It's a Team's Life FET is DUE

[chillout]

Federal Excise Tax (FET), pay it now or pay it later!

When a CMV owner increases the carrying capacity of the truck, a Federal Excise Tax is due. It may take one month, six months, or three or many years, it is a certainty that the IRS will eventually collect the taxes owed.

Federal excise tax is 12% of the purchase price of a new truck that is over 33,000 lbs. GVWR. A perceived tax loophole is to buy a less than 33,000 lbs. GVWR to avoid the FET and then, after six or more months have passed, add a lift axle and have the GVWR changed to 33,000 pounds. So, now what happens if, after an axle is added and the ability to carry over 33,000 pounds is registered? Easy answer: 12% is due on the value of the truck and the axle.

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[BigStickJr]

There's a lot of old wives tales.......

Maybe there's too many old wives expediting ?

 

[tknight]

That's not a wives tail !

 

[BigStickJr]

TK, you didn't read to the end.
Linda's last comment was there are a lot of old wives tales about this issue.
I commented on her comment.

I know this is not an old wives tale.

I know people are being forced to pay the FET now. They've been whispering about it for months, like it's some dark little secret.
Maybe nobody wants to say I was stupid enough to get caught.

Edit: Maybe I should have said stupid enough to think I'd get away with it.
I've heard a few rumors about stupid things people did to get caught. Once a few got caught, and probably said , " But everybody does this" it got the wrong persons attention.