ExpressTruckTax Blog

Showing posts with label Easy file. Show all posts
Showing posts with label Easy file. Show all posts

Thursday, July 21, 2011

Tips and Tricks for Owner-Operators(U.S Federal Heavy Vehicle Highway Use Tax)

One of the most challenging jobs in this country is also one of the most vital to our nation’s economy. The job I am referring to is that of Heavy Vehicle Owner Operators.  The job of an owner operator is not only physically strenuous, it can also be confusing and stressful due to the various taxes that owner operators must file each year for their heavy vehicles.  These taxes include Heavy Vehicle Use Tax (HVUT) which includes the IRS Form 2290 as well as IRS Form 8849. Another tax that affects the trucking industry is the International Fuel Tax Agreement (IFTA).  

The IRS Form 2290 has its own set of detailed instructions. Form 2290 is in 2 sections.The first part, the Schedule 1, must be completed and stamped by the IRS in order for the vehicle to be registered with the Department of Motor vehicles. The traditional way to obtain this stamp from the IRS can be filed one of two ways. The form can be sent to the IRS office via postal mail and then wait for the stamped form to be sent in the mail, which can take several weeks. The other option is to file at the nearest IRS office and get it stamped in person. This is also a very time consuming option that often includes waiting in line for a long period of time..

The process for filing IFTA (International Fuel Tax Agreement) can also be very confusing. Each driver must keep detailed trip notes for the number of miles that were traveled, and also how much fuel was purchased in each state or province. The reason for keeping these records is so that the Fuel Tax (IFTA) is accurately distributed to all of the states and provinces that were involved.  For Example, If a driver drove through a state on it’s public highways, but did not purchase any fuel in that state, then that state did not receive any taxes from that driver.  The Fuel Tax would redistribute the taxes so that certain states would not be neglected if they were used.

Fortunately, these confusing processes have been made easier, simpler, and safer. serves as a one-stop-shop for all truck tax needs!  Express Truck Tax allows drivers to E-File a completed Form 2290 online with the IRS and receive a stamped Schedule 1 in minutes.  (The stamp is actually a watermark, not a physical stamp. State DMV’s will accept this as proof) The IFTA process is also much easier thanks to the online tools that Express Truck Tax has to offer. With features like online trip sheets and abnormal MPG audits, Express Truck Tax has what it takes to get you back on the road with as little paperwork as possible.
Read More »

Wednesday, July 20, 2011

Temporary regulations for Internal Revenue Service Form 2290

Waiting for the IRS to release the Form 2290 for HVUT for the new tax year will likely take quite a while. According to a Federal Register notice set to be published on Wednesday, July 20th, implementing new regulations states that taxpayers filing Form 2290 should not file before November 1, 2011. In addition to that, the IRS will not be releasing receipted Schedule 1 forms prior to Nov. 1st. The current HVUT system is currently up in the air. Without a law passed from Congress, the tax will expire by Sept. 30, 2011.

Under current regulations, a tax is in place for the period between July 1, 2011, through Sept. 30, 2011. If Congress remains inactive on the matter, taxpayers will merely be liable for that taxable period and would have to file by Nov. 30.

In the Federal Register, the IRS does state that if Congress extends the tax past Sept. 30, anyone who filed for the “short taxable period” would also be required to file a second Form 2290 for the rest of the 2011-2012 tax season.

Amid all of this confusion and what seems to be a chaotic situation for many in the Trucking Industry, you can take comfort that you will be able to Electronically file any HVUT taxes imposed by the IRS with our service. Although we do not know what that will entail right now, we will be able to adjust our product to the changing requirements by the IRS (if needed).
Read More »

ExpressTruckTax Blog

E-file your HVUT Form 2290 with ExpressTruckTax.