Don’t end up blindsided. Filing IRS 2290 for 2020 by the 2290 deadline is critical, not only to stay compliant but also to remain in operation and avoid fines.
Still not convinced? Don’t wait around until the end of August to find out for yourself, we’ll tell you what will happen right now. Here’s a rundown of what exactly what happens when you miss the IRS 2290 deadline:
What Happens If You Forget About IRS 2290?
IRS 2290 Deadline
Normally, the annual IRS 2290 deadline is August 31st.
We’re off to a good start. You’ve got a couple more days to file than normal.
But you’re busy. What if you still can’t find the time or motivation?
IRS 2290 Penalties
Here’s some motivation:
If you miss the IRS 2290 deadline, you’ll face penalties. Let’s say you simply forget to file.
First, you’ll need to pay the IRS 2290 late filing penalty, which is 4.5% of the total HVUT 2290 tax amount you owe.
Then, you’ll face an additional .54% of interest each month that passes without you filing.
On top of that, you’ll still have to pay the original HVUT 2290 amount you owe whenever you do file.
If the reason for late filing was an error on your original IRS 2290 return, you may be able to avoid penalties altogether. You can attach an explanation to your corrected IRS 2290 for 2020 filing, showing reasonable cause for the delay.
Even this, however, does not guarantee that the IRS will accept your statement and save you from the penalty.
Avoiding Form 2290 Penalties
There’s an easy fix for avoiding IRS Form 2290 penalties: File HVUT 2290 before the 2290 due date!
The Form 2290 deadline is usually August 31.
You really have no excuse not to file on time. Especially with ExpressTruckTax as an option.
ExpressTruckTax allows you to file IRS 2290 for 2020 online quickly and easily.
Plus, you’ll get your Schedule 1 just minutes after you’ve submitted your return. It doesn’t take long, and you can file from anywhere. Knock it out today and forget about the IRS 2290 due date until next year.