Archive

Archive for the ‘form 2290 Schedule1’ Category

Filing IRS HVUT Form 2290 with ExpressTruckTax

May 12th, 2012
Comments Off

Filing Form 2290 online is very simple through ExpressTruckTax.com – An IRS Authorized E-File provider. All that is needed is basic informationE-file IRS Form 2290 for just $9.90 for a Truck with Expresstrucktax.com about the vehicle such as its first use month, taxable gross weight, and VIN. All taxable highway motor vehicles must file this form.

You may be asking yourself, what does the IRS consider to be a taxable highway motor vehicle? Well, the IRS considers Highway Motor Vehicles to be taxable if it is a self-propelled vehicle that is designed to transport a load over public highways. Such vehicles may include trucks, truck tractors, and even buses. The IRS does not usually consider vehicles like vans, pickup trucks, panel trucks, or other similar vehicles because they typically weigh less than 55,000 pounds.

The HVUT rates for these vehicles are broken down into 3 categories. Vehicles that are less than 55,000 pounds do not have HVUT because they do not qualify as a heavy vehicle. Vehicles between 55,000 and 75,000 pounds owe $100, plus $22 per 1,000 pounds over 55,000 pounds. And last but not least, for vehicles that weigh over 75,000 pounds the maximum HVUT is $550 annually.

www.ExpressTruckTax.com allows you to fill out your IRS Form 2290 online and send it to the IRS electronically! This way you can get a stamped schedule 1 in about 10 minutes. Express Truck Tax is authorized by the IRS to E-File Form 2290. The taxpayer will then receive the schedule 1 via email or fax as soon as the IRS processes the form. The form will then be watermarked by the IRS instead of an actual physical stamp. Be sure to get this taken care of soon because the due date for all vehicles.

IRS Form 2290 – Heavy Vehicle Use Taxes

November 16th, 2011

What is HVUT?
HVUT or Heavy Vehicle Use Tax is the fee imposed by the IRS annually on heavy vehicles that operate on public highways at registered gross weights equal to or exceeding 55,000 pounds.

The taxable gross weight of a vehicle is determined by adding the following:
• The actual unloaded weight of the vehicle, when it is fully equipped for service
• The actual unloaded weight of any trailers or semitrailers fully equipped for service normally used in addition to the vehicle
• The weight of the maximum load that can be carried on the vehicle and on any trailers or semitrailers typically used with the vehicle
• For Buses, The taxable gross weight is its actual unloaded weight fully equipped for service in addition to 150 pounds for each seat provided for passengers and driver.

The Tax Calculations:
The tax year for Form 2290 starts in July and ends in June of the next year. If the gross taxable weight is from 55,000 to 75,000 pounds, the HVUT is $100, plus $22 per thousand pounds over 55,000 pounds. For over 75,000 pound vehicles, the maximum HVUT is $550/ year. The taxes are lower for logging vehicles. Logging Vehicles are vehicles which are primarily used for transporting products harvested from the forest and is registered with a state agency as such.

Taxes are prorated for any vehicles placed into service after the month of July.

HVUT Exemptions:
There are a number of groups that receive exemptions from HVUT. Such as:
• Federal Government
• Indian tribal governments (for vehicles used in essential tribal functions)
• State & Local governments, including the District of Columbia
• Mass transportation authorities
• The American Red Cross
• Nonprofit volunteer fire departments, ambulance associations or rescue squads

There are also a number of vehicles exempted from the HVUT:
• Any vehicle not considered to be a highway motor vehicle — e.g., mobile machinery for non-transportation functions, vehicles specifically designed for off-highway use, and non-transportation trailers and semi-trailers
• Qualified blood collecting vehicles used by qualified blood collector organizations
• Mobile machinery that is used for non-transportation purposes

Exempt carriers may be required to file tax forms with the IRS or notify the local department of motor vehicles (DMV) of their exempt status

there are other vehicles that are exempt based on the number of miles it is driven:
• Commercial Vehicles traveling less than 5,000 miles annually
• Agriculture Vehicles traveling less than 7,500 miles annually

The above vehicles are called Suspended Vehicles, but must be reported to the IRS.

What is the Purpose of HVUT?
The HVUT is a significant source of transportation funding in the U.S. In 2006 alone, the HVUT generated more than $1.4 Billion in Federal Highway Trust Fund (HTF) revenue.

The Federal HTF protects America’s investment in its transportation infrastructure. In 2007 alone, Federal HTF receipts were $39.9 Billion, with $34.9 Billion dedicated to the HTF’s Highway Account. The Federal HTF finances a wide spectrum of transportation investments which include:
• Highway improvements (e.g., land acquisition, other right-of-way costs, preliminary and construction engineering, construction and reconstruction, resurfacing and restoration costs of roadways and bridges)
• Highway and bridge maintenance
• Highway law enforcement
• Safety programs (e.g., driver education and training, vehicle inspection programs, enforcement of vehicle size and weight limits)
• Congestion relief projects
• Administrative costs (e.g., research, engineering)
Investment in our nation’s highway infrastructure helps:
• Save money, time, & lives
• Reduce the amount and severity of crashes for all kinds of vehicles
• Enhance the ability of emergency responders
• Lower fuel and insurance costs
• Decrease energy consumption
• Ease congestion
• Boost air quality
• Increase mobility
• Improve the efficiency of the movement of goods
• Raise business productivity
• Strengthen the nation’s economic productivity

Since the vast majority of all funds contributed by states to the Federal HTF are returned through highway improvements, this is a direct incentive for state agencies to take necessary measures to enhance HVUT compliance.

A Record Number of IRS form 2290 Filings with Express Truck Tax

November 14th, 2011

On November 1, 2011 the IRS began accepting E-Filing of the IRS Form 2290 for the 2011 – 2012 Tax Period. Since then, there has been a record amount of E-Filing of the Form 2290 through ExpressTruckTax.com. Due to a delay in the filing process, the Form 2290 is due by November 30 for each vehicle that has a First Use Month of July, August, September, or October of this year. Due to this short filing season, it is especially beneficial to E-File this Tax Return online.

Thousands have already used ExpressTruckTax.com to file this form for filing Heavy Vehicle Use Taxes. HVUT is an annual tax which is imposed on heavy vehicles weighing 55,000 pounds or more that operate on public roads. The funds from this tax help fund highway projects.

Some of the benefits to filing a HVUT return with Express Truck Tax include the following:

File with ExpressTruckTax and receive:
• The Best Value in the Industry
• Account setup and full service support for free
• Free VIN Corrections
• Receive Stamped Schedule 1 back in Minutes
• Automatic notification to your trucking/leasing company

Award Winning US-based Customer Support:
• Based in Rock Hill, South Carolina
• Personal account manager for your business
• Live phone, email, and chat support
• Help text and videos throughout the application
• Tax Professionals and IT Experts ready to help at a moment’s notice
• File online or over the phone
• 98% customer approval rating
• Trusted by many of the largest carriers and service providers in North America

A State-of-the-Art Application:
• Most features available
• Receive Email, Fax, and FTP copies of your Schedule 1
• Bulk upload taxable, suspended, and credit vehicles
• Automatically generate refund or credit applications (Form 8849)
• Maintain unlimited businesses and unlimited vehicles with a single login

Don’t waste any more time! Get your Form 2290 Filed today and join the thousands of others who have received their Schedule 1 in minutes! HVUT is due on November 30. You can always contact Express Truck Tax for any Truck Tax questions!

E-filing Excise Taxes Now Available For Heavy Highway Vehicles

November 3rd, 2011

Although it has been a long year for those in the Trucking and Transportation Industry, It is now possible to transmit returns to the IRS through Express Truck Tax. The process for filing Heavy Vehicle Use Tax Returns was briefly interrupted as the legislation that controlled the tax itself nearly expired. Fortunately, due to urges from various congressmen and President Obama himself, the legislation was extended. Had Congress let the legislation expire, there would have been a shutdown of any government funded Transportation jobs. Although many industry experts agree that new legislation is needed, this extension serves as a quick fix the much worse possibility of all government transportation projects being shut down.

This change resulted in a later filing period for 2011 – 2012. Instead of filing by the month of August, the filing period for the 2011-2012 tax period begins on November 1st and ends on November 30th 2011. The IRS did not even begin accepting these forms until November 1st. With a much shorter filing period, those needing to file a Form 2290 will greatly benefit from eFiling this return. The IRS has been steadily pushing people to eFile since last year. The IRS is no longer sending paper forms to those needing to file. They even admit that the eFiling process is easier for them and saves the government money as opposed to paper filing.

The Form 2290 is incredibly easy to eFile with Express Truck Tax. The whole process can be completed in a matter of minutes. Once the 2290 Form has been submitted to the IRS, a Stamped Schedule 1 will be sent from the IRS directly to the taxpayer through Express Truck Tax. The form will arrive as a pdf attachment in an email.

To fill out the Form 2290 online, all you will need is the basic business information such as the EIN, VIN, and the vehicle weight. The IRS accepts several different payment options including: Electronic Funds Withdrawal, EFTPS (Electronic Federal Tax Payment System), and also check or money order. Each of these options is fairly simple. Electronic Funds Withdrawal is a very quick and immediate process, just provide your bank account number as well as your routing number, and the IRS will electronically withdraw the payment.

Express Truck Tax offers a very User-Friendly process. Instead of using a tax form that is loaded with confusing tax jargon, The Express Truck Tax system uses a series of basic questions that are simple and straightforward so that you can finish it in as little time as possible. Even if you have questions regarding the Form 2290, you can always call the dedicated Truck Tax Experts at their USA based customer support center in Rock Hill, SC at 704.234.6005 or email them at support@ExpressTruckTax.com

Send a IRS Form 2290 Schedule 1 to Your Trucking or Leasing Company

October 21st, 2011

Many owner operators and independent contractors are required to give their leasing or contracting company a copy of their 2290 schedule 1. ExpressTruckTax can help.

On the Proof of Payment Notifcation page, you can select to send your Schedule 1 to any contract or leasing company automatically as soon as your schedule 1 is received from the IRS.

Simply check the box labeled “Send proof of payment to contracting leasing company and enter the requested contact information. As soon as your 2290 has been processed, Express Truck Tax will email and/or fax a copy to the company.

IRS Stamped Schedule 1 Form 2290

September 9th, 2011
An IRS Form 2290 is not complete unless the Schedule 1 has officially been stamped by the Internal Revenue Service. The Form 2290 handles Heavy Vehicle Use Taxes, and the Schedule 1 is part of the IRS Form. To ensure that this is handled properly so that any Heavy Vehicle Use Taxes are reported and paid, there are several options. This form can be mailed, taken to the IRS directly, or the most efficient method: e-filing.  

Although there is not a way to e-file this tax through the IRS website, the IRS has authorized Express Truck Tax to file this return because they have passed the IRS Assurance Testing System (ATS) and/or Business Acceptance Testing (BATS) requirements for Software Developers of electronic business returns to the IRS.  

If you choose to mail the form to the IRS, it can take weeks for the IRS to respond with the official Stamped Schedule 1 in the mail. Because particularly if it is a busy time for the IRS. This is precious time that should not be wasted because the Stamped Schedule 1 is required in order to register the vehicle with the state DMV.

If you choose to actually deliver the form to the IRS office, you will be forced to wait in line for a representative to review the form and then stamp the Schedule 1. With this option, you are at the mercy of the IRS. The nearest office could be many miles away, and once you are there is no way to know how long it could take. People have reported that on a busy day at the IRS office, you may have to wait in line for as long as 6 hours.  

For these reasons it is easiest to use an online e-filing tool such as Express Truck Tax for your 2290 filing needs. Since it is authorized by the IRS for e-filing, that shows it is a trustworthy and reliable service.  Another benefit to using this particular service is that they have a team of Truck Tax experts that can take calls, emails, and online chats regarding any Truck Tax question you may have. For more information on the 2290 filing process, heavy vehicle use tax, IRS payment methods, etc 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 and the experts will respond within 24 hours.

President Barack Obama Pushes for the Renewal of Transportation Bills

September 6th, 2011
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

File IRS Form 2290 through an IRS-Authorized Service Provider

August 26th, 2011
If you are a trucker, owner operator, or trucking company, you are subject to filing a tax return for the Heavy Vehicle Use Tax. These taxes have typically been filed with the IRS Form 2290. Until recently, this form could only be filed by paper. However, there have been great advances in technology over the past few years and the IRS now accepts and encourages taxpayers to E-File their 2290 Form.

The IRS has approved several third party service providers to E-File the Form 2290 on behalf of those taxpayers who need to file. This list is posted on the IRS website. The IRS itself does not provide a way to E-File this form through their website. In deciding how to file, there are a few things that should be considered. When you select a provider, it is important to be sure that they are an Authorized IRS E-File Provider, make sure that they can handle all of your truck tax needs, and it is safest to find a provider that is entirely web-based.
  • When selecting an Authorized E-File Provider, you should look on their website for something to verify that they are actually authorized by the IRS to E-File tax forms. Again, you can also refer to the IRS Website for a complete list of Authorized E-File Providers.  Be sure that the provider you choose is on that list!
  • If you need to file several types of Truck Taxes and not only the Form 2290, like IFTA or Form 8849 then it would be helpful to have them all filed from the same place. Some service providers are only for Form 2290, or Form 8849, etc. The most convenient and economical way of filing would be to have them all filed with the same service.
  • If an E-Filing system is not web-based, then there is less reason to use it. If a so-called E-Filing system is not web-based, meaning you need to download a program onto your computer in order to run the program, then it is not a true E-Filing system. The IRS recommends E-Filing because of its speed and security. If you are required to download lots of files and store information on your computer, your system is not completely web based. The benefits of a web-based system are obviously the speed of transfer to the IRS when you are finished, but also the security of storing your information online instead of on your computer. If you rely on your computer to store your information, you run the risk of losing all of your information if your computer crashed or if you spill something on it, etc.

ExpressTruckTax.com fits all of these qualifications for a Truck Tax E-File Provider. It is entirely web-based, they are a one-stop-shop for all truck tax needs, and they are authorized by the IRS as an E-File provider on the official list from their website. If you need any help, you can also contact their wonderful customer support team!  They offer live chat & phone support Monday through Friday (9:00am – 6:00pm EST) at 704.234.6005, as well as email support 24/7 (support@expresstrucktax.com). This way you can get a stamped schedule 1 in about 10 minutes. The file is electronically submitted to the IRS, and within minutes the file will be processed by the IRS and the filer will receive a notification from Express Truck Tax that their return has been processed.

How to E-File IRS Form 2290(HVUT) and receive a stamped Schedule 1?

August 4th, 2011
The Process of Filing IRS Form 2290 and getting a stamped Schedule 1 can be rather complicated. Especially now that the IRS has delayed the filing dates to November of 2011.

A Stamped Schedule 1 is required in order to register a vehicle. So it can be very stressful to wait until the last minute to register your vehicle because you are waiting for the IRS to send you a stamped schedule 1. (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)

Although these are the traditional ways of getting a Stamped Schedule 1, an easier way has come about in the past few years. E-Filing has become more and more practical as well as more efficient. An IRS-Authorized provider of this service is www.ExpressTruckTax.com.  Instead of waiting for hours or up to 6 weeks for the IRS to stamp your schedule 1, Express Truck Tax will get your stamped Schedule 1 in minutes. When you log on to the site, you can enter the information for the Form 2290, and Express Truck Tax will then automatically create a Schedule 1 based on that information. That form will be sent to the IRS electronically, and they will then send the stamped Schedule 1 back to Express Truck Tax, who will then automatically send an email notification of the file to the taxpayer. This document can also be faxed as well as emailed to the taxpayer as soon as the IRS processes the form. There are even options to receive a notification via text message. The form will be transmitted with a watermark as well as an IRS E-File logo since the document will not be physically stamped.

HVUT(U.S Federal Heavy Vehicle Use Tax Form 2290) Season Delayed by IRS

July 14th, 2011
As you most likely know, the IRS has not yet disclosed the official Form 2290 for filing Truck Taxes.  This delay in the process has certainly caused some headaches for the service providers such as Express Truck Tax, who E-File this form on behalf of their clients.  Land Line, the business magazine for professional truckers, recently released an article about the delay.   In short, the Form 2290 will not be available until new legislation is passed, but drivers will be able to get their vehicle tags and register vehicles by using your previous year’s Schedule 1.

The following Article can be read in its entirety at LandLineMag.com:

Before you make a mad dash to the IRS office to file your Form 2290 Heavy Vehicle Use Tax, hold on. A week before filing season for the IRS Form 2290 was due to begin on July 1, the Internal Revenue Service announced a delay.

New legislation needs to be passed before IRS can collect the HVUT for the entire year. And right now that tax legislation is tied up in Congress. This means that your normal filing, which was for the tax period beginning July 1, 2011, won’t happen.

IRS will not accept any paper format or e-filing at this time. In fact, the form has not been published by the IRS and is not even available yet. An announcement on when it will be in place is expected to be made by IRS.

While the IRS e-file is not available for the tax period beginning July 1, 2011, you can still e-file your 2290 tax return for the tax period July 1, 2010 through June 30, 2011.

The IRS may wait as long as possible so that a single tax return is all that will be necessary for the 2011-12 tax Year. However, a backup plan is in place so that a three-month tax (July, August and September) can be collected by the Aug. 31 filing deadline. When the new legislation is passed, it will determine what happens for the reminder of the 2011/12 tax year.

Can you get your tags and register your vehicle? The IRS says yes, you can get your tags for the tax period beginning July 1, 2011. Existing regs allow states to register a heavy highway vehicle when the application for registration is received during the months of July, August or September 2011. If you have your receipted Schedule 1 for the previous year’s taxable period – in this case July 1, 2010 through June 30, 2011 – states can accept it as proof of payment.

States must register newly acquired heavy highway use vehicles without proof of tax payment if you present the original or photocopy of a bill of sale showing that the truck was purchased by the owner during the 60 days before the date the state receives the application for registration.
Express Extension