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Showing posts with label Dot Form 2290. Show all posts
Showing posts with label Dot Form 2290. Show all posts

Tuesday, August 9, 2011

Hidden Benefits of E-filing Federal Heavy Vehicle Use Tax Form 2290

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While there are many obvious benefits to electronically file the IRS Form 2290 with ExpressTruckTax.com, there are also several that you may not initially recognize. The more obvious benefits to filing Truck Taxes with Express Truck Tax include a quicker filing process, more affordable pricing than other E-File providers, and a customer support team that can walk you through the process. But what you may not also realize is that it is also beneficial to the environment due to the lack of wasted paper; it also cuts down on our government’s spending because electronic returns are much easier for the IRS to process.

Not only does our excessive use of paper deplete our planet’s precious supply of natural resources, the harsh chemicals used to process, bleach, and create the paper that we use everyday is also causing damage. A simple way to help cut down on our heavy use of paper in our offices and homes is to utilize electronic forms when possible. It is also more secure to file documents electronically. With electronic transfers, your private information is sent directly to the person who should be receiving it, and there is no risk of getting lost in the mail or being sent to the wrong person.

Another benefit of E-filing tax returns with the IRS that may not be so obvious is that it costs much less for the IRS to process a return that has been E-Filed. With this country’s rising debt crisis, this is a small step that you can take to help reduce government redundancies, and keep the cost of running this government low.  

If these reasons alone are not enough to convince you to E-File, then feel free to call us at (704)234-6005. Our dedicated team of customer support professionals would love to talk to you in more detail about the filing process for IRS Form 2290, 8849, HVUT, and more. You could also send an email with any questions to support@expresstrucktax.com.  
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Thursday, August 4, 2011

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

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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.
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Monday, August 1, 2011

Why you need to file IRS Form 2290(Federal Heavy Vehicle Use Tax Return)

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To file your HVUT with the IRS using Form 2290, it is very important that you keep accurate records, just like you would when filing any other type of tax return. It is crucial for anyone filing form 2290 to maintain their records for at least the prior 3 years for any taxable highway vehicles registered to them. For fleet owners and small trucking companies who have filed form 2290 in the past, it is wise to always keep the 2290 records on hand, as one never knows when IRS inspection may take place. It is even important to save these returns if they are only for a part of a year. In the case of a suspended vehicle (public highway use was less than 5,000 miles/year) it is still necessary to keep records of Form 2290’s filed for them as well.

You will need to gather the following information before filing form 2290 to accelerate the filing process.  You will need a description of all vehicles for which you are filing as well as a VIN (Vehicle Identification Number) for each one. You will also need to know the gross taxable weight of the vehicle.  It is also necessary to report the date the vehicle was acquired, as well as the name and address of the previous owner. The fist use month for the taxable period is also required for reporting. If a vehicle is considered to be suspended, keep a record of actual highway mileage. If the vehicle is an agricultural vehicle, then keep accurate records of the number of miles it is driven on a farm or field.

Keeping proper records of your 2290 information will be a great help to you in the unfortunate event of an audit.  It will also make the task of filing this form much easier.   

ExpressTruckTax.com is an IRS authorized E-File provider who can help you file form 2290 as well as keep secure online records of previously filed form 2290’s. 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.
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Friday, July 15, 2011

EIN(Employer Identification Number) Update for Federal Tax Forms 2290 & 8849

If you are filing for either IRS Form 2290 or Form 8849, you will benefit from this new information regarding Heavy Vehicle Use Tax. The IRS will now be checking EIN (Employer Identification Number) verifications in a much more thorough way than they have in previous years. In the past, the IRS was more lenient on the EIN verifications.  As of now, the IRS requires that all EIN’s be at least two weeks old in order to file with them. Thus, if you have recently applied for an EIN over the past few days, it would be best to wait at least two weeks before filing your Form 2290 or 8849.

This information will be most useful for individual Owner-Operators, as well as Service Providers that file truck taxes for various Owner-Operators. If you need to apply for an EIN, you can contact the IRS via phone or online through the IRS website.
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Thursday, July 14, 2011

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

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.
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Monday, July 11, 2011

Heavy Vehicle Use Tax(Internal Revenue Service Form 2290)

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HVUT refers to the Heavy Vehicle Use Tax, which is a fee imposed on heavy highway vehicles operating on public roads.  A vehicle is required to file HVUT, if it has a registered gross weight of 55,000 pounds or more.  This amount is the gross taxable weight, which is calculated by adding the following amounts:
The official definition, according to the IRS,of a taxable Highway Motor Vehicle is any self-propelled vehicle that is designed to carry a load over public highways.  Examples of such vehicles include trucks, truck tractors, and buses.  The IRS does not usually consider vehicles such as vans, pickup trucks, panel trucks, or other similar vehicles because they do not typically weigh 55,000 pounds or more.  

HVUT rates are broken down into three categories for these vehicles.  Vehicles under 55,000 pounds have no HVUT because they do not fit the qualifications of a heavy vehicle.  Vehicles between 55,000 and 75,000 pounds owe $100, plus $22 per 1,000 pounds over 55,000 pounds.  Thirdly, if a vehicle is over 75,000 pounds, the maximum HVUT is $550 per year.
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ExpressTruckTax Blog

E-file your HVUT Form 2290 with ExpressTruckTax.