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September 22, 2017 - Industry News

Businesses Can Expense Up to $500K in Truck Purchases

Businesses can expense up to $500,000 in tax year 2017 for certain capital expenditures, including commercial work trucks such the FUSO FE/FG Series. (Image courtesy of Mitsubishi Fuso Truck of America)

The U.S. Internal Revenue Code, Section 179 (commonly referred to as IRC-179) allows businesses to expense up to $500,000 in the tax year 2017 for certain capital expenditures, including commercial work trucks.

Tags: IRS, Taxes, Vehicle Purchasing

March 3, 2014 - Industry News

FMCSA Official Pleads Guilty in Tax Fraud Scheme

An official with the Federal Motor Carrier Safety Administration has pleaded guilty for her role in a conspiracy to obtain fraudulent tax refunds, sometimes using the personal information of other individuals without their knowledge or permission.

Tags: FMCSA, IRS, Office of Inspector General, Fraud, Crime

February 10, 2014 - Industry News

IRS Going After Late HVUT Payments

A break the IRS gave to trucking over the filing of the heavy vehicle use tax more than two years ago is coming back to haunt some people.

Tags: IRS, Taxes, Owner-Operators

February 5, 2014 - Industry News

FET Exemption for Glider-Kitted Trucks Might End, IRS Indicates

Exemption from the 12% FET is a major benefit of buying gliders instead of new trucks, but new IRS thinking would take away that break.

Tags: Taxes, Equipment, Federal Excise Tax, Glider Kits, NTEA, NTDA, IRS, Dealers

August 26, 2013 - Industry News

Reminder: Highway Use Tax Return Due Sept. 3

The Internal Revenue Service is reminding owners of heavy highway vehicles that in most cases, their next federal highway use tax return is due on Tuesday, Sept. 3.

Tags: IRS, Taxes, trucks

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