In this issue:
Well, they say when it rains it pours…except that the "rain" was in the form of a burst water pipe in the ceiling of the IRP Program Office in Downsview, causing extensive water damage to desks, carpeting and equipment. The responsiveness of our facilities Office, our property management office and the cooperation of the Downsview IRP Office enabled the efficient relocation of the Program Office staff. Construction plans continue with the intent of having our staff back home' soon.
The Internal Revenue Service (IRS) reminds truckers and other owners of heavy highway vehicles that the installment option for paying the federal highway use tax (HVUT) will no longer be available as of July 1, 2005.
This change was included in the American Jobs Creation Act of 2004 and applies to filers of Form 2290, Heavy Highway Vehicle Use Tax Return.
Beginning with the Form 2290 for the tax year that begins on July 1, 2005 and ends on June 30, 2006, the balance due shown on the form must be paid in full by the due date of the return. In most cases, the deadline for filing the return and paying any tax due is August 31, 2005. In previous years, taxpayers who filed Form 2290 on time could choose to pay the tax in up to four equal instalments.
In general, the highway use tax applies to trucks, truck tractors and buses with a gross taxable weight of 55,000 pounds or more.
The Jobs Act also eliminated reduced tax rates for vehicles registered in Canada and Mexico. For vehicles with a base registration in either country, the tax rate was 25% below the regular rate.
For more information on HVUT, check this link to a recent press release from the IRS: New Law Changes Highway Use Tax Rules.*
For questions regarding tax return account matters, tax deposits or filing requirements, please contact the IRS Customer Account Services staff toll-free at 1-800-829-4933, 8:30am to 5:30pm Eastern Time.
As part of the IRP Plan, each member jurisdiction is subject to periodic reviews referred to in the IRP Plan as a "Peer Review". The Peer Review Program provides a medium within the IRP Plan to review each member jurisdiction's administrative procedures and audit programs on a periodic basis for compliance with the Plan and Audit Procedures Manual. Peer reviews are conducted by a "Peer Review Committee" to ensure that jurisdictions are complying with the provisions of the IRP plan. Ontario's first Peer Review is scheduled for October 12-13, 2005. In preparation for our Peer Review, a consultant was hired in the summer of 2004, to review Ontario's IRP program and identify any operational gaps. Since then, the IRP Program has been working closely with all of the regions to implement manual processes to help address these operational gaps.
Looking for information on IRP? Need to download forms? Look no further than the Ministry's Internet site! Here you will have the latest IRP information and tools at your fingertips.
This newsletter, IRP News, will be published quarterly and will feature stories on the people and activities of IRP.
Check out our website. To download IRP Forms, click on the links at the top of the web page.
Coming Soon to our website is the Ontario IRP Carrier Manual.
IRP News, is published quarterly by the e-Business Office, Projects & Change Management Branch, Road User Safety Division, Ministry of Transportation. If you have any comments about IRP News, please contact Jackie Zaffino at 416-235-4357, email@example.com.