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Showing posts with label form 2290 delay. Show all posts
Showing posts with label form 2290 delay. Show all posts

Friday, September 23, 2011

IRS Form 2290 Due Dates for the Tax Year 2011-2012

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The IRS Form 2290 for Heavy Vehicle Use Taxes (HVUT) must be filed annually for each taxable vehicle that is used on public highways during the current tax period. The normal tax period for heavy vehicles begins on July 1st and ends on June 30th of the following year. A Form 2290 must also be filed once a vehicle is placed in service. The due date for each month is the last day of the following month. For example: if a vehicle is placed in service on October 3rd, the Form 2290 will be due on November 30th.

This Year has been different because the legislation that controls Heavy Vehicle Use Taxes nearly expired. This caused the due dates of several months to be pushed back to November of 2011. That is why the due dates for this year slightly deviate from the traditional dates outlined in the previous paragraph.


Vehicle first used month Due date
July-2011 30-November-2011
August-2011 30-November-2011
September-2011 30-November-2011
October-2011 30-November-2011
November-2011 03-January-2012
December-2011 31-January-2012
January-2012 29-February-2012
February-2012 02-March-2012
March-2012 30-April-2012
April-2012 31-May-2012
May-2012 02-June-2012
June-2012 03-July-2012



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Thursday, September 22, 2011

IRS Form 2290: Heavy Vehicle Use Taxes

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Any Heavy Vehicle operating on a public highway is subject to filing the Form 2290 with the IRS. Heavy Vehicle Use Taxes (HVUT) is imposed on all vehicles with a registered gross weight of 55,000 pounds or more. The gross taxable weight is calculated by adding the following amounts:
  • The unloaded weight of any trailers, fully equipped for service, and typically used in combination with the vehicle
  • The maximum weight of the load customarily carried on the vehicle and on any trailers customarily used in combination with the vehicle.
  • The unloaded weight of vehicle itself, fully equipped for service.
You may wonder what the IRS considers to be a taxable highway motor vehicle that is subject to the Heavy Vehicle Use Tax. The IRS considers taxable Highway Motor Vehicles to be any self-propelled motor vehicle that is designed to carry a load on public highways. Examples of such vehicles include trucks, truck tractors, as well as buses. The IRS does not usually consider vehicles like vans, pickup trucks, panel trucks, or similar sized vehicles because they do not typically meet the 55,000 pound threshold amount.  

There are three different categories for HVUT rates for these vehicles.
  • Vehicles Below 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.
  • Finally, for vehicles that are over 75,000 pounds the maximum HVUT is $550 per year.
Express Truck Tax is authorized by the IRS to E-File Form 2290. 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. The form will then contain a watermark from the IRS as proof that it has been processed.

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. However, Once it is available, the folks at Express Truck Tax will be able to help get those taxes taken care of in no time.
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Friday, September 9, 2011

IRS Stamped Schedule 1 Form 2290

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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.
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Thursday, September 8, 2011

Heavy Vehicle Use Taxes (IRS Form 2290) for Commercial Vehicles

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A vehicle is considered to be commercial vehicle in the United States if it is titled or registered to a company. This all-encompassing definition includes vehicles in a fleet, company cars, as well as other vehicles used for business. Vehicles that are designed to carry more than 16 passengers are also considered to be a commercial vehicle.

Here are the qualifications for commercial vehicles
  • A company or corporation owns the title of the vehicle.
  • The vehicle is used for business purposes.
  • The vehicle is a leased vehicle and in the name of the financial institution that owns it.
  • The vehicle exceeds a certain weight and is therefore “classified” as commercial even though it may not be commercially used or commercially owned. A weight of 26,001 pounds or more is always considered to be commercial.
  • The vehicle is used to transport hazardous materials.
Commercial trucks are classified into different classes according to their gross weight:
1.   Class 1- GVWR:  from 0 to 6,000 pounds (0 to 2,722 kg)
2.   Class 2- GVWR:  from 6,001 to 10,000 pounds (2,722 to 4,536 kg)
3.   Class 3- GVWR:  from 10,001 to 14,000 pounds (4,536 to 6,350 kg)
4.   Class 4- GVWR:  from 14,001 to 16,000 pounds (6,351 to 7,257 kg)
5.   Class 5- GVWR:  from 16,001 to 19,500 pounds (7,258 to 8,845 kg).
6.   Class 6- GVWR:  from 19,501 to 26,000 pounds (8,846 to 11,793 kg)
7.   Class 7- GVWR:  from 26,001 to 33,000 pounds (11,794 to 14,969 kg)
8.   Class 8- GVWR:  above 33,000 pounds (14,969 kg)

If a Class 8 commercial vehicle weighs more than 55,000 lbs, it is subject to heavy vehicle use taxes. The tax is paid to the Internal Revenue Service (IRS) using the IRS Form 2290. Heavy Vehicle Use Tax is a federal tax. Individual states do not collect the tax. However, in order to properly register your vehicle with the state, you must present a Stamped Schedule 1 from the Form 2290 to the local DMV when registering the vehicle.

The official qualifications to be liable for heavy vehicle use taxes stipulate that a vehicle must have gross weight 55,000 lbs or more. The IRS defines taxable gross weight as the sum of:
  • The unloaded weight of a vehicle that is fully equipped for service
  • The weight of any unloaded trailers, equipped for service, and typically used with the vehicle
  • The maximum weight of the load customarily carried on the vehicle and on any trailers customarily used with the vehicle.
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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Wednesday, August 17, 2011

Keeping Records for Internal Revenue Service Form 2290

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When it comes time to file Heavy Vehicle Use Tax  with the IRS using Form 2290, it is very important that you keep accurate records, the same way that 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 in their name. For fleet owners, owner operators, 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 the 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:  
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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Thursday, August 11, 2011

What is the purpose of IRS Form 2290(HVUT) and how it can be e-filed?

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The purpose of Form 2290:

IRS Form 2290 is meant to send information about the usage of a commercial truck and to pay taxes on that use to the IRS. You can use this form for a single truck filing, or up to twenty-five vehicles can be reported on one form. The major reasons for filing the form include:
This IRS form only applies to a specific time period, which does not coincide with the calendar year. The typical Tax year for Form 2290 is from July 1st to June 30th of the next year. The form and any payment are typically due by the end of August of the corresponding year. The IRS requires that forms with 25 or more vehicles to be electronically filed.

As mentioned Earlier, the typical tax year is from July 1 to June 30, but this year it has changed.  Due to legislation being held up in Congress, there has yet to be a legislation enacted to collect these Heavy Vehicle Use Taxes. The IRS has announced that it will not be accepting these forms until November 1 this year.

Parts of the Form:

While this form is broken down into two parts, those who file electronically with ExpressTruckTax.com only need to enter information one time. The Form 2290 consists of the Form and the Schedule 1 that needs to be stamped by the IRS in order to register a vehicle with the state DMV. Much of the information for these forms are duplicate information. Filing online with the Express Truck Tax service will save you time by only entering information once.  

When E-Filing this form, instead of physically stamping the Schedule 1, the IRS will send a Schedule 1 with an official IRS watermark to verify that it was processed. State DMVs are required to accept this as proof of the Schedule 1.

Heavy Highway Vehicles:

The IRS also provides a way for owners and operators of multiple vehicles to include them in the same form. The Schedule attached to Form 2290 allows the taxpayer to list the VINs of all included vehicles. When filing electronically, you can even upload an excel document of all your vehicles. Another beneficial feature of ExpressTruckTax.com is the option to perform Free VIN Corrections. Instead of having the form rejected and sent back to you, you can correct the mistake and submit it to the IRS again at no extra charge.

Questions About the Form 2290:

If you have any questions about Filing Form 2290 or if you qualify, feel free to call the Truck Tax Experts at Express Truck Tax at (704)234-6005. You can also email them at support@expresstrucktax.com. You can also checkout their Website and Blog to stay up to date on the latest Truck Tax information: www.ExpressTruckTax.com.
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E-file your HVUT Form 2290 with ExpressTruckTax.