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Showing posts with label road tax 2290. Show all posts
Showing posts with label road tax 2290. Show all posts

Monday, July 2, 2018

How to Get Your Stamped Schedule 1 in Minutes

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How to Get Your Stamped Schedule 1 in MinutesIt’s official! The IRS is now accepting your Heavy Vehicle Use Tax (HVUT) 2290 returns! But do you know what that means here at ExpressTruckTax? When you complete your Form 2290 filing with ExpressTruckTax, you will receive your stamped Schedule 1 in just a matter minutes!

Why wait to file your heavy highway use tax when you can complete your Form 2290 for 2018 today? ExpressTruckTax offers an easy-to-use filing process making Form 2290 filing easier than ever before. Here is how you can get started.

Before we start the ExpressTruckTax Form 2290 filing process, you will need some essential information.
  • Business Name & Address
  • EIN (Employer Identification Number)
  • VIN (Vehicle Identification Number 
  • Gross Taxable Weight
  • Authorized signatory details

If you are going to pay the IRS via direct debit, be sure to have your routing and account number ready. With ExpressTruckTax your can also pay 2290 with credit card or debit starting this tax season.

Please Keep in Mind: You have to have an EIN for Form 2290 filing online. You can not use your SSN (Social Security Number). If you need to apply for an EIN, click here. Once you apply, you will need to wait up to 10 business days for it to become active in the IRS system.

How to File IRS Form 2290?

Step 1:

Using your email address and password, you will need to create a free ExpressTruckTax account.

Step 2:

When you are ready to start the Form 2290 filing process with ExpressTruckTax, you will click the orange ‘Start New Return’ button and enter the basic information for your trucking business (Name, address, and EIN).

Step 3:

You will enter your tax year and your vehicle’s first used month. ExpressTruckTax Form 2290 filing is based on your vehicles first used month and is due the last day of the month following when it is was first used.

For example: If you first used your vehicle in July, your IRS Form 2290 will be due August 31, 2018. The current tax period runs from July 1st, 2018 until June 30th, 2019. Your current schedule 1 for the 2017-2018 season expired on June 30th, 2018. You will need to file with ExpressTruckTax before the 2290 due date to ensure your information is accepted by the IRS.

Step 4:


How to Get Your Stamped Schedule 1 in Minutes
Enter your vehicle information including the Vehicle Identification Number (VIN) and taxable gross weight. You will need to select if your vehicle was used specifically for logging or agricultural purposes. If so you will be granted a break on your taxes or be exempt. However, you will still need to file to receive your stamped Schedule 1. You will also need to indicate if your vehicle is suspended.



Step 5:

ExpressTruckTax will then calculate the tax amount you owe the IRS. Once you have this amount you can then pick from one of the following payment options: Pay 2290 with credit card, debit, direct debit, electronic funds withdrawal, EFTPS, check, or money order.

Step 6:

ExpressTruckTax will then give you the ability to review all your information and make any corrections. Our system will perform an instant internal audit to ensure error-free filing; however, we highly suggest that you double check your VIN number at this time as it is the number one reason for HVUT rejection.

Step 7:

Once any and all corrections have been made, you will then transmit your form directly to the IRS. You will enter a 5-digit code of your choice at the bottom of your form to electronically sign and transmit.

Step 8:

Sit back and relax! You will receive your stamped Schedule 1 in just a matter of minutes, and you will be set until 2019. 

File Your Heavy Use Tax Over the Phone

If you are looking for a full-service solution contact the sister product of ExpressTruckTax, TSNAmerica. Their outstanding bilingual support team will file Form 2290 on your behalf over the phone. The process is straightforward and will take less than 5 minutes. Give them your information and they will do the work for you. Once they have submitted your information to the IRS, you will receive a copy of your stamped Schedule 1 via email.

TSNAmerica: 803.386.0320


Need Help Filing HVUT 2290 Online With ExpressTruckTax?

Our dedicated ExpressTruckTax support team is available via phone, live chat, and email. These US-based representatives are HVUT experts and will take the time to answer all of our questions and will even walk you through the entire filing process.




Start My Form 2290 Filing Today!




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Thursday, June 28, 2018

You Need to Know About Vehicle Type For Form 2290 Filing

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You Need to Know About Vehicle Type For Form 2290 FilingWith the Form 2290 due date coming up fast, ExpressTruckTax is here to help with tips about the filing process, and where you can save money. We don’t want you paying more than you have to. Today we are looking at the different vehicle types for Form 2290 filing. Some vehicle types are subject to lower tax rates, credits, or could exempt you from the heavy use tax altogether. 

Before we get into the different 2290 vehicle types you can file with ExpressTruckTax, let’s review who must file the heavy use tax. If you own and operate a heavy vehicle 55,000 Ibs or more in gross weight, you are required to receive a stamped Schedule 1 after Form 2290 filing. Your gross weight is the total weight of your vehicle unloaded. However, this will include any equipment or accessories you typically use on a haul.

Vehicles that qualify for the heavy highway use tax include any self-propelled vehicles that are designed to carry loads on public highways, regardless of their possible other functions. An example of other functions could consist of carrying special goods/supplies, passengers, or permanently mounted equipment.

Logging Vehicle

You might confuse the term “logging vehicle’ with an ELD, however, for Form 2290 filing purposes these vehicles are used to … well... haul logs. So if your vehicle is used to haul wood or other products from the forest, it could classify, and this is important because you can receive a reduced tax rate.

Ensure you are paying the correct tax amount by checking the IRS criteria for logging vehicles:
Your truck is exclusively used to transport material harvested from a forested site, or your vehicle is used solely to transport harvested materials from one forested location to another forested place. If your truck runs between forested sites, it can use public highways in between those sites and still be considered a logging vehicle.

AND

Your vehicle is registered in your base state (or any other state in which it is required to be registered) as a highway motor vehicle used exclusively for the transport of harvested materials from a forested site. Although the truck must be registered as a “logging vehicle” in your state, no special tag or license plate is required to identify the vehicle as a logging vehicle.

Harvested Material:
According to the IRS guidelines, harvested products can include any raw timber taken from a forest, OR any timber that has been processed on the forested site for commercial processes, meaning the timber has already been sawed into lumber, chipped, or milled in some way.

Agricultural Vehicles

Vehicles typically required to file the road tax 2290 are those with a taxable gross weight of 55,000 Ibs and travel over 5,000 miles on public highways through the current tax period. However, to give farmers and suppliers a break, the IRS requirements are slightly more lenient for vehicles used to transport agricultural products. Those vehicles that qualify regardless of their weight are allowed to drive up to 7,500 miles on public highways each tax period before having to pay the heavy highway use tax.

However, this does not exempt any vehicles from Form 2290 filing. If your vehicle's gross weight exceeds 55,000 Ibs, you will still need to receive a stamped Schedule 1 Form 2290.

Ensure you are paying the correct tax amount by checking the IRS criteria for agricultural vehicles:
The vehicle is used primarily for farming purposes throughout the tax year. However, what does the IRS consider “primarily for farming purposes”? It’s quite simple. More than half of the vehicle’s total mileage for the year must be used for farming purposes. Also, a farming purpose, according to the IRS, is any activity that contributes to the conduct of a farm. This can include activities such as transporting goods to and from a farm (goods like livestock, produce, animal feed, fertilizer, etc.), direct use in agricultural production, or just performing work around the farm like repairing fences, building irrigation ditches, clearing land, etc.

AND

The vehicle is registered as an agricultural vehicle in your state. Although your vehicle must be registered as such, no special license plates or tags marked “agriculture” are required to maintain your status as an agricultural vehicle. If your vehicle meets both of these requirements above, then you can file as an agricultural vehicle with a higher mileage limit.

If you file your agricultural vehicle as a Suspended (Category W) at the beginning of the tax period but then exceed the 7,500-mile limit, you will need to submit a Form 2290 Amendment for a Milage Increase. The Form 2290 Amendment is due by the end of the month following the month you exceeded the mileage limit. After filing the Amendment, the IRS will prorate your heavy highway use tax for the remaining months of the tax year. This means that even though you will owe some tax, it will not be for the full amount you would have owed.

Suspended Vehicles


You Need to Know About Vehicle Type For Form 2290 Filing
A suspended or credit vehicle is a highway motor vehicle that is expected to travel 5,000 miles or less (7,500 miles or less for agricultural vehicles) during the tax period. This mileage limit applies to the total amount of miles it’s driven on the road, regardless of the number of owners.

Other suspended or credited vehicles include those that were sold, destroyed, or stolen and they must all be reported on your 2290. If they exceed the mileage limit during the tax period, then you’ll owe HVUT for them.

When you e-file your IRS Form 2290 with ExpressTruckTax we will auto-generate Form 8849 so you can claim a refund or credit on the amount you paid to the IRS for these vehicles.

Exempt Vehicles

Vehicles that are exempt from the HVUT don’t need to be filed for, regardless of how many miles they travel. They’re 100% exempt from the Heavy Vehicle Use Tax! A few HVUT exempt vehicles include qualified blood collector vehicles, mobile machinery used for non-transportation purposes, heavy vehicles used by the federal government, and more.

When is The Form 2290 Due Date?

You must complete your Form 2290 filing by the last day of the month following the first use month during the current tax year. The typical trucking tax year is July 1, 2018, to June 30, 2019. If your tax period stated in July of last year your Schedule 1 Form 2290 will be due on August 31st.

File Your 2290 Form 2018 Online

Now that you know how to save money based on your vehicle type it is time to File your 2290 Form 2018 online. Follow ExpressTruckTax’s easy step-by-step filing process online or call our sister product, TSNAmerica, to file over the phone in less than 10 minutes. Complete your IRS Form 2290, transmit directly to the IRS, and receive your stamped Schedule 1!




Start my Form 2290 Filing




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Thursday, June 21, 2018

Form 2290 Filing Penalties You Need to Know

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Form 2290 Filing Penalties You Need to Know
The heavy highway use tax or Form 2290 due date is quickly approaching. Have no fear, you still have plenty of time for Form 2290 filing with ExpressTruckTax. But what happens if you miss the Form 2290 due date? Well, in short, you will have some major IRS penalties. Here are the Form 2290 filing penalties you need to know before the deadline and how to file with ExpressTruckTax.


Taxes can be confusing and often frustrating when trying to decipher IRS terminology, but if you miss your Form 2290 due date, the penalties will make the whole tax situation even worse. That is whyExpressTruckTax is here to help you with your Form 2290 filing.


Heavy Use Tax Penalties

If you can show reasonable cause for failing to file or paying on time, you may not be penalized. If you complete your Form 2290 filing with ExpressTruckTax after the deadline be sure to attach an explanation to your return to show reasonable cause. However, your explanation may or not be accepted by the IRS.

The penalty for failing to file your heavy use tax IRS Form 2290 by the August 31 deadline with ExpressTruckTax is equal to 4.5% of the total tax amount due, and the penalty will increase on a monthly basis for up to five months. The penalty for failing to pay your heavy highway use tax payment is .5% of your total tax amount. You will also face an additional interest charge of .54% per month. This penalty can make the amount you owe increase pretty quickly.

Form 2290 Filing Penalties You Need to Know
Depending on the state, your vehicle may be suspended until you can provide proof of HVUT payment. Your stamped Schedule 1 serves as your proof of payment, and you receive it after your Form 2290 filing. You need a stamped Schedule 1 to renew your tags and register new vehicles. Without it, you will be operating illegally. Trust me you don’t want to mess with that so it is important you file on time with ExpressTruckTax and receive your stamped Schedule 1. 






Form 2290 Filing Made Easy With ExpressTruckTax

Now that you know what to expect if you file or pay after the Form 2290 due date we are sure you will avoid it. Thankfully there is a super easy solution. ExpressTruckTax provides you a quick and convenient e-filing process for hassle-free Form 2290 filing.

If you have any questions, ExpressTruckTax is here for you every step of the way. We have a dedicated ExpressTruckTax US support team ready to help you! We promise never to stick you with a robot or automated call system. Give us a call at 704.234.6005 or send us an email at support@expresstructax.om for 24-hour support in both English and Spanish.



Start My Form 2290 Filing



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Tuesday, June 19, 2018

7 Important Mistakes to Avoid When Filing Your Heavy Use Tax

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Attention all truckers! The Heavy Vehicle Use Tax (HVUT) season is upon us!

However, time and time again we tend to make the same mistakes when it comes to Form 2290 filing. So let’s go over the seven important mistakes to avoid when filing your heavy use tax.

1. Incorrect EIN

As an owner-operator, you are required to have an employer identification number (EIN) to file your heavy use tax. An EIN is assigned to companies operating in the United States to identify them for tax reporting purposes.

Your trucking business’s EIN will be a string of nine digits, similar to your Social Security Number, but they can be easily distinguished because of their format (EIN: 12-3456789 SSN: 123-456-789). Although this number is labeled as identification for “employers,” your trucking business is still required to have one for Form 2290 filing. If you use your SSN, your IRS Form 2290 will be rejected.

If you still need an EIN don’t worry, you can quickly apply for one over the phone with our sister product, TSNAmerica. It will take you less than 10 minutes to request your EIN! However, once you apply, please keep in mind it will take approximately two weeks for it to be active in the IRS database.

2. Incorrect VIN

Your Heavy Highway Use Tax will be rejected if your VIN or Vehicle Identification Number is wrong. Because VINs consist of 17 characters including both numbers and letters it can be really easy to mistype one or more of them.

So whip out those glasses to clearly read your VIN and remember to type slowly. Double check your VIN to make sure that it is correct. If you have gotten your VIN wrong in the past, you might want to triple check before sending it to the IRS.

Thankfully when you file your heavy use tax with ExpressTruckTax, you can correct your VIN and retransmit to the IRS for free.

3. Tax Calculation Errors

At ExpressTruckTax we understand that tax calculations can be hard; which is why our system automatically calculates your tax amount for you. So during the Form 2290 2018-19 season, you don’t have to worry about all the complicated tax math.

Plus, when you are ready to file your Heavy Highway Use Tax, you don’t have to worry about paying right then. Merely pay before the August 31st deadline to avoid any IRS penalties.

4. Incorrect Filing Status

If you know you will travel fewer than 5,000 miles on public highways during the upcoming tax year, then you should file your vehicle as suspended, This will save you both time and money, and if you ever exceed the mileage limit, you can always submit an Amendment through ExpressTruckTax.

5. Incorrect Tax Year

When you start your Form 2290 filing process be sure to select the correct year! You will want to file for the 2018-19 tax year. If you have any questions contact our US-based support team.

6. Duplicated Vehicle Information

You don’t need or want to enter a single vehicle more than once. However, if you accidentally enter the same vehicle’s information twice, you can remove it easily by clicking the “remove” button next to the duplicate vehicle.

7. Incorrect First-Used Month


If you make this mistake, your Heavy Highway Use Tax might not be rejected, but it will cause a problem when it comes time to get your new truck tags. The tax year for HVUT begins July 1st. This means the first-used month is automatically July even if you are filing in June or August. There is only one instance where you would choose a later month, and that is if your truck was purchased after the beginning of the tax year.

For example, if you purchase a new truck in September, then that would be the first-use month.

The Key to Correct Form 2290 Filing

So what does it all boil down to? Make sure you check, re-check, and triple check your taxes again before hitting submit.

If you have any questions, we are here for you every step of the way! We have a dedicated US support team ready to help you! We promise never to stick you with a robot or automated call system. Give us a call at 704.234.605 or send us an email at support@expresstrucktax.com for 24-hour support in English and Spanish.



Start My Form 2290 Filing



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