file a Form 2290 Return, by April 30, 2013.  IRS Form 2290, used to file Heavy Vehicle Use Tax (HVUT), is considered an excise tax, so you would be required to have an EIN.  Be advised that it can take the IRS up to 10 business days to get new EINs into their system, so you will want to get your EIN today, in order to file Form 2290 on time.

As a premier processing agency, Truck Services of North America can get your EIN and file your Form 2290 Taxes for you.  TSNA takes the paperwork out of your way. Check out all our services at TSNAmerica.com and fill out the Service Request Form, email us at support@TSNAmerica.com or call 803.386.0320.

Read More »