New Draft Crane and Derrick Rules
The U.S. Department of Labor's Occupational Safety and Health Administration (OSHA) recently issued proposed regulations for cranes and derricks. The proposed rules focus on key crane safety issues--ground conditions, the assembly and disassembly of cranes, the operation of cranes near power lines, the inspection procedures for cranes, the use of safety devices and signals and the training and certification of crane operators.
Electronic Filing Required
Contractors with 25 or more trucks, tractors or other heavy vehicles used on highways must now file their excise tax, Form 2290 (Heavy Highway Vehicle Use Tax Return) electronically with the IRS. Contractors can choose to file Forms 720 (Quarterly Federal Excise Tax Return) and 8849 (Claim for Refund of Excise Taxes) electronically also.
Increases Expected in Federal Highway Spending
Industry observers are speculating that state and local governments facing serious fiscal problems in 2009 may defer transportation investments to meet budgets. However, federal spending may blunt the impact of any such cutbacks. Congress increased federal highway funds in 2008 by 5.5% over 2007's number by allocating $41.2 billion in spending. In addition, the recently enacted American Recovery & Reinvestment Tax Act of 2009 makes infrastructure spending one of its priorities.
Work-In-Process is provided by
Somerset for our clients and other interested persons upon request.
Since technical information is presented in generalized fashion, no
final conclusion on these topics should be made without further review.
For additional information on the issues discussed,
please contact
Ken
Hedlund,
Jay Feller,
Steve George,
Chris
Mayfield or
Rebecca Ogle
of our
Construction & A/E Team.
This document is not intended or written to be used, and cannot be used,
for the purpose of avoiding tax penalties that may be imposed on the
taxpayer.
Somerset CPAs,
P.C.
3925 River Crossing Parkway, Third Floor
Indianapolis, Indiana 46240
317.472.2200 • 800.469.7206 • FAX 317.208.1200
www.IndianaConstructionCPAs.com
