Tag: expresstrucktax

Should You Consider Tag Teaming in 2021?

Posted on December 28, 2020 by - Team Driving

Before diving into team truck driving you should first have an understanding of what you’re signing up for. We’ve made that decision a little easier for you by giving you the scoop on what teaming up on the road looks like.
Having a partner means longer hours and fewer stops, aside from the time regulations issued by the FMCSA. There is a quicker turnaround time with team drivers, making them high in demand. The demand for team driver is so high, there are some companies who will fully pay for CDL training (Link to How to find the perfect fit to all your CDL Training Needs) if a driver agrees to be a part of a team.

Significantly Higher Pay

There are a lot of incentives that come with team driving associated with pay. Majority of the time team drivers make more per mile. There are a few companies who offer a 5,000 mile-per-week guarantee. No matter if you actually drive that many hours per week you’ll always get paid for driving 5,000 miles. If you happen to exceed those 5,000 miles your pay-per-mile may increase. Keep in mind that the 5,0000 miles will be split between you and your partner.

Example: If a company is offering a 6 figure salary for team truck drivers it means that the bottom line pay per mile is at least .39 per mile, for each driver. This could mean $1,200 more a month per driver compared to drivers who make .28 per mile. (*based on 5,000 miles driven per week)

Stress Less

Cut down on the amount of time it takes to do your pre-trip inspection with a companion to divide the timely duty with. With team driving, comes safety. There is always a slight fear that something may get stolen or worse that you may become a victim of some sort. This may be a stretch, but hey, things happen. With a partner on the road, you also have some extra security and backup, just-in-case.

Quality Time

Choosing the right driving partner is the main piece of having a positive team driving career. Choosing a companion you can trust takes time, but you could go a quicker route and choose someone you already have a bond with. Whether it’s your best friend, your child, or your spouse this could be how you choose to spend your quality time. There are plenty of truckers who miss their
family and friends when traveling for long periods of time, but it doesn’t have to be the case. Choosing a teammate who you already trust makes going to sleep in the sleeper berth while cruising down a steep hill, a little easier.

It is okay to not find team driving attractive, some people enjoy the peace and quiet trucking can bring. If you are interested in trying team driving be sure to go through the partner selection process thoroughly. This will make the biggest difference in whether or not you are a team driving advocate.

Merry Christmas from the ExpressTruckTax Family!

Posted on December 21, 2020 by - Merry Christmas

Merry Christmas from the ExpressTruckTax family! No matter where you’re truckin’ this holiday season, we hope you and your family have a safe and very Merry Christmas!

We we want to thank you for being the real Santa’s of the world, delivering our gifts and our feasts! Wherever you go, we hope you have safe travels, lovely weather, and a wonderful holiday!

To give our customer support team time with family, our offices will be closed Thursday 12/24 & Friday 12/25, but we will still be providing emergency email support Thursday through Sunday. Just shoot us a message at support@expresstrucktax.com, and someone will get back to you before you can remember the names of Santa’s Eight Reindeer.

And don’t forget that the IRS MeF (Modernized E-File System) will be closing for maintenance from this Friday, December 26th at 1:30 pm EST until mid-January. During the shutdown, you will still be able to E-file your Form 2290 with ExpressTruckTax, but your returns will be held in our system until the IRS site reopens.

To learn more about how the shutdown could affect you, check out our last blog about it.

Need help with HVUT or UCR? 

If the holiday chaos is making it impossible to get all of your work done, call our friends over at ExpressTruckTax Plus. As a premier processing agency, they can file your HVUT and UCR for you, and fast too! Just call 877.520.8640 or email ettplus@expresstrucktax.com.

If Your First Use Month Was October, File Your Form 2290 Today

Posted on November 30, 2020 by - First Used month

If you started using a vehicle in October 2020, you need to file your Form 2290 before November 30, 2020!

If you do not file before November 30, you will face penalties and interest from the IRS. You will immediately be hit with a penalty with equal to 4.5% of your owed tax amount.

How to Determine your First Use Month (FUM)

Your Form 2290 First Used Month is the first month that you start using your truck during a particular tax year. Your HVUT is always due at the end of the month following your FUM. 

So if you started using a truck in October 2020, your Form 2290 return will be due at the end of November. The Form 2290 tax year runs from July 1 – June 30 of each year.

How to file your 2290 on time

The easiest way to complete your Form 2290 by the deadline is to e-file with ExpressTruckTax. 

All you have to do is enter your business information and answer some questions about your truck. You’ll need your FUM, your weight category, and a way to make your IRS payment.

The whole process takes less than 5 minutes and you’ll get your stamped Schedule 1 back in a matter of minutes.

10 Things Truckers Need To Know About IRS Form 2290

Posted on November 11, 2020 by - IRS form 2290

 
Time and time again truckers filing their 2290 online tend to ask the same questions and make the same mistakes when it comes to their heavy vehicle use taxes. So let’s go over the most common questions, so they are fresh in your mind when you e-file your 2290.

1. Is my vehicle subject to the HVUT/Form 2290?

You are subject to HVUT/Form 2290 if you are registering a vehicle in your name as an owner-operator or self-employed driver, it weighs more than 55,000 pounds, and you are using it on public roads. The Heavy Vehicle Use Tax applies to both interstate and intrastate drivers.

2. If I am based in Canada or Mexico, does the HVUT apply?

Yes, if you drive your vehicle in the United States. You will need to file a 2290 Form and pay any owed taxes. You will also need to carry proof of tax compliance when entering the U.S. as well.

3. When is the Form 2290 deadline?

IRS Form 2290 returns are due on the last day of the month following your vehicle’s first month of use during the reporting period. That means if your vehicle was on the road last July the deadline for filing is August 31.

If a new vehicle goes into service during the reporting period, you will need to file an additional Form 2290 and pay the tax amount. For example, if you purchased a vehicle in November, you are required to put the vehicle in your name making its first month of use December. In this case, you will need to file an additional Form 2290, and pay owed taxes on or before December 31. This is a partial year filing and will be a reduced tax amount.

4. Can I suspend my Heavy Vehicle Use Tax?

You can apply for a suspension of the Heavy Vehicle Use Tax if you expect to drive your vehicle less than 5,000 miles during the year (7,500 miles for agricultural vehicles).

However, you are still required to file IRS Form 2290 even though you do not have a tax payment. If you do end up driving more than expected, you must file an amendment to your original 2290 and pay taxes.

5. Am I required to file my 2290 Form online?

Only if you have 25 or more qualified vehicles. If you do, the IRS does not require you to file 2290 online. However, the IRS highly encourages all taxpayers to file and pay online with an IRS-authorized e-file provider, like ExpressTruckTax.

6. How can I claim a credit?

Now is the time for you to claim any credits you earned last year. Credits can be claimed using a couple of different methods.

If you ended up driving your vehicle less than 5,000 miles (or 7,500 for agricultural vehicles) you can claim a credit. Or if your vehicle was stolen or destroyed last year, you can also claim a credit. For more information, check out this page.

7. Can I claim a refund on my IRS Form 2290?

Yes, if your credit exceeds your taxes owed on your filing, you will need to file a refund. This can be done by filing IRS Form 8849, Claim for Refund Excise Taxes.

8. What do I need to register my vehicle?

Proof of your HVUT payment is required before you register your vehicles. You will not be registered unless you can provide your stamped Schedule 1.

9. How do I pay 2990 online?

When you file 2290 online with ExpressTruckTax, you can pay via the Electronic Federal Tax Payment System (EFTPS), or by check/money order.

10. Where can I find more information about IRS Form 2290?

You can check out our blog page for more information concerning pre-filing and the upcoming 2290 season. Check out our FAQ page which answers more questions you might have about Form 2290. Or you can find more information via the IRS publication “Instructions for Form 2290.”

We Got Your Back

We understand that we are coming up on a very stressful time for the trucking industry, but we will be there every step of the way. We will continue to supply you with up-to-date information about the IRS Form 2290 deadline.

ExpressTruckTax is a trusted IRS-authorized e-file provider with a simplified step-by-step filing process. We also offer 24/7 support in both English and Spanish to answer any of your questions.

IFTA Fuel Tax Penalties That Will Make You Want to File Now

Posted on October 21, 2020 by - IFTA reporting

 
The IFTA fuel tax deadline is right around the corner!

Don’t wait any longer – Failing to file IFTA by the end of the month will lead to a serious headache.

The fuel tax isn’t something you can just avoid. Ignoring it will simply make IFTA filing even more expensive than it originally was.

This is a quarterly tax, so stay on top of deadlines. The 3rd quarter deadline is November 2.

Here’s what happens if you miss the deadline.

IFTA Fuel Tax Penalties That Will Make You Want to File Now

Late Fuel Tax Filing

You are responsible for filing your IFTA tax return on time.

If you don’t, you’ll face a fee of $50 or 10% of your tax, whichever is higher.

On top of that, you’ll be charged interest for each month that your IFTA fuel tax goes un-filed, and you’ll have to pay this interest for every jurisdiction you owe money to.

Why Should You File?

If heavy penalties aren’t enough motivation to file, consider this.

Ultimately, if your IFTA tax return is never filed and your fuel tax remains unpaid, your license will be revoked.

You need to file an IFTA tax return if your vehicle:

–  Has 2 axles and a gross vehicle weight or registered gross weight > 26,000 pounds
–  Has 3 or more axles regardless of weight
–  Has a combined weight > 26,000 pounds

 

How To Avoid IFTA Fuel Tax Penalties

IFTA filing is simple. There should be no reason for you to miss the fuel tax deadline.

ExpressTruckTax offers a service for IFTA form generation online in one convenient location.

We will generate your IFTA fuel tax rates for you in an easy-to-read quarterly IFTA report with everything you need to complete your return.

You can print, download, or email this information at any time.

Plus, with features like bulk & GPS data upload, pre-auditing, a free IFTA Tax Calculator, and US-based customer support, you’ll be done with your fuel tax in no time.

What You Need to File Your IFTA Tax Return

Posted on October 16, 2020 by - IFTA reporting

Don’t forget about the 3rd quarter IFTA fuel tax deadline on November 2! To help you get this tax filed quickly, here is what you need to file your IFTA tax return online in a matter of minutes.

What You Need to File Your IFTA Tax Return

  • Total miles traveled per jurisdiction
  • The total amount of fuel purchased per jurisdiction
  • The total amount of fuel consumed per jurisdiction
  • The current tax rate per jurisdiction
  • The amount of tax paid per gallon of fuel per jurisdiction

Steps to E-File Your IFTA Quarterly Return

  1. Create ExpressTruckTax Account
  2. Enter Business Details
  3. Indicated Base Jurisdiction
  4. Enter Vehicle Details
  5. Miles & Fuel Records
  6. Generate Your IFTA Report
  7. File With Your Base Jurisdiction

When is the IFTA Due Date?

Your July through September records for the 3rd quarter IFTA deadline are due to the IRS by November 2, 2020 (because October 31 is a Saturday).

Quarter PeriodsReporting PeriodDue Dates
1st QuarterJanuary -MarchApril 30
2nd QuarterApril – JuneJuly 31
3rd QuarterJuly – SeptemberOctober 31
4th QuarterOctober – DecemberJanuary 31

Looking For an IFTA Software?

ExpressTruckTax‘s sister product ExpressIFTA is full of innovative features to help you complete your IFTA quarterly fuel tax report. All you have to do to get started is create your free account, enter your business information, specify your base jurisdiction, enter your vehicle details, list your miles and fuel records, and generate your IFTA quarterly fuel tax report.

Say goodbye to the days of complicated calculations. ExpressIFTA’s software will accurately calculate your IFTA fuel tax rates and IFTA tax based on the information provided. Never worry about over or underpaying again.

Plus, their built-in diagnostic error audit can be run on your reports to catch any fundamental filing errors based on your estimated miles per gallon. It will recognize when miles traveled aren’t between adjacent states, and if you purchased fuel in a state you have not traveled in.

Everything You Need to Know About Form 2290 Taxable Vehicles

Posted on October 13, 2020 by - Taxable Heavy Vehicle

Every commercial motor vehicle with a taxable gross weight of 55,000 pounds or more must file a Form 2290 every year.

However, while everyone must file a Form 2290, not everyone must pay the Heavy Vehicle Use Tax (HVUT).

Some vehicles are Form 2290 tax-exempt and do not need to pay taxes to the IRS.

Taxable Vehicles

Most commercial motor vehicles will be subject to HVUT. Every vehicle that has a taxable gross weight of 55,000 pounds or more and drives more than 5,000 miles (7,500 for agricultural vehicles) must file Form 2290 and pay heavy vehicles use taxes.

The taxable gross weight of your vehicle is a sum of the following:

1. The actual unloaded weight of a fully equipped vehicle.

2. The actual unloaded weight of any trailers or semi-trailers that is fully equipped and is generally used in combination with the vehicle. 

3. The weight of the maximum load usually carried on the vehicle and the trailers or semi-trailers. 

HVUT Exempt Vehicles

Low mileage

If you do not drive a vehicle more than 5,000 miles in a tax year, that vehicle is considered tax-exempt! You will need to file a Form 2290 to stay up-to-date with the IRS, but you will not need to pay HVUT.

Agricultural

An agricultural vehicle is defined as a vehicle used exclusively for farming purposes and registered as a highway motor vehicle that is used for farming purposes. 

Agricultural vehicles will also be tax-exempt if they are driven less than 7,500 miles on public roads.

File your Form 2290 today

If you have a commercial motor vehicle you will need to file a Form 2290! There’s no easier way to file than with ExpressTruckTax! The e-filing process is easy to understand and only takes a few minutes.

How do you correct an IRS Form 2290 that has been rejected?

Posted on October 5, 2020 by - Form 2290 rejection

Form 2290 rejection can happen to anyone.

The IRS typically rejects returns for one of three reasons:

  1. The Business Name entered does not match with the EIN listed in the IRS database.
  2. The Bank Routing Number entered in the Electronic Funds Withdrawal (EFW) payment option to pay your HVUT is invalid.
  3. The return is a duplicate of a previously accepted return. Typically, this is because either the EIN or VIN is incorrect.

For more information about these reasons for rejections, click here. But once your return is rejected, what do you do?

How to correct and IRS Form 2290

When you file with ExpressTruckTax, we will notify you as soon as your return is rejected or accepted. If it is rejected, we will also tell you why it was rejected and how to fix it. Retransmitting rejected returns is always free.

Plus, with our ExpressGuarantee, our US-based customer support team will do everything they can to get your return accepted, or your money back. (Learn more about our ExpressGuarantee.)

If your 2290 was rejected because the business information was incorrect, simply log into your ExpressTruckTax account and edit your business details.

If your 2290 was rejected for either of the other reasons, simply click on the return that was rejected in your ExpressTruckTax account. Click on “Fix Errors & Resubmit”. The system will ask you a few questions to help you correct the error. Depending on the issue, you will be taken to the section that needs updating. 

Correct your 2290 now

It only takes a few minutes to correct and retransmit your rejected Form 2290! 

Plus our US-based customer support team is here to help get your 2290 accepted! You can give them a call at (704) 234-6005, between 9am and 6pm EST, Monday through Friday.

We’re Back With More Exciting ExpressStats From August 2020!

Posted on October 1, 2020 by - American truckers

Our second edition of ExpressStats just dropped!

Head on over to https://www.expresstrucktax.com/express-stats/ to see a snapshot of trucking data from our clients during the busiest Form 2290 month of the year!

ExpressStats is a composite of trends among our clients (it includes no personal information). You’ll find great aggregated information about the most popular truck brand, biggest trucking city and state, and much much more!

We know this will be a valuable resource to help you stay engaged and informed about current trends in the trucking industry.

To download the August 2020 ExpressStats: Trends Among American Truckers, click here. Simply enter your contact information and we will email you ExpressStats!

How to Make the Most of Driver Appreciation Week 2020

Posted on September 15, 2020 by - driver appreciation week

National Truck Driver Appreciation Week is this week! We’re celebrating our American truck drivers from September 13-19, 2020.

If you’re a truck driver, we want to take this moment to thank you for all that you do to continuously move this country forward, especially this year during the pandemic.

Keep reading to find some awesome deals that will be offered during Truck Driver Appreciation Week.

If you’re a loved one or a family member of a truck driver, we’ve got some great gift ideas for truckers for you to check out. We’ll help you show appreciation for the truck driver in your life. 

National Truck Driver Appreciation Week 2020

Truck Driver Week Deals

Truck drivers haul more than $10.4 trillion worth of merchandise every year.

That’s no small feat.

Certain places will be offering deals throughout Driver Appreciation Week to say thank you.

T.A. Petro is running a “Swipestakes” all month.

Simply use your UltraONE card at a T.A. Petro card to enter. There are some great prizes.

Keep an eye out for other deals and specials as the week progresses.

Gift Ideas for Truckers

If you’re here as a friend or loved one of someone in the trucking industry, we’ve put together a list of gifts for truck drivers for you to help show your appreciation.

1. Check out the ATA Online Store

Tons of trucker gear for your favorite truck driver. Plus they even have some stuff with this year’s Driver Appreciation Week 2019 logo on it.

2. Stainless Steel Insulated Tumblers

Keeps drinks cold, fits in the cup holder and is sealed tight to prevent spills.

Plus, it keeps truck drivers from accumulating a bunch of disposable cups. It’s perfect!

3. Cooler

It’s no secret that food on the road is one of the toughest challenges of being a truck driver.

Surprise your driver with an insulated cooler bag full of his/her favorite goodies this year for National Truck Driver Appreciation Week.

4. Toiletry Bag

Truck sleepers aren’t always the cleanest or roomiest places, and truck stop bathrooms aren’t much better.

One of the best gifts for truck drivers is a hanging toiletry bag.

It saves space, makes it easy to organize things for quick use, and is portable.

5. Multi-tool

You never know what you’ll need on the road!

A new multi-tool could be the perfect gift for your truck driver this year.

There are tons of options to choose from, and you could even consider getting it customized!

6. Wool Blanket

Fall is approaching fast. Consider gift ideas for truckers that provide comfort in the cooler months.

One perfect gift is a wool blanket, lightweight and durable, with great heat-trapping capabilities.

American Truck Drivers

At ExpressTruckTax, we work hard every day to make the lives of truck drivers easier.

Happy Driver Appreciation Week 2020! We appreciate everything you have done this year especially for our nation, and we will continue to serve you as best we can.

We’re here to help. If you ever need us, feel free to give us a call at 704.234.6005.