Express Truck Tax Blog | E-file IRS HVUT Form 2290 & 8849 and File IFTA

The IRS Reminds Truckers They Have Extra Time

September 10th, 2011

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Truckers should wait until November to file their federal highway use tax returns – a three-month extension — in this new YouTube video.

Watch this and other videos on the IRS’s YouTube Channel

Transportation Bill clears Senate committee

September 10th, 2011

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As of Thursday, September 8, 2011 the much talked about Transportation Bill known as SAFETEA-LU (Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users) was approved by a Senate committee.

This bill has had a significant amount of publicity ever since President Barack Obama made a speech from the White House Rose Garden last week, in which he was joined by Transportation Secretary, Ray LaHood, as well as Richard Trumka, president of the AFL-CIO, and also David Chavern, the chief operating officer of the Chamber of Commerce. He gave Congress another warning at that time also, stating that letting the transportation bill expire at the end of the month would be “not acceptable” and “inexcusable.”

The Senate Committee approved an extension of the current bill. This is the eighth time the bill has been extended. This will serve as a step in the right direction for the Transportation Industry, but as many have said, an extension is like a band aid on a bigger problem. There still needs to be new legislation put in place for this industry, it cannot simply be ignored.

However, the act of extending the bill seems to be all either party can agree to. The Democratically-controlled Senate and the Republican-controlled House of Representatives have presented vastly different options for this bill. The House proposed spending $235 billion over the next six years, while the senate proposed spending $109 billion over the next two years.

When asked to comment on the decision, Senator Frank Lautenberg of New Jersey stated: “The American people didn’t send us here to make unemployment worse and allow our roads to crumble—and that’s why we must act swiftly to extend this law,” he continued. “Instead of putting up roadblocks to this extension, I hope our colleagues will work with us to fix the economy, help Americans get back to work and keeps our country moving forward. Once we have passed this short-term fix, we need to complete work on a long-term bill that strengthens investment in our national transportation network to create jobs, maintain our roads and bridges, and invest in rail and transit to ease commutes.”

This is a positive step for the Trucking and Transportation Industry. Although it is still not possible to file Heavy Vehicle Use Taxes with Form 2290, the folks at Express Truck Tax will be available to answer any questions and help drivers file those taxes. For more information, visit the Express Truck Tax website or call our Truck Tax experts at 704-234-6005. You can also email any questions to support@ExpressTruckTax.com.

President Barack Obama Pushes for the Renewal of Transportation Bills

September 6th, 2011

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On Wednesday, August 31, 2011 at the Rose Garden, President Barack Obama spoke about the pending Transportation Bill currently in Congress to a large gathering of highway workers. He was joined by Transportation Secretary, Ray LaHood, as well as Richard Trumka, president of the AFL-CIO, and also David Chavern, the chief operating officer of the Chamber of Commerce.

Among other things, the main focus of President Obama’s speech revolved around the necessity of renewing the Transportation Bill that is currently set to expire September 30. The primary arguments for extending the bill were that not extending it would cost up to a million jobs of hard working highway workers and extending the bill would also bring much needed tax revenue to fund road repairs and maintenance.

“Now is the time for Congress to extend the transportation bill, and keep our workers on the job. Now is the time to put our country before party and give certainty to the people who are trying to get by. There’s work to done. There are workers ready to do it. That’s why I expect Congress to act immediately.” said the President.

Video Link: http://www.c-spanvideo.org/program/ExtensionofTr

http://www.c-spanvideo.org/videoLibrary/assets/swf/CSPANPlayer.swf?pid=301309-1

Stay Alert for Internal Revenue Service Phishing Scams

August 18th, 2011

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Scammers are like cockroaches; they are unwanted, yet they never seem to go away. Recently, there has been a set of IRS phishing emails that have been infesting the web. There have been at least two versions. One claims to be from “info manager@irs.gov” and another from “support manager@irs.gov.” These emails can look convincing with headers that read: “IRS notification.” Although it may seem authoritative, neither of these are legitimate and should be ignored, deleted, or forwarded along to phishing@irs.gov. Do Not reply and Do Not open the attachments.

Here is the plain text version of one of the emails:

Important Information about your tax return

We are unable to process your tax return

We received your tax return. However, we are unable to process the return as field.

Our records indicate that the person identified as the primary taxpayer or spouse on the tax return did not provided all the required documents shown on the tax form. Our records are based on information received from the Social Security Administration.

Based on this information, the tax account for the individual has been locked

What you need to do

Print out the attached notification and list of missing documents, fill it in, add the documents and send the following information to the address shown in the attached notification.

List of required documents:

A copy of this letter
Notification letter
A photocopy of valid U.S. Federal or State Government issued identification.

Keep this notice for your records.

As you can see, this email is littered with typos and grammatical errors. That is always a Huge Red Flag if you are receiving an email that is supposedly from a professional organization. In addition to that, it is commonly known that the IRS does not send unsolicited e-mails to taxpayers. Therefore, most emails claiming to be from the IRS are most likely a scam.

Be very careful with these emails. Most of them try to get you to reveal your personal or financial information. Do not reveal any of this information via e-mail. Better yet, Do Not reply to the email at all. Don’t follow any links from these e-mails to any web sites where you might be asked for the same information.

Other e-mails may have attachments or links which download viruses or other malware onto your computer. Some of this malware, has the capabilities to retrieve financial and other personal information from your computer. Even if you don’t manually input personal information into these sites, the malware allows the scammers to track your personally identifiable information.

Key Point to Remember: the IRS will never initiate contact with you via email. They will not ask you to click links to fix your tax information or verify your tax account. Neither will you be advised of a mistake in your refund via email. If you are concerned that you need to contact the IRS, then you should call them (1.800.829.1040). Don’t click on an attachment or reply to an email claiming to be from the IRS.

So to recap: delete, delete, delete. Do Not open links. Do Not open any attachments. Do Not investigate on your own. The IRS can handle any investigation if necessary. If you would like to make the IRS aware of it, you can forward the e-mail to the IRS at phishing@irs.gov then DELETE the email.

This Information has been provided by the Truck Tax Team at www.ExpressTruckTax.com

Form 2290 Heavy Highway Vehicle Use Tax(HVUT) Now Due On November 30

August 16th, 2011

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The IRS recently advised truckers, owner operators, and trucking companies that their next federal highway use tax return for filing HVUT (which is usually due on August 31) will instead be due on November 30, 2011. The primary reason for the extension of the due date is to reduce confusion and multiple filings of Form 2290 that could result if Congress reinstates or modifies the highway use tax after September 30, 2011.

The Heavy Vehicle Use Tax applies to trucks, truck tractors and buses with a gross taxable weight of 55,000 pounds or more. There are many more specific rules for vehicles with minimal road use, logging or agricultural vehicles, vehicles transferred during the year and those first used on the road after July. In normal circumstances, vans, pick-ups and panel trucks are not taxable because they fall below the 55,000-pound requirement.

The newly determined November 30 filing deadline for Form 2290 (Heavy Highway Vehicle Use Tax Return) applies to the tax period beginning on July 1, 2011. This includes the vehicles used during July, as well as those whose first use month was during August or September. According to the recent IRS statements, returns should not be filed and payments should not be made until November 1, 2011.

For new vehicles that need to be registered during Jul-Oct of 2011, the state DMV’s are required to accept a Stamped Schedule 1 from the previous year since it is not possible to receive a stamped Schedule 1 until November 2011. If a vehicle was acquired within the current year, and there is not a stamped Schedule 1 for the previous year, the owner only needs to provide some form of proof of purchase to prove that the vehicle was recently placed in his/her possession.

Luckily, once the Form 2290 is available, the electronic filing service: ExpressTruckTax.com will be able to E-File the form and send it to the IRS in minutes. The E-Filing Process is very simple; the form can be completed in minutes, and it can be sent to the IRS as soon as it is finished. It is such a time saver when you compare it to waiting in the IRS office for hours or sending it via postal mail and waiting weeks for the IRS to process it.

Current Truck Tax Regulations scheduled to expire on September 30, 2011

August 10th, 2011

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Although passing bills in a timely fashion is not what this current congress is known for, there is another significant piece of legislation that has yet to be voted on. The delay of this legislation being enacted has thrown many people in the trucking industry for a loop.

The transportation law known as SAFETEA-LU – the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users – expired in 2009, but it allowed the taxes associated with the Highway Trust Fund to be collected for an additional two years. When SAFETEA-LU became law in 2005, lawmakers built in what they believed to be enough time to get the next multi-year transportation authorization bill in place.

Those two years have gone by too rapidly and without a new Highway Bill to replace it. House and Senate committees are now drafting preliminary versions of the legislation and continue to debate its details.

Under normal circumstances, tax provisions related to the Highway Trust Fund would be extended as part of the authorization. Unfortunately, no one can accurately predict what will happen in the future, especially with the extreme volatility between parties these days. One thing that is predictable, however, is that ExpressTruckTax.com will keep updating their website and blog with the latest news affecting the Trucking Industry. Once there is more information available about the HVUT filing process, we will let you know.

IRS Interim Regulations for Filing Heavy Vehicle Use Tax(Form 2290)

August 5th, 2011

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For those who are heavily involved in the Trucking and Transportation Industry, it may not be a surprise that this tax year has so far been less than normal as far as Heavy Vehicle Use Tax is concerned.

A Federal Register notice was posted on July 20th, this newly imposed final and temporary regulations by stating that Form 2290 taxpayers should not file before November 1, 2011. The new regulation also added that the IRS will not be providing receipted Schedule 1 forms before the 1st of November.

It is unclear what the future holds for HVUT. Many speculate that there will simply be a delay in the filing season, but the bill has yet to be voted on at this point. If Congress does not change the law, the tax will expire by September 30th, but it seems unlikely that the government would let a tax like this one simply expire. Current regulations have set a tax for July 1, 2011, until Sept. 30, 2011. If Congress neglects to act on this Truck Tax regulation, taxpayers will only be liable for the “short taxable period” (July – September) and would be required to file by Nov. 30. However, if Congress extends the tax past Sept. 30, anyone who files for the “short taxable period” will also be liable for a second Form 2290 for what remains of the 2011-2012 tax year.

For vehicles that need to be registered during Jul-Oct of 2011, the state DMV’s are required to accept a Stamped Schedule 1 from the previous year since it is not possible to receive a stamped Schedule 1 until November 2011. If a vehicle was acquired within the current year, and there is not a stamped Schedule 1 for the previous year, the owner only needs to provide some form of proof of purchase to prove that the vehicle was recently placed in his/her possession.

Luckily, once the Form 2290 is available, ExpressTruckTax.com will be able to E-File the form and send it to the IRS in minutes. The E-Filing Process is very simple; the form can be completed in minutes, and it can be sent to the IRS as soon as it is finished. It is such a time saver when you compare it to waiting in the IRS office for hours or sending it via postal mail and waiting weeks for the IRS to process it.

Federal Highway Use Tax Form 2290 – Credit Vehicles

July 27th, 2011

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In certain situations, one can actually claim a credit for a vehicle using the IRS Form 2290 (Heavy Vehicle Use Tax). The simplest, quickest, and safest way to file this form is through ExpressTruckTax.com, an authorized IRS E-file Provider of this form.

If a heavy vehicle was stolen, destroyed, or sold before June 1st and not used during the rest of the year, it qualifies as a credit vehicle. Another qualification for Credit Vehicles is if a heavy vehicle was used for 5,000 miles or less, or an agricultural vehicle that was used for 7,500 miles or less. Another significant qualification is that a credit, lower tax rate, exemption, or refund is not allowed for an occasional light or decreased load; neither is it allowed for a discontinued or changed use of the vehicle.

Even though the qualifications for credit vehicles can be complicated and confusing, ExpressTruckTax.com helps make this process simple. The filing process only takes a few minutes. If you need any help, the dedicated customer support team can help walk you through the process in minutes.

IRS 2290 Update for Tax Year 2011 – 2012

July 22nd, 2011

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On Monday, July 18, the IRS announced that the 2290 filing deadline for the 2011-2012 tax period would be extended by 90 days. All 2290 forms, which are usually due on August 31, will instead be due on November 30. The extension is designed to alleviate any confusion that may be caused by changes in the HVUT tax laws, which are currently set to expire on September 30, 2011.

In order to assist heavy vehicle owners with state vehicle registration, the IRS submitted new regulations requiring all states to accept the 2010-2011 proof of HVUT payment (schedule 1) for registration purposes during the months of July through November. The regulations also extend the grace period during which a newly acquired vehicle can be registered by the state without a 2290. Any heavy vehicle acquired on or after July 1 may be registered without proof of HVUT payment within 150 days of purchase. You will need to provide the state with documentation showing the purchase occurred within this grace period.

The IRS has tentatively announced that they will begin accepting 2290 returns and 2290 payments for the 2011-2012 tax period beginning November 1. ExpressTruckTax will send email notifications to all our registered users as soon as the IRS begins accepting 2011 electronic returns.

ExpressTruckTax Advanced Filing

For our users that have taken advantage of our Advanced Filing and have already prepared your 2011-2012 return, your completed 2290 will remain in our secure database – ready to be filed. Once the IRS begins to accept 2290 filings, ExpressTruckTax will automatically transmit your tax return to the IRS. If you need to edit or update your prepared 2290 at any time prior to November 1, you may do so simply by logging into your ExpressTruckTax account and editing your 2011 return. Please note, no tax payment will be processed by the IRS for the 2011-2012 tax period until the IRS begins accepting 2290 returns in November.

For those users that have not yet prepared your 2290 return for the 2011-2012 tax period, you may do so now using our Advanced Filing product. This will allow you to complete your 2290 return in advance, ensuring that you and your company are well prepared once the 2011-2012 filing season begins.

Please do not hesitate to contact our support center if you have any questions or if we may be of additional service. You can reach us by phone at (704)234-6005, Monday through Friday – 9 am to 6 pm (EST) or by email, 24 hours a day, at support@expresstrucktax.com. For more details regarding the 90-day extension, you may view the official announcement on the IRS Newsroom website. Thank you for using ExpressTruckTax, where IRS 2290 and IFTA are made easy!

If have problems registering your vehicles with the state, please provide this IRS communication to them.

IRS Communication:http://www.expresstrucktax.com/docs/temp%20reg%20form%202290%20internal%20external%20communique%20final.pdf

Internal Revenue Service Form 2290 Section Overview

July 13th, 2011

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First Use Month
The First Use Month refers to the month that the vehicle was first used during the tax period. If the vehicle will be used for the entire Tax Period, then July would be the appropriate month to select.

Taxable Vehicles
On The Taxable Vehicles section, you can enter all of your taxable motor vehicles weighing 55,000 lbs or more. Do Not Add vehicles that you expect to use less than 5,000 miles during the tax period (or 7,500 miles, If Agricultural Use). These Vehicles are known as low mileage, tax suspended, or category W vehicles; and they can be added in another section.

Suspended Vehicles
Tax Suspended Vehicles, also known as low mileage or category W vehicles are not subject to taxation because these vehicles will remain below the mileage threshold of 5,000 miles during the tax period (or 7,500 miles, if Agricultural use).

Prior Year Suspended Vehicles
If You Reported any vehicles as Tax Suspended or category W during the previous tax period, you must report these vehicles to the IRS if either of the following occurred:
A: The Vehicle exceeded the mileage threshold
or
B: The vehicle was Sold
Do Not add a suspended vehicle if neither of these occurred

Sold, Destroyed, or Stolen Vehicles
If you Sold a taxable vehicle, or that vehicle was destroyed or stolen before June 1st, you are eligible for a pro-rated credit or refund.

Low Mileage Credits
If you paid Heavy Vehicle Use Taxes, but did not exceed the mileage threshold during a prior tax period, you are eligible for a credit or refund of the Heavy Vehicle Use Taxes paid during that period. Enter all applicable vehicles in this section.

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Archive

The IRS Reminds Truckers They Have Extra Time

Transportation Bill clears Senate committee

President Barack Obama Pushes for the Renewal of Transportation Bills

Stay Alert for Internal Revenue Service Phishing Scams

Form 2290 Heavy Highway Vehicle Use Tax(HVUT) Now Due On November 30

Current Truck Tax Regulations scheduled to expire on September 30, 2011

IRS Interim Regulations for Filing Heavy Vehicle Use Tax(Form 2290)

Federal Highway Use Tax Form 2290 – Credit Vehicles

IRS 2290 Update for Tax Year 2011 – 2012

Internal Revenue Service Form 2290 Section Overview

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