Author: Marcela De Vivo

Extend your 1040 Deadline by filing Form 4868

Posted on May 11, 2021 by - E-File Form 4868, Form 4868, IRS extension

We get it and so does the IRS. Things happen and you just aren’t able to meet those deadlines.

It can be pretty tough to get everything together that you need when filing your tax return. Lucky for you, there is a way to ask the IRS for up to 6 months more time.

The personal income tax deadline is typically April 15, but with an extension, you may not have to submit your forms until October 15th.

Due to COVID-19 Pandemic, the IRS has extended the 2020 Form 1040 deadline to May 17, 2021.

If you don’t think you can complete your 2020 federal 1040 tax return by the May 17 deadline, you’ll want to think about filing a Form 4868 now! The Form 4868 is used to ask the IRS for extra time to file personal income taxes.

Please note,  Form 4868 only pushes back the filing deadline for 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.

Penalty Threats

Filing late can get pretty costly. The penalty can be up to 5% of the unpaid tax amount for each month you are late. If the return is more than 60 days late, the minimum penalty is $135 or 100% of the unpaid tax, whichever is less.

Filing Form 4868 will give you ample amount of time to get your ducks in a row. If you know you may late, go ahead and file for an extension and get until October 15th to file your tax return.

Form 4868 is an automatic Form, which means the IRS doesn’t require any explanation.

Form 4868 is made up of two parts. Identification information is included in part I and individual income tax information is in part II.

Part I & II

Part I – Identification

  • Name(s) 
  • Mailing addresses
  • Social Security number (SSN)
  • Employer Identification Number (EIN) 

Part II – Individual Income Tax

  • Estimate of Total Tax Liability (be sure to be as accurate as possible)
  • Total Payments
  • Balance Due
  • Amount You’ll Be Paying

If you’re thinking of filing a personal tax extension, here are steps to make completing it a little bit simpler. 

Filing Form 4868 Electronically

E-filing is the quickest and easiest way to submit your tax extension to the IRS. By filing Form 4868 electronically, the IRS will process your return quickly and provide you with the return status instantly.

Get started with the leading IRS-Authorized e-file provider, ExpressExtension, and complete your extension in minutes.

  1. Enter Personal Details
  2. Enter balance tax due details
  3. Review your Form 4868
  4. Transmit your return to the IRS

Check with the demo video on how to complete Form 4868 with ExpressExtension:

E-file Tax Extension Form 4868 now and extend your 1040 filing deadline to avoid late filing penalties.

Announcing A New Two Truck Filing Package! Only $19.90!

Posted on May 10, 2021 by - E-filing Form 2290

We have an exciting announcement to make!

In our continued effort to serve American truckers with the best solutions at the best prices, we are proud to announce a new two truck filing package for ExpressTruckTax users!

Two Trucks For Only $19.90

This new package makes filing a Form 2290 for two trucks even more affordable. Now small father-and-son-type operations can file for two trucks for just $19.90.

We’re excited to be able to save small trucking companies even more! And of course, like all our filing packages, this package includes all the great features and services you have come to expect from us. 

For just $19.90, users will receive an instant error check, our ExpressGuarantee, live Customer Support, and much more.

File Your Form 2290 for Two Trucks Today!

So what are you waiting for? Go file your Form 2290 for two trucks right now!

What New Truckers Need To Know About IFTA Reporting

Posted on April 27, 2021 by - ifta fuel tax

If you are new to the trucking industry let us say congratulations!

There’s a lot to learn about how to manage all of the required trucking taxes and registration. Just for starters, you will need everything from Heavy Vehicle Use Tax, your IRP, and of course your IFTA quarterly fuel tax report. To help you get started here is what new truckers need to know about IFTA reporting.

What New Truckers Need To Know About IFTA Reporting

IFTA, or the International Fuel Tax Agreement, is an arrangement between 48 of the United States and 10 Canadian provinces to report fuel use by motor carriers that operate in more than one jurisdiction (state). The IFTA fuel tax redistributes fuel taxes equally among the jurisdictions.

To show you filed your IFTA return and pay the taxes owed by the deadline you will be issued an IFTA license and IFTA stickers. The license should be kept in your truck at all times and the IFTA stickers are displayed under your driver’s side window.

Vehicle Qualifications For IFTA Reporting

Your vehicle qualifies for IFTA reporting if it travels between more than one jurisdiction and:

  • Has two axles and a gross vehicle weight exceeding 26,000 pounds
  • Has two axles and a registered weight exceeding 26,000 pounds
  • Has a combination weight exceeding 26,000 pounds
  • Has three or more axles regardless of weight

IFTA Quarterly Fuel Tax Report Requirements

You are required to complete an IFTA report four times a year and file with your base jurisdiction (home state). Your base jurisdiction is where your qualifying vehicles are required to be registered and where your information is available in the event of an IFTA audit.

To complete your IFTA fuel tax return you will need to report:

    • The total miles traveled per jurisdiction including taxable and nontaxable, IFTA and non-IFTA, and trip permit miles
    • The total gallons of fuel consumed in each jurisdiction including taxable and nontaxable, IFTA, and trip permit miles
    • The number of gallons of fuel purchased per jurisdiction
    • The tax paid on each gallon of fuel purchased per jurisdiction
    • And the current tax rate per jurisdiction

File With The Best IFTA Software Available

Our sister product, ExpressIFTA makes IFTA reporting simple. Their IFTA software for reporting includes innovative features that let you upload your IFTA fuel tax information at your own pace. Upload your trip information as you go or all at once with each quick entry screen. You can even upload your miles from your fuel card.
 
Don’t worry about handling any complicated calculation yourself, because ExpressIFTA will automatically calculate IFTA fuel tax rates for you. And all of your information will be kept in an easy-to-read report that can be easily printed and used to complete your return.
 
Generate your IFTA report today!

Need More Time to File Your Trucking Business Tax Returns?

Posted on April 14, 2021 by - Trucking Business

If you are a trucking business owner who needs to file Forms 1120 and/or 1041, your tax filing deadline is April 15 at midnight! However, if you need more time to file your trucking business taxes there is a solution!

With our sister-product ExpressExtension, you can request an automatic deadline extension of up to 6 months! Here’s how it works.

Form 1120 & 1041 – An Overview

Let’s start with which businesses qualify for a business tax filing deadline extension. Anyone who needs to file Form 1120 or 1041 by April 15 may request an extension with Form 7004. 

Form 1120 was designed for Corporations to report their income, gains, losses, deductions, credits and to figure their income tax liability.

Form 1041, on the other hand, is intended for estates and trusts to report their income etc. Trucking businesses typically are not estates or trusts.

What information is needed to file Form 7004?

Filing Form 7004 is fairly simple as far as tax forms are concerned. You will simply need your business name, business address, and tax-ID/EIN. Plus, ExpressExtension provides simple and concise interview-style prompts to help ensure your return is filled out correctly.

How to claim a tax filing deadline extension with Form 7004?

IRS Form 7004 allows business owners to request additional time to file their business tax forms. You don’t even have to give a reason for needing the extension! With ExpressExtension all you have to do is follow the simple instructions that they provide!

The whole process can be completed in a matter of minutes so that you can get back to driving and worry about your taxes later! Plus, the form can be completed from any device, from anywhere you find yourself. Once the IRS has processed your form, you will be notified via email of your status. 

Once the IRS has approved your return, you will have 6 more months to file your taxes! You will still need to pay your estimated tax amount by April 15, however.

File Your Tax Filing Extension Today!

Create your ExpressExtension account today and get 6 months additional months to file your trucking business taxes! 

5 Spring Cleaning Semi Truck Organization Ideas

Posted on April 12, 2021 by - otr trucking

It’s officially spring and that means it’s time to start cleaning up your home! And since your truck is probably your home most of the time, you need to be creative about how you manage that small space.

Here’s some great ways to start organizing your truck and some other long term goals for you to work towards to make your life over the road more comfortable. The possibilities for your truck are endless. 

Semi Truck Organization

1. Don’t Try To Take Everything

Truckers are the original owners of tiny homes! And if we know anything about tiny home living it’s that minimalism is the name of the game. So your spring cleaning efforts should start with eliminating everything you don’t need. But figuring out what you can eliminate is half the battle.

One place you can start is with kitchenware. Obviously if you don’t cook in your truck at all, you can get rid of pretty much everything related to kitchenware. If you do cook, you can probably cut down your cooking items down to two or three essentials items.

For instance, with a pressure cooker and a microwave you can cook pretty much everything you need. Then, just keep around disposable utensils and cups and plates.

2. Add Shelves to Your Cabinets

If you have cabinets in your truck, consider subdividing that space with shelves to make everything accessible. This will help make your life feel more organized.

3. Add Outside Semi Truck Storage For Nonessentials

For those items that you don’t need immediate access to, consider adding more outside truck storage boxes. This way you can organize tools, cleaning supplies, and other miscellaneous items outside your cab but still have them available to you whenever you need.

Source: https://800toolbox.com/step_toolboxes/step_toolboxes.htm

4. Spruce Up Your Decorations

Part of spring cleaning is making your home feel fresh and new. One easy way you can do that is with some new decorations. That could be as simple as a new sheet and comforter set, or as complex as replacing cabinetry or upholstery.

Source: https://www.pinterest.com/pin/7459155618046718/

5. The Ultimate Rig

And finally as a source of inspiration for your new truck mods, check out this incredible custom sleeper. Mr. and Mrs. Snow of Snow Trucking have spent the last two decades kitting out their rig with everything they could possibly need. Their setup is certainly food for thought!

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What You Need To Know About CVSA Roadcheck 2021

Posted on April 5, 2021 by - CVSA inspection blitz

Every year, the CVSA dedicates 36 hours to an inspection blitz of commercial motor vehicles. In 2020, that CVSA roadcheck was delayed until September and was performed at a lower capacity than is typical. In 2021 however, the CVSA is back with its typical May 4-6 road inspection blitz.

Each year, in addition to performing comprehensive Type I (37 point inspections) the CVSA chooses additional areas of particular focus. Here’s what you need to know about the CVSA roadcheck 2021 taking place May 4-6, 2021.

Road Inspection 2021

This year the CVSA says they will primarily focus on curbing lighting and hours of service (HOS) violations during the roadcheck week. With the recent advent of ELDs and a year of decreased enforcement due to the pandemic, this move makes sense. But what about the focus on lighting violations? Well, according to Freightwaves, vehicles with “lamps inoperable” violations made up 12% of offenders.

How to Prepare for Roadcheck 2021

Even though lighting and HOS are the primary focus of the 2021 CVSA roadcheck, it is vital to prepare for comprehensive inspections. 

This roadcheck preparation process should start with a registration checkup. Make sure you have all your forms and registration up to date and the paperwork in your cab with you. This could include but is not limited to: IRP, IFTA, Form 2290, DOT#, MC#, BOC-3, UCR#, and more. Additionally, you should probably have any supporting documents. 

Next, you should start checking your ELDs and/or logs. Make sure you know how to quickly present this information and that your unit has been accurately tracking data.

Finally, you should start making sure every part of your vehicle meets compliance regulations. Here’s a list of everything the CVSA inspector will be checking. Another great tip from Freightwaves is to make sure you have spare light bulbs and fuses in case your lights have issues. 

File Form 2290 before Roadcheck 2021

If you need a current Form 2290 for your records before the upcoming CVSA roadcheck inspection blitz, click the link below!

ExpressTruckTax.com provides the quickest and easiest solution for Form 2290 filings!

What’s the Deal with Form 2290 Deadlines and Month of First Use?

Posted on March 31, 2021 by - 2290 deadline

Your IRS Form 2290 deadline can be a bit difficult to figure out. There’s a lot of legalese surrounding when your deadline might fall.

This is a problem because late filings and late HVUT payments almost always result in penalties and interest from the IRS. 

Let’s cut through the confusion and phrasing so you can figure out exactly when you need to file your Form 2290.

The Form 2290 Tax Period

Let’s start with the first factor to consider when trying to figure out your Form 2290 deadline – the HVUT tax season. Unlike the primary IRS individual and business income tax year that we are all familiar with, the Heavy Vehicle Use Tax season runs from July 1 – June 30 each year. Why? We don’t know. Who knows why the IRS is the way it is?

What we do know is that if you are using the same truck as the last HVUT tax year, your Form 2290 deadline will be one month after the end of the current tax year – August 31. Since the tax season ends on July 1, the IRS generously gives you almost two months to file your new Form 2290 before the due date. 

But what if you start using a different truck during the tax year?

Form 2290 First Use Month

If you start using a different truck during the tax year, you cannot wait until the typical August 31 deadline to file. You will need to file Form 2290 by the end of the month following the month of first use. So, for instance, if you started using a vehicle in February 2021, you will need to file your Form 2290 by March 31, 2021 (today). 

Then for the next tax year, if you are still using that truck, your Form 2290 deadline will be August 31 along with everyone else. 

What do you need to file Form 2290?

In order to file your Form 2290 by your deadline, you will need the following information:

  • 1. Business Details: Name, EIN, and Address
  • 2.Vehicle Details: VIN. and gross weight of the vehicle.
  • 3. Type of Return: If you are filing a 2290 VIN Correction or amended return, be sure to choose the type of amendment.
  • 4. Suspended Vehicle Details: If your vehicle is tax suspended choose the mileage category and enter the VIN.
  • 5. Paid Preparer Details: If you are Tax Professional filing for your clients, Enter your Firm name, address, EIN, name, and PTIN.

File your Form 2290 today!

If you started using a truck in February or earlier, you need to file your Form 2290 by midnight tonight!

We provide easy-to-follow prompts and we guarantee you’ll get your stamped Schedule 1 back from the IRS! The whole process only takes a few minutes.

Your Trucking Guide To IRP Reporting

Posted on March 24, 2021 by - Trucker Taxes

When it comes to truck taxes there are multiple forms to file and tons of deadlines. We know that you’re familiar with your Heavy Vehicle Use Tax Form 2290, and you regularly file your quarterly IFTA return, but what about your IRP return?

Your IRP return is actually pretty closely related to your HVUT return, and IFTA report, because you need your Schedule 1 to complete your IRP return, and you also need to track your mileage per jurisdiction. This may seem overwhelming, but we’re here to help clear everything up.

The Trucking Guide To IRP Reporting

First of all, IRP is the International Registration Plan and it’s a reciprocal agreement that authorizes proportional registration among the 48 contiguous United States and 10 Canadian provinces.

This agreement provides apportioned payments based off of the total distance operated in each jurisdiction (state). That means the operator of the vehicle must report the number of miles traveled per jurisdiction on an annual basis and pay the amount of taxes they owe to their base jurisdiction (home state).

IRP Requirements

You are responsible for completing your IRP return if you operate a heavy vehicle that operates in more than one jurisdiction and it:

  • Weighs more than 26,000 pounds
  • Has three or more axles, regardless of weight, or
  • Is a power unit and trailer with a gross vehicle weight higher than 26,000 pounds.

To first receive your IRP license you must register with your base jurisdiction. Then you will receive your IRP license, which should be carried in your cab at all times. You will also have a specially marked license plate.

Then each year you will need to file your IRP return to renew your tags and to continue legally operating in multiple jurisdictions. Your IRP return deadline is based on the expiration date on your license plate.

In order to complete your return, you need to list the mileage traveled per jurisdiction during the year. Your mileage can be recorded with the same online program you use for your IFTA report, like ExpressIFTA.

Generating a Mileage Report

ExpressIFTA makes it incredibly easy to import all of your information and track it in one convenient location online. You can use the bulk upload feature to import all of your information at once or import all of your data from your ELD device.

You also need a copy of your stamped Schedule 1 to complete your IRP return. You stamped Schedule 1 serves as proof of completing your HVUT Form 2290.

E-Filing Form 2290

You can actually easily file your Form 2290 with ExpressTruckTax to instantly receive a copy of your stamped Schedule 1 via email.

All you have to do to get started is create your free account. Then you can follow our step-by-step instructions to quickly complete your form and transmit directly to the IRS. Then in about 15 minutes you’ll get a copy of your stamped Schedule 1. This is the fastest and easiest way to complete your truck taxes.

Plus, if you need any assistance the live, US-based ExpressTruckTax team is standing by to help. Give us a call Monday – Friday from 9 AM to 6 PM EST at 704.234.6005. We also offer live chat and 24/7 email support at support@ExpressTruckTax.com.

The Most Common IRS Form 2290 Mistakes to Avoid

Posted on March 16, 2021 by - Form 2290

 

There’s nothing worse than having to file your annual truck taxes twice. 

Avoid IRS Form 2290 mistakes this year when you e-file 2290 with ExpressTruckTax.

We’ve got a few tips to make the process as painless as possible and save you from any unnecessary corrections.

Filing IRS Form 2290 before the deadline will save you tons of money, but mistakes could keep you from meeting the Form 2290 due date and cost you a sweet penny.

Avoid frustration and confusion by double-checking some information that commonly delays IRS Form 2290 approval.

The Most Common IRS Form 2290 Mistakes to Avoid

5 Common IRS Form 2290 Mistakes

 Here are some things to be extra cautious about when filing your 2290 Form.

How to Check These Areas For Error

  • 1) EIN (Employer Identification Number) or VIN (Vehicle Identification Number)

A unique EIN is assigned to each company operating in the US as a form of identification for tax purposes. Your EIN should be a string of 9 numbers, presented in this format: 12-3456789.

Since this number looks similar to a social security number, filers often confuse the two, causing the IRS to reject the 2290 Tax Form.

Keep in mind that it takes 10 business days for the IRS to update its database with a new EIN. If you’re applying for a new EIN, do so at least a month before you e-file IRS 2290 to avoid delays.

Your VIN should be 17 characters long and include both numbers and letters. Check your VIN before submitting your 2290 Tax Form. If incorrect, your IRS Form 2290 will be rejected.

The best online tax filing is quick. Don’t waste unnecessary time with mistakes. When you e-file 2290, double-check your Form 2290 and ensure that your EIN and VIN are correct.

  • 2) First Used Month or Filing Year

When filing IRS Form 2290, make sure you use the correct filing year.

Note: If you’ve used an online filing service before, the drop-down menu could be set to a previous 2290 Tax Form file year. Double-check!

Secondly, choose an accurate first used month.

The first used month is the month you first used the truck on the highway during the tax period, which runs from July 1 to June 30 of the next year. Your Truck Tax form is due on the last day of the month after your first used month.

This means if you first used your vehicle in July, as most drivers do during the tax season, then you will need to file your IRS 2290 Tax Form by August 31.

  • 3) Gross Taxable Weight

IRS Form 2290 tax calculations can be tricky, but don’t sweat it. At ExpressTruckTax, our system automatically calculates your owed tax amount. Leave all 2290 tax form math to us.

It’s important to find the best online tax filing service to save yourself time and money. ExpressTruckTax can help!

  • 4) Authorized Signatory Details

It’s super easy to sign your IRS 2290 online. All you need is a 5-digit authorized signature code. Still, no matter how simple it sounds, please just… double-check. 

  • 5) Business Name & Address

You’d be surprised at how many returns are rejected for this information being incorrect!

The wrong business name and address is the most common error on the heavy vehicle use tax form 2290. Don’t let it happen to you!

Double-check your business name and address before submitting your IRS Form 2290.

Why is it so Important to Avoid IRS 2290 Mistakes?

Even the simplest mistake on your IRS Form 2290 can cause serious problems. For starters, your 2290 Tax Form will definitely be rejected by the IRS.

This is a huge time waster and may cause you to miss the HVUT 2290 Tax Form Deadline.

If this happens and you miss the deadline, you’ll need to correct your Form 2290 and file again, attaching an explanation to show reasonable cause for the delay of your heavy vehicle use tax.

There’s no guaranteeing that your statement will be accepted by the IRS, and if it’s not, you’ll face heavy IRS 2290 Tax Form penalties.

The penalty for failing to file IRS Form 2290 by August 31st is 4.5% of the total tax amount owed. Plus, you still have to pay the base HVUT 2290 amount you owe.

In addition, this penalty will increase monthly for up to 5 months, with an additional .54% interest added for each month that it remains unpaid.

Save yourself while you can and double-check your Form 2290 before you e-file 2290 online.

The Best Online Tax Filing Service to Use

ExpressTruckTax makes filing easy. When it comes down to it, we simply don’t believe that filing IRS Form 2290 should be so difficult.

We include an instant error check to help catch any mistakes hidden in your 2290 Tax Form. We also have a US-based customer support team ready to help you every step of the way.

With features like bulk upload, free VIN corrections, and a mobile app, we’re committed to hosting your best filing experience yet.

Sign up for a free account today and you’ll agree that ExpressTruckTax is the best online tax filing option for Form 2290.

The Best Trucking Memes Of 2021

Posted on March 11, 2021 by - trucking industry

Need a break from the news? Us too. Take a load off with these great new trucking memes from around the internet.

Get low
byu/jbond18251 inTruckers
Maybe only reefer drivers do this.
byu/dogmeatjones25 inTruckers
Super trucker
byu/crosiss76 inTruckers

Want More Trucking Memes?

Check out this list from our sister-product TruckLogics and follow us on Facebook for more trucking industry news and memes!