If you were to ask anyone who has been involved in the Trucking industry for a few years or more, they will be the first to tell you that there are many more business and economic responsibilities for truckers and Owner Operators besides simply getting something delivered at the right time and place. Heavy Vehicle Use Tax, or HVUT, is one of the most common taxes that the IRS imposes on heavy highway vehicles in the United States. Paying this tax properly involves filing the IRS Form 2290. This Form is so easy to E-File online, and thanks to Express Truck Tax, there is no reason to be late, as evidenced by the following points:

• Not filing or not paying is a felony
Fines are bad enough, but it could be worse. Going to court can lead to criminal charges. The IRS & state governments could prosecute anyone who purposely cheats to avoid paying the IRS form 2290. It can also lead to time in prison.
• IRS Penalties
Unless you enjoy IRS Audits and spending time in courtrooms, it is a terrible to not pay your taxes. The IRS can add all kinds of interest and penalties, but if you end up in court over the matter it will lead to the court costs as well as heavy fines.
• Paying Taxes help improve Roads
Paying taxes is never a joyful experience, but you should get some gratification in the fact that much of the taxes paid for HVUT go back into the cost of roads and highway expenses. It just makes sense; if you enjoy using something, you shouldn’t mind paying for it.
• Stay focused on your Trucking business
If these are not paid in a timely manner, the previously mentioned fines, court appearances, and possible jail time could seriously put a halt on your business. The time and energy spent worrying about IRS Audits, Fines, and Court Dates is not worth it. Especially when the taxes are not typically very high.
• It’s So Easy to e-file form 2290
With Express Truck Tax, their team of Truck Tax experts will guide you through the process. All you need to do is login to www.ExpressTruckTax.com and start entering the vehicles that you need to file for. If there are any questions, you can call them at 704.234.6005 or send an email to support@ExpressTrucktax.com.

When you E-file IRS form 2290 with expresstrucktax.com there is no reason that it would not be on time as long as you submit it before the deadline. This year it is even more important to be sure to file on time because the Form 2290 must be filed within the month of November. With this close time frame, it is best to E-File instead of risking it getting lost in the mail. It’s made as easy as 1-2-3 to e-file truck tax with Form 2290 and get IRS stamped Schedule 1 in few minutes. Avoid IRS penalties and Audits by keeping your 2290 records with express truck tax. E-file IRS 2290 VIN Corrections for free of cost.

Featured Blogger Benjamin Bellville

Today I would like to point out some key things to look for in the setup process with freight brokers. This of course being when you will have to fill out an information packet and fax it back to a broker before they will allow you to haul their freight. I’m going to talk about the type of information you will receive from them and it’s relevance, the information and forms you will need to send back to them and the little things you should look for in the packet that if not followed correctly may cost you a bundle.

What type of info will a freight broker include about themselves?

With every freight broker setup packet you will receive many pages of information about that broker. These are not pages that you need to send back, but they are pages that you should save and staple together with the finished packet after you have faxed back what was required. This information at a minimum will include the following:

   1. All of the freight brokers contact information.
   2. Their freight brokers authority page (MC#)
   3. Their Insurance carrier information.
   4. The brokers surety bond.
   5. A reference page. (showing companies they have brokered freight to)

This is all information that you could find out just by knowing their MC#, but it’s just easier to have it on hand should they decide to stiff you on a payment and you need to make a claim against them.

What type of info will they require from me?

This is going to depend on the freight broker you are dealing with,some have very short packets (you will be thankful when you get that lucky!) and some will expect you to fill out an encyclopedia worth of what is sometimes pointless it would seem. following are the main things you will be asked to return every time guaranteed.

   1. A copy of your authority (MC#)
   2. Copy of your insurance.
   3. A current W-9.
   4. A carrier profile page.
   5. The contract with each page initialed and dated as well as properly signed.

For this reason it would be a great idea to have copies of the first 3 on your computer easily accessible if you are using an email fax server. After you have seen a few carrier profile pages it would also be a good idea to make one of your own as every now and then you will come across a broker who wants one, but fails to send you a form.

Things to look for in the setup process with freight brokers!

Some of this information will also be included in fine print on the load rate confirmation, which is the actual contract that a freight broker and trucking company enter into on a load by load basis. What you want to watch for is their policies that need to be followed that in many cases if not followed will garner a fine for your company. These may include the following stipulations:

   1. Fines for not being on time to a pickup or delivery.
   2. Fines for being reported as being uncooperative with their customers.
   3. Fines for damaged freight.
   4. Fines for not contacting them with load movement updates on their schedule.
   5. Payment information pertaining to what they will or won’t cover for things such as tolls, lumper fees,detention and layover.

Once you get the hang of the things to look for it’s best to just ask the broker any questions you may have about these things before you have them fax you a setup pack. Their will be some brokers who are too demanding and who are sticklers for all fines they say may be levied against you regardless of the circumstances. It’s a learning process every time you do business with a new broker, but if you pay attention to details you should have no problem at all.

Now that you’ve learned all about the setup process with freight brokers go on over and check out how easy the folks here at Express 2290 can make filing for your Heavy Vehicle Use Taxes which are required to be paid and proof shown before you can get your I.R.P.

A 2290 can be filed with the IRS at any time after the deadline has passed but the tax due may be subject to penalties and interest. The penalties for filing late will not be imposed if you can show reasonable cause for not filing on time.

The penalty for failing to file IRS Form 2290 in a timely manner is equal to 4.5 percent of the total tax due, assessed on a monthly basis up to five months. Late filers not making an HVUT payment also face an additional monthly penalty equal to 0.5 percent of total tax due. Additional interest charges of 0.54 percent per month accrue as well.

As you can see, the penalties for failing to file can add up quickly. HVUT for an 80,000 lbs vehicle would typically cost about $550. However, for every month that passes without filing, penalties and interest add more than $30 to the total tax due. If you fail to file for 5 months, the total HVUT tax due to the IRS for that vehicle would be more than $700.

Additionally, many states won’t permit the vehicle to be registered without proof of payment for the HVUT. Needless to say, it’s important to file your Form 2290 on time!

If you would like more information about heavy vehicle use taxes and penalties and interest, please visit the IRS or DOT websites.