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An employer in the United States may provide transportation benefits to their employees that are tax free up to a certain limit. Under the U.S. Internal Revenue Code section 132(a), the qualified transportation benefits are one of the eight types of statutory employee benefits (also known as fringe benefits) that are excluded from gross income in calculating federal income tax.
As of the 2018 tax year, Form 1040, U.S. Individual Income Tax Return, is the only form used for personal (individual) federal income tax returns filed with the IRS. In prior years, it had been one of three forms (1040 [the "Long Form"], 1040A [the "Short Form"] and 1040EZ – see below for explanations of each) used for such returns.
Others, such as Massachusetts, impose a less complicated fine schedule whereby a vehicle that violates the limits by less than 10,000 pounds (4,500 kg) is fined $40 per 1,000 pounds (450 kg), while a violation over 10,000 pounds (4,500 kg) pays $80 per 1,000 pounds (450 kg) (e.g. 5,000 pounds or 2,300 kilograms overweight equals a $200 fine).
IRS Direct File is a popular free program that offers guidance and support as you fill out your tax return and file your taxes directly with the IRS. And it may not be long for this world.
The Internal Revenue Service announced an increase in the standard mileage rates when people use their vehicles for business use. The standard mileage deduction rose to 67 cents per mile, up 1.5 ...
Commercial operation of a Class 8 vehicle in the United States requires either a Class-B CDL for non-combination vehicles, or a Class-A CDL for combination vehicles (tractor-trailers). [32] Industries that generally use Class 8 trucks are long-distance freight transportation, construction, and heavy equipment moving.
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