August Newsletter

Upcoming Deadlines

Tags Beginning with Q-R Renewal Paperwork Due........................... August 15th

2290 Payment Due in Full.....................................................................August 15th

Tags Beginning with O-P Expire...........................................................August 31st MCS150 ending in 8 preceded by even number (08,28,48,68,88)........August 31st

Last Month To Renew 2290 Before Penalties Issued

If you have not renewed your Heavy Highway Use Tax (Form 2290), this is the last month

to renew before occurring late penalties from the IRS. We must receive full payment

by August 15th to guarantee your 2290 will be filed on time without late penalties.

Our processing fee for the 2290s is $80 for the first truck and $60 for each additional truck.

RENEW 2290

Tags Expiring and Renewals Due

Effective immediately: all carrier lease agreements must contain

carrier DOT number and EIN number.

Tags beginning with O or P expire August 31st.

Tags beginning with Q or R must submit paperwork by Aug 15th

Those of you with tags beginning with Q or R are required to submit documents to the state by August 31st to avoid a 10% late filing penalty. We need your paperwork by August 15th to file these documents on time.

Our tag work processing fee begins at $90.

GA IRP DEADLINES

***10% late filing fee if renewal is not filed 30 days prior to tag expiration***

***25% late payment fee if paid after expiration***

RENEW IRP

2nd Quarter Fuel Taxes Past Due

Fuel taxes for the 2nd quarter of 2024 (April 1st - June 30th) are late as of August 1st. The state charges a $50 late penalty or 10% of what is owed, whichever amount is greater. Keep in mind that an additional 1% of your total owed is applied to every month your fuel taxes are late, so don't delay in getting your information to us if you have not yet done so!

If you have an IFTA account and did not run in 2nd quarter, we will still need a statement from you to file a zero return to the states on your behalf.

Be sure to continue keeping track of your gallons and mileage for 3rd quarter which covers July 1st - September 30th. That information will be due to our office by October 15th.

UPLOAD FUEL TAX DOCUMENTS

ZERO RETURN

MCS-150 Update

In accordance with FMCSA MCS-150 regulation 49 CFR Part §390.19, every two years all motor carriers are required to update their MCS-150 information with the FMCSA. This update must be completed in the appropriate month, every even or odd year, based on your DOT#, even if none of your information has changed, and regardless of when you last updated. Failure to complete a biennial update in your assigned month may cause deactivation of your USDOT number and could result in civil penalties of up to $1,000 per day (not to exceed $10,000). If your DOT number ends with the number 8, your MCS-150 may need to be updated. If the number before the 8 is an even number, you must renew by the end of August this year. If the 8 is preceded by an odd number, you are due for an update August of next year.

UPDATE MCS150

CORPORATIONS

If you have a corporation or LLC, please check below to see if your renewal is due this month.

August 1st............................................North Dakota Annual Report

If you have a corporation in one of the following states, your renewal is based on your formation date. If you are unsure, please call a representative today.

Arizona, California, Colorado, Connecticut, Hawaii, Idaho, Illinois, Indiana, Louisiana, Missouri, Nevada, Oregon, South Dakota, Utah, Virginia, Washington, Wisconsin, Wyoming

CORPORATION RENEWAL

BOI REQUIREMENTS FOR ALL LLC AND CORPORATIONS

BENEFICIAL OWNERSHIP INFORMATION

If you have not completed your BOI information, we need to apply for your FinCen number and update your BOI information to keep your corporation or LLC compliant with the Financial Crimes Enforcement Network.

**Please note, if this is not completed there is a $500 per day fine and could be subject to two years imprisonment and a fine of up to $10,000.

The new beneficial ownership requirement for corporations pertains to the disclosure of individuals who ultimately own or control a company. This regulation aims to increase transparency and combat issues such as money laundering and corruption by ensuring that the true owners behind corporate entities are identified and documented. Compliance with this requirement is essential for corporations to maintain accountability and integrity in their operations, as well as to adhere to legal and regulatory standards.

OTHER SERVICES

DOT COMPLIANCE

The Department of Transportation requires

that all drivers operating vehicles of

26,000 pounds or more be enrolled in a

drug and alcohol consortium. Our office

covers the drug testing costs for you; so

you don’t need to worry about any

additional fees.

PERMITS

Our permit specialists here at TFIG can

help in getting your trip, fuel, oversized and

overweight permits. We will review details

of your load to ensure that you meet each

state’s requirements for safe and compliant

traveling.

Any special permits ordered after 4pm will not be processed until the next business day.

Our primary objective is to provide you with the necessary assistance to ensure seamless compliance within your business operations. Our dedicated team is committed to supporting you every step of the way, offering expert guidance and valuable resources to guarantee that your business remains in line with all regulations and requirements. Trust us to be your reliable partner in maintaining compliance effortlessly and effectively. Here are just a few of the many additional services we provide.

IRP/IFTA Audits

Safety Audits

Corrective Action Plans

DBE/WBE Applications

Carrier Packets

TWIC Cards

UIIA

SCAC Code

ACCOUNTING

Need help with your taxes? We can process your personal and business taxes for

you! Business taxes were due March 15th, and personal taxes were due April 15th.

We also offer specialized bookkeeping and accounting services to keep your business

records on track. Call our accounting department today at 770-233-6098.

The Financial Integrity Group | info@tfig.org | 877-233-9014 | www.tfig.org