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.