Tax issues and red flags for the trucking industry
Complying with IRS regulations is complicated in the trucking industry. It important that all businesses establish a relationship with a tax professional familiar
with your industry. Click here to visit the IRS posting of audit issues for the trucking industry. It includes:
- Per diem meal reimbursement - maximum amount and percentage allowed
- Port haulers may not be independent contractors
- How to handle rebates and fines and penalties on income tax
Please review these issues with your tax advisor.