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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.