OICs require upfront payment, IRS says

Jul 21, 2006

Under a new federal law, taxpayers submitting new offers in compromise (OIC) must make a 20 percent nonrefundable, upfront payment in many cases, the Internal Revenue Service announced. An OIC application is deemed accepted if the IRS fails to act upon it within two years.

The IRS is updating its Form 656 to reflect the tax-law changes. For more information, go to www.irs.gov and search IR-2006-16.

Unique requirements for hiring truck drivers

Failing to meet FMCSA driver hiring rules can lead to $10,000+ fines, costly litigation, and higher insurance.

Cost per mile dips slightly thanks to fuel prices, truck and trailer payments soar

Texas Supreme Court overturns nuclear verdict against Werner

Mack Trucks reintroduced its Anthem model Tuesday as 'the new standard of regional haul.'

'Brand new' Anthem reintroduced as Mack's regional haul truck

At Yale University in the mid-1960s, Fred Smith conceived the idea for an integrated air-to-ground system that would ensure overnight delivery, a concept that would eventually become Federal Express.

FedEx founder Fred Smith passes away

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In House or Outsourced Maintenance

The decision between bringing fleet maintenance in-house versus outsourcing is a pivotal one that could significantly affect your operations.