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Showing posts with label Express2290. Show all posts
Showing posts with label Express2290. Show all posts

Tuesday, September 13, 2011

Filing HVUT with Form 2290 in 2011

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As anyone in the Transportation Industry will already know, the filing process for Heavy Vehicle Use Taxes (HVUT) will be a little bit different than normal this year. The Schedule 1 of the Federal Heavy Vehicle Use Tax (HVUT), which is part of the IRS Form 2290, has been extended to November 30 of 2011. It is also not possible to receive a receipt for the Form 2290 until after November 1st. This means that the majority of those filing this tax will not do so until November.

Since a stamped Schedule 1 is required to register a vehicle with the Department of Motor Vehicles, they will be accepting the HVUT proof of payment for the previous tax year of July 1, 2010 – June 30, 2011, to make things go as smoothly as possible this year. The IRS has informed taxpayers of the Form 2290 delay and the available options for payment once the form is available.

The following items may be accepted by the DMV as proof of HVUT payment until November 30, 2011:


  • Original or copy of a Stamped Schedule 1 from the Form 2290 (electronically watermarked or manually stamped) for the previous tax year of July 1, 2010 – June 30, 2011.
  • A copy of the IRS Form 2290 from the previous tax year, filed with the IRS as well as a copy of the front and back of the check to the IRS for the entire HVUT payment.
  • Original or copy of an IRS Form 2290 (electronically watermarked or manually stamped), listing the vehicle as a “Credit Vehicle” for the previous tax year.
Once the IRS begins issuing the Form 2290 again, the process will revert to the normal procedures. The proof of HVUT payment will then be able to be sent to the DMV for any applications requiring HVUT verification.

This tax that the IRS collects is an annual tax on commercial motor vehicles that weigh
55,000 pounds or more. This is referred to as the taxable gross weight of a vehicle. Congress is in the process of extending the tax, and the previously mentioned due date exists as a temporary regulation that postpones the due date until November 30, 2011.

Although it is still not possible to file Heavy Vehicle Use Taxes with Form 2290 yet, the Truck Tax experts at Express Truck Tax will be available to answer any questions as well as help drivers and trucking companies file those taxes. For more information, visit the Express Truck Tax website or give the Truck Tax experts a phone call at 704-234-6005. You can also email any questions to support@ExpressTruckTax.com.
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Saturday, August 6, 2011

Organizing IFTA Fuel Tax Information with Express Truck Tax

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The term IFTA refers to the International Fuel Tax Agreement. This agreement makes certain vehicles liable for a Fuel Tax for each state in which the vehicle was driven. IFTA is a tax collection agreement among the 48 contiguous United States and the 10 Canadian Provinces bordering the US.

Recording and Organizing the information required is a very precise and exacting task, but thanks to Express Truck Tax, there is now a much simpler web-based process. Vehicles required to prepare an IFTA return must keep track of miles traveled and fuel purchased within each state or province. Due to the complicated task of keeping accurate records, and filing this form appropriately many less than fortunate drivers receive IRS audits because information on their IFTA return was not properly entered.

As mentioned earlier, Express Truck Tax, along with providing a terrific service for other Truck Tax needs IRS Form 2290, will perform an internal audit of your information for you. In this internal audit performed by Express Truck Tax, it will check for basic mistakes and discrepancies, as well as perform a state adjacency check and an abnormal MPG audit. They also provide online trip sheets for drivers to keep accurate records that can be accessed from any computer, anywhere!  If you can prevent an IRS audit due to simple mistakes on an IFTA return, it makes no sense not to. Let Express Truck Tax help get it right the first time.
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Wednesday, August 3, 2011

Three Month Extension of IRS Form 2290(HVUT) - Now Due on Nov. 30, 2011

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The IRS recently advised those in the transportation industry with heavy highway vehicles that their next federal highway use tax return will be due on November 30, 2011, instead of the typical due date of August 31st.

The current highway use tax is scheduled to expire on September 30, 2011. The proposed temporary regulations dictate that the November 30th filing deadline for Form 2290 HVUT Return for the tax period that begins on July 1, 2011, applies to vehicles used during July, as well as those first used during August or September. The IRS also states that returns should not be filed and payments should not be made before Nov. 1. This extension is designed to reduce confusion and possible multiple filings that could result if Congress reinstates or modifies the tax after that date.

For those in the transportation industry who need to apply for state vehicle registration on or before November 30th, the new regulations require states to accept the stamped Schedule 1 of the Form 2290 issued by the IRS for the previous tax year, ending on June 30, 2011 as a proof of payment. Federal Law requires that state governments receive proof of payment of the federal highway use tax as a condition of vehicle registration. Typically, after the return is filed and the tax is paid, the taxpayer receives a stamped Schedule 1 to use when registering the vehicle.

If someone needs to register a newly acquired vehicle during the July-to-November period, the new regulations require a state to register the vehicle, without proof that the highway use tax was paid, as long as the person registering the vehicle presents a copy of the bill of sale or another document showing that the owner purchased the vehicle within the previous 150 days.

The heavy vehicle use tax applies to trucks, truck tractors and buses with a taxable gross weight of 55,000 pounds or more. Vehicles such as vans, pick-ups and panel trucks are typically not taxable because they fall below the 55,000-pound requirement.

Although the IRS discourages filing until November 1, 2011, the good folks at Express Truck Tax are willing to help you every step of the way!  If you have any questions regarding Truck Taxes, and how to file them, feel free to chat with their experts at (704) 234-6005.  You can also email them at support@ExpressTruckTax.com.  For more information about Truck Taxes, check out their Website and Blog: ExpressTruckTax.com
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Saturday, July 16, 2011

Federal Heavy Vehicle Use Tax Form 2290 Service Provider

If you are required to pay Heavy Vehicle Use Taxes (HVUT), you must file the IRS Form 2290. If you have been paying these taxes for many years, then you know that this form has historically been filed by paper. However, there have been some huge technology advances in the past few years and the IRS does now accept and encourage taxpayers to E-File their 2290 Form.  

The IRS has certified several 3rd Party Service Providers to E-File the Form 2290 on behalf of those taxpayers who need to file. 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 you should consider. 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. You can also refer to the IRS Website to see a complete list of Authorized E-File Providers.  

If you are filing several types of Truck Taxes and not just the Form 2290, such as IFTA, or Form 8849 then it would be helpful to have them all filed from the same place. Some service providers are exclusively for Form 2290, or Form 8849, etc. The most convenient and economical way of filing would be to have them all filed from the same service.

The benefits of a web-based system are indeed numerous. If an E-Filing system is not web-based, then there is less reason to use it. The IRS recommends E-Filing because of it’s 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 truck tax needs, and they are authorized by the IRS as an official E-File provider. 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), as well as email support 24/7. 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 is processed by the IRS and sent back to the person filing.
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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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Wednesday, July 13, 2011

Internal Revenue Service Form 2290 Section Overview

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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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.