September 2022 - Tax2efile Blog

IRS adds options for electronically amending 1040s

September 26, 2022

The Internal Revenue Service has announced that the taxpayers can now amend many IRS 1040 Forms, electronically. The Forms coming under this inclusion are corrections to Form 1040 NR, Forms 1040- SS, and Forms 1040- PR.               This initiative has become much more significant since 2020 when the IRS first launched its ability to file amended returns. This is an important milestone to help the tax community and the taxpayers.  This new...

Record Keeping of HVUT Form 2290

September 16, 2022

The Internal Revenue Service requires the taxpayers to keep the files of the HVUT taxes for at least three years, after the date, the tax is being paid or whichever is later. IRS mandates that the records are always available for inspection during this period.  What are the records that are to be kept for IRS inspection? The types of records that are to be kept by the taxpayers according to the instructions from the IRS are, ...

Top Trucking Legal Issues to Know on 2022 Tax Year 

September 12, 2022

Forecasts suggest that between 2020 and 2050 the freight activity will grow up to 50%, which is 28.7 billion tons. There is a significant legal issue that surrounds this field as well. If the fleets must clear their trouble with their transports and favor themselves, they should create a solid game plan and keep legal issues at bay. Here are some of the top legal issues the trucking business could face in 2022. The top trucking legal...

ACT Research: US Recession Risk Growing

September 9, 2022

The trucking industry enjoyed its peak during the supply chain crash at the start of the Covid pandemic. The pandemic trucking industry is now gone, and there are chances that we do not see this type of demand again for ACT Research.  Pandemic and the trucking industry: At one point in time, during the pandemic, the truckload spot market started to handle more than one million loads per day, versus the historical average of 4,00,000. They kept...

Truck driver vaccine mandate in place until at least September 30

September 6, 2022

The cross-border trucker vaccine mandate is still in place at Canada’s border. This Canada’s vaccine mandate for border-crossing truck drivers will remain in place until September, 30th. This restricts unvaccinated foreign nationals from entering the country. The Americans crossing the US-Canadian border should get complete vaccination against Covid- 19, and are subject to random arrival testing. They are mandated to load data through the Arrive CAN app within 72 hours (about 3 days) of travel, as per...