TRUCKING BLOG

Missing a tax deadline can happen, especially for owner-operators who are busy running their businesses. However, what matters most is what you do next. Filing your tax return as soon as possible after the deadline can significantly reduce the penalties and interest that build up over time. The longer you wait, the more expensive the situation becomes. When a taxpayer misses the deadline and owes taxes, the IRS generally applies two different penalties: the failure to file pe

In the aftermath of Hurricane Helene and Hurricane Milton, ATBS sends sincere prayers and wishes for the safety of all of our clients and...

Tax law is complicated and can be confusing. It can also be overwhelming to catch up on past-due tax liabilities when you’ve fallen...

So, you want to take advantage of home office tax deductions on your tax filing? With more and more Americans conducting work from home,...

1. Work With a Trucking Tax Professional Running a business is difficult. It’s even harder when you’re on the road driving all day. Having someone who can help you run the business side of trucking can be a big asset. Don’t work with just any accountant - work with tax professionals in the trucking industry. Learn More 2. Keep Your Accountant Updated If you’re working with a tax professional, make sure you’re keeping them updated throughout the year and not just at tax time.

There are many differences between W-2 and 1099 truck drivers. In this article, we'll talk about the main differences between the two,...

You may have found yourself in a situation where you've completed your tax filing and realized that you missed something. If this sounds like you, then don’t worry. All you need to do is follow these tips on how to file an amended tax return. 1. Start with the right form. Use Form 1040X, Amended U.S. Individual Income Tax Return, to correct your tax return. Taxpayers are able to amend Form 1040 and 1040-SR returns electronically. In some cases, a paper Form 1040X may still b

Tax season can be stressful, especially for independent truck drivers since they don’t have taxes withheld from their pay. If you’re facing a tax bill you can’t afford to pay right now, you’re not alone, and you do have options. Below are practical, step-by-step tips for owner-operators who are unable to pay their full tax liability. These tips are meant for anyone required to file a U.S. tax return who owes money to the IRS, but doesn’t have the cash on hand to pay it in ful

Here at ATBS, we understand that tax season is no joke. However, we decided to lighten the mood by coming up with a list of our Top 10...

If you find yourself waiting in line at the post office on April 15 then it’s time you make a change that will save you time. You can...