Failure to File Penalties
The Importance of Trucking Compliance
The trucking industry is an industry that is extremely safety conscience due to the nature of the business. This results in there being multiple regulations that need to be followed and multiple permits that need to be kept track of and renewed. Failure to comply can result in ten of thousands in fines and can potentially shut down your business. This means having a trucking compliance expert by your side is essential in running a successful trucking business. USA Truck Permits is here to help. Here are just a few of the penalties and consequences that trucking companies risk by not keeping up with their permits!
Having no IFTA sticker displayed can result in a fine depending on which jurisdiction you are in. Fines range from a few hundred dollars to thousands of dollars. California has a fine of $100 to $500. Illinois has a minimum fine of $1000. This can also cause difficulties when driving outside of your home state and DOT officers are more likely to pull you over and ticket your truck.
Failure to file IFTA tax reports are a serious offence which can be costly. Even if you did not haul outside of your home state and owe no IFTA taxes, you are required to file a IFTA tax report in most jurisdictions.
If you do not file IFTA tax reports, you can have your IFTA license taken away and incur penalties starting from 10% of your IFTA tax liability and more! Filing your report late may also incur penalties and revocation of your IFTA license too. 10% may not seem like much, but it can add up to $100's to $1000's of penalties owed!
Failure to renew your UCR (Unified Carrier Registration) every year can result in fines from $100 to $5000 depending on the state you are in. Enforcement officers can possibly detain your vehicles too.
Failure to file your IRS Form 2290 (Heavy Vehicle Use Tax) can incur heavy penalties to the IRS. Late penalties start at 4.5% of the total tax due, which is assessed on a monthly basis up to five months!
Not completing your MCS-150 update can result in the deactivation of your USDOT number and penalties of up to $1,000 per day up to $10,000 in total!
Failure to maintain a DQF for each of your drivers violates Code 391.51(a) and can result in penalties of up to $11,956. Not maintaining Driver Qualification Folders can also potentially cause you to fail your safety audits.
Your Texas Franchise Tax report is required in order to renew your Texas LLC or Corporation every year. Tax Code, §171.362, imposes a 5.0% penalty on the amount of franchise tax due when you fail to report or pay the tax when due. There are additional penalties if you fail to pay even longer. Your LLC or corporation will also be considered revoked and inactive.
Failure to result your TXDMV number may result in penalties of $1,000 per day, up to $10,000 in total. You possibly will also be denied loads from your customers and risk being ticketed by Texas enforcement officials.
Per the Code of Federal Regulations, $382.701 you are required to conduct annual queries if you are an employer of CDL drivers. Failure to conduct the clearinghouse queries can result in fine up to $2,500 per driver
Stay Compliant and Stress-Free with USA Truck Permits
These are only some of the punishments and fines that you can incur for not being compliant. Luckily, you have USA Truck Permits by your side. We provide a spot for trucking companies to upload and keep track of all the essential compliance files they need. We can also help manage and renew permits as they expire.
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