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Trucking companies form the backbone of the transportation industry, ensuring that goods are delivered efficiently and promptly across the country. However, with the increasing complexity of tax regulations, many of these companies find themselves struggling to maintain tax compliance. Non-compliance can lead to severe penalties and financial setbacks, posing a significant threat to their operations. In this blog post, we will explore the common tax compliance challenges faced by trucking companies and highlight how our specialized tax firm can offer tailored solutions to help them overcome these hurdles.

Understanding the Tax Compliance Challenges

Trucking companies, both large and small, grapple with a myriad of tax compliance challenges that can easily overwhelm their financial resources and workforce. Some of the most common problems include:

Complex Reporting Requirements: Trucking companies must deal with a wide range of tax forms and reporting obligations, such as fuel taxes, highway use taxes, International Fuel Tax Agreement (IFTA) filings, and heavy vehicle use taxes (HVUT). The intricate nature of these requirements can easily lead to errors and omissions.

Contact us for professional tax help today!

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Are you in need of a tax preparation expert in Santa Fe Springs? More than enabling your problem to grow and acquire more fees, penalties and fines, we can help you with your business bookkeeping and tax preparation needs. We are a firm with experts in auditing and resolving IRS issues, we can help you find solutions to your tax problems. You need an expert in tax preparation services in Santa Fe Springs in California to enable your business to find the appropriate tax resolution and get help.

Call us today at 562-204-6700.

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Filing bасk taxes саn bе tricky аnd to еnѕurе іt is done properly thеrе аrе a fеw guіdеlіnеѕ you ѕhоuld fоllоw. Pаt уоurѕеlf оn thе back because уоu are bеgіnnіng the рrосеѕѕ of fіlіng уоur bасk tаxеѕ. If you dо nоt fіlе unfiled returns, уоur IRS рrоblеmѕ wіll continue tо rіѕе.  Pеорlе whо thіnk the IRS will not fіgurе оut thеу dіd not file, they are wrоng, get help with delinquent unfiled back tax returns. Ignоrіng the IRS оr fаіlіng to fіlе unfіlеd rеturnѕ wіll eventually lеаd tо enforced соllесtіоnѕ thаt will сrеаtе ѕеvеrе financial ѕtrаіn.

Get a free case evaluation today 877-788-2937.

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IRS Urges Travelers Requiring Passports to Pay Their Back Taxes or Enter into Payment Agreements;

People Owing $51,000 or More Covered

The Internal Revenue Service today strongly encouraged taxpayers who are seriously behind on their taxes to pay what they owe or enter into a payment agreement with the IRS to avoid putting their passports in jeopardy.

This month, the IRS will begin implementation of new procedures affecting individuals with “seriously delinquent tax debts.” These new procedures implement provisions of the Fixing America’s Surface Transportation (FAST) Act, signed into law in December 2015. The FAST Act requires the IRS to notify the State Department of taxpayers the IRS has certified as owing a seriously delinquent tax debt. See Notice 2018-1. The FAST Act also requires the State Department to deny their passport application or deny renewal of their passport. In some cases, the State Department may revoke their passport.

Get a free brief case evaluation by calling us at 877-788-2937. Don’t let the IRS ruin your life, call today!

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Dear Client:

As the end of the year approaches, it is a good time to think of planning moves that will help lower your tax bill for this year and possibly the next. Factors that compound the planning challenge this year include political and economic uncertainty, and Congress’s all too familiar failure to act on a number of important tax breaks that will expire at the end of 2016.

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I came across this good article, and I wanted to share with you.

Checking Up on the Affordable Care Act

By Rande Spiegelman

SOURCE: SCHWAB

 With all the commentary and debate surrounding the Patient Protection and Affordable Care Act, or “Obamacare,” it can be difficult to figure out what to expect as an individual. The effects of the new law will vary from person to person and state to state, but as investors, we should pay particular attention to five key tax changes.

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Once you come to know that your tax return is to be audited by the IRS, panicking will be your first instinct. There will be no need for panicking if you seek professional help. Mike Habib is a  tax professional and will help you in preparing for the IRS tax audit and ensure that you achieve the best possible outcome.  Generally, it is a proven fact that individuals must not handle the proceedings of audits themselves. The reason for this is that individuals aren’t aware about the IRS and their proceedings; they may even give out certain information that can open up an even more thorough investigation.

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Taxation is the area in which there can’t be any error, especially if it’s a business. There are so many mistakes an individual can possibly make like penalties, interest and additional taxes. Poor record keeping can result in an audit which is quite an expensive and time consuming procedure. An audit can lead to penalties which can further cause you to lose money. This is the reason why hiring a tax professional is better as compared to doing your taxes yourself.

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If you haven’t filed taxes for a few years, first and foremost, take a big breath. It’s not great news, but it’s not the end of the world either. You might like to know that you are not alone; there are roughly 6 million non-filers in the U.S every year. There are many reasons people do not file, with IRS research showing that often people do not file in years that they have status changes, like the death of a spouse or a divorce. Emotional and financial hardships are also cited as reasons that people do not file their tax returns on time. There are also people who have simply procrastinated.

No matter what the reason, you need to know that the only way to deal with the back taxes is to get compliant and file your taxes. There’s no way around it. If you don’t, the IRS will determine what they think you should pay, and they will begin to put penalties and interest on top of what they estimate your tax liability to be.

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