When Filing the IRS Form 2290, you will be asked to provide the First Use month for a vehicle.
This date refers to the time when the vehicle was placed in service during the tax period. If this vehicle has been in service for previous years and will continue to be in service this year, the first use month will be July. This is because the tax period for Heavy Vehicle Use Taxes is from July until June.
If a new vehicle is placed in service during the tax period, the first use month would be the month in which the vehicle was first used. If a vehicle was only used during part of the tax period, the tax for the year will be prorated.
To e-file a Form 2290 online, you can use www.ExpressTruckTax.com and if you have any questions about your First Use Month, you can contact the Truck Tax Experts at 704.234.6005.
Category: 2290 e-file
All About IRS Form 2290 (Truck Taxes)
What Is IRS Form 2290?
IRS Form 2290 exists as a way to pay Heavy Vehicle Use Taxes, or HVUT, which must be filed with the IRS for any highway motor vehicle that exceeds a gross weight of 55,000 pounds. IRS Form 2290 also includes what is known as a Schedule 1, which is used to report all vehicles for which you are reporting tax (including an increase in taxable gross weight) and those that you are reporting suspension of the tax by category and vehicle identification number (VIN). The Schedule 1 may also be used as proof of payment to register your vehicle in any state. Use the stamped Schedule 1 that was returned to you by the IRS for this purpose.
Who Must File?
You must file a Form 2290 and Schedule 1 for the tax period beginning on July 1st, and ending on June 30th, if a highway motor vehicle is registered, or required to be registered, in your name under state, District of Columbia, Canadian, or Mexican law at the time of its first use during the period and the vehicle has a taxable gross weight of 55,000 pounds or more. Any type of business entity may file a Form 2290 with the IRS.
How much is the Tax?
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.
The gross taxable weight is calculated by adding the following:
IRS Form 2290 exists as a way to pay Heavy Vehicle Use Taxes, or HVUT, which must be filed with the IRS for any highway motor vehicle that exceeds a gross weight of 55,000 pounds. IRS Form 2290 also includes what is known as a Schedule 1, which is used to report all vehicles for which you are reporting tax (including an increase in taxable gross weight) and those that you are reporting suspension of the tax by category and vehicle identification number (VIN). The Schedule 1 may also be used as proof of payment to register your vehicle in any state. Use the stamped Schedule 1 that was returned to you by the IRS for this purpose.
Who Must File?
You must file a Form 2290 and Schedule 1 for the tax period beginning on July 1st, and ending on June 30th, if a highway motor vehicle is registered, or required to be registered, in your name under state, District of Columbia, Canadian, or Mexican law at the time of its first use during the period and the vehicle has a taxable gross weight of 55,000 pounds or more. Any type of business entity may file a Form 2290 with the IRS.
How much is the Tax?
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.
The gross taxable weight is calculated by adding the following:
- Unloaded weight of vehicle, fully equipped for service.
- Unloaded weight of any trailers equipped for service and customarily used in combination with the vehicle
- Weight of the maximum load customarily carried on the vehicle and on any trailers customarily used in combination with the vehicle.
Who is Exempt?
Although it is rare, some Vehicles that fit the above description may be exempt from the HVUT and Filing requirements of Form 2290. To officially be exempt from filing Form 2290, the vehicle must be owned and operated by the following:
- The Federal Government
- The District of Columbia
- state or local government
- American National Red Cross
- Non-Profit Volunteer Fire Department, Ambulance Association, or Rescue Squad
- Indian Tribe Government (Only if the Vehicle is Used for essential Tribe or Government Function)
- Mass Transportation Authority (Only if granted certain powers normally exercised by the state)
- Qualified Blood Collector Vehicles
- Mobile Machinery that meets specifications for a chassis
There are several providers of services that can help you E-File Form 2290 with the IRS, one such provider is www.expresstrucktax.com. They provide a very excellent service for all Truck Tax Needs.
The Transportation Bill Faces the Gridlock of Capital Hill
while most politicians love to talk about creating jobs for the American people, there is now a real opportunity to avoid thousands, if not close to a million, of American jobs being lost. The Transportation Bill that is currently in Congress funds this nation’s infrastructure. The current bill in place has already been extended many times, and many argue that a new piece of legislation should be created instead of simply extending this old bill. However, the time to act is now, and the simplest way to continue funding this nation’s highways and transportation projects is to extend the current legislation again.
Congressman Hank Johnson represents Georgia’s 4th congressional district and had the following to say regarding the Transportation Bill:
Cutting funding for infrastructure is no way to grow our economy or create jobs. Republicans who threaten the highway bill are way off base. Short-sighted pandering to their tea party political activists may be easy, but it is deeply irresponsible.
Instead of threatening to slash federal infrastructure spending, we should be making bold, forward-looking investments in America’s future.
President Barack Obama is right on the money when he calls upon Congress to aggressively invest in America’s infrastructure. It’s a common-sense vision backed by both business and labor because it’s the right policy at the right time.
Congressman Johnson argues that extending this bill simply makes sense, and that it is a smart investment because it is literally investing in America. The United States’ aging infrastructure has caused our overall rank to fall from 15th to 24th in the past year according to The World Economic Forum’s Global Competitiveness Report. Countries like China, India, and Brazil are making larger investments in their nation’s infrastructure, while we are busy arguing over the idea of funding it at all. Although there is a tendency for intense gridlock in Washington, there is still good reason to believe that this bill will be extended due to the sheer necessity. Even if this is slightly delayed, it would have a harsh impact on the highway and transit system. This party politics is becoming something of a game in Washington where both parties refuse to negotiate until it is nearly too late. Once this is enacted, anyone wishing to File IRS Form 2290 for Heavy Vehicle Use Taxes will be able to file during the month of November. The IRS-Authorized e-file provider, Express Truck Tax, will be able to help any Truck Driver, Trucking Company, or Service Provider get their Excise & HVUT taken care of. To e-file through ExpressTruckTax.com it only takes a few minutes and can cost as little as $9.90. If you have any questions about the process, you can call them at 704-234-6005 begin_of_the_skype_highlighting 704-234-6005 end_of_the_skype_highlighting or send an email to support@ExpressTruckTax.com.
Be Ready to File Form 2290 for Heavy Highway Vehicles
As the month of November moves closer and closer, you will want to be able to get your Form 2290 taken care of as swiftly as possible once it is made available. It is unfortunate enough that the filing process was delayed, but to avoid any future confusion about the issue, it would be beneficial to be ready to file once the form is available.
In order to make the filing process easier with the IRS using Form 2290, it is very important that you keep accurate records, just like 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 3 years prior to the filing date for any taxable highway vehicles registered to them. For fleet owners 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 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. You will need a description of all vehicles for which you are filing as well as a VIN (Vehicle Identification Number) for each one. You will also need to know the gross taxable weight of the vehicle. It is also necessary to report the date the vehicle was acquired, as well as the name and address of the previous owner. The first use month for the taxable period is also required for reporting. If a vehicle is considered to be suspended, keep a record of actual highway mileage. If the vehicle is an agricultural vehicle, then keep accurate records of the number of miles it is driven on a farm or field. 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.
In order to make the filing process easier with the IRS using Form 2290, it is very important that you keep accurate records, just like 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 3 years prior to the filing date for any taxable highway vehicles registered to them. For fleet owners 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 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. You will need a description of all vehicles for which you are filing as well as a VIN (Vehicle Identification Number) for each one. You will also need to know the gross taxable weight of the vehicle. It is also necessary to report the date the vehicle was acquired, as well as the name and address of the previous owner. The first use month for the taxable period is also required for reporting. If a vehicle is considered to be suspended, keep a record of actual highway mileage. If the vehicle is an agricultural vehicle, then keep accurate records of the number of miles it is driven on a farm or field. 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.
IRS New HVUT (form 2290) Regulations for 2011
There are several taxes that are imposed on those in the trucking industry each year. Heavy Vehicles travelling on public highways are subject to HVUT, or Heavy Vehicle Use Tax. These taxes can be filed by filing a Form 2290. Truckers, owner operators, and trucking companies were recently notified by the IRS that their next highway use tax return for filing HVUT (which is usually due on August 31) will instead be due on November 30, 2011. The primary reason for the extension of the due date is to reduce confusion and multiple filings of Form 2290 that could result if Congress reinstates or makes changes to the current highway use tax after September 30, 2011.
The previously mentioned Heavy Vehicle Use Tax applies to trucks, truck tractors and buses with a gross taxable weight of 55,000 pounds and above. There are also many detailed rules and regulations that apply to vehicles with minimal road use, logging/agricultural vehicles, vehicles transferred during the year, and also those whose first use month was during July. In typical scenarios, vans, pick-ups and panel trucks are not taxable because would [under normal circumstances] fall below the 55,000 pound requirement.
The recently determined filing deadline of November 30 for Form 2290 (Heavy Highway Vehicle Use Tax Return) applies to the tax period beginning on July 1, 2011. This does not only include those vehicles that were used during July, it also includes those whose first use month was during August or September. According to recent statements from the IRS, 2290 tax returns should not be filed and payments should not be made until November 1, 2011.
Regulations for new vehicles that need to be registered will also take effect. Any new vehicle that needs to be registered during July through October of 2011, state DMV’s are now required to accept a Stamped Schedule 1 from the previous year since it is not possible to receive a stamped Schedule 1 until November of 2011. If a vehicle was acquired within the current tax year, and there is not a stamped Schedule 1 for the previous year, the owner only needs to provide some form of proof of purchase to prove that the vehicle was recently placed in his/her possession.
Fortunately, once the Form 2290 is available, the electronic filing service: ExpressTruckTax.com will be able to E-File the form and send it to the IRS in minutes. Express Truck Tax is an IRS Authorized E-File provider for filing Form 2290. The E-Filing Process is very simple; the form can be completed in minutes, and it can be sent to the IRS as soon as it is finished. It is such a time saver when you compare it to waiting in the IRS office for hours or sending it via postal mail and waiting weeks for the IRS to process it. All you will need is your basic information about yourself, and your truck.
The previously mentioned Heavy Vehicle Use Tax applies to trucks, truck tractors and buses with a gross taxable weight of 55,000 pounds and above. There are also many detailed rules and regulations that apply to vehicles with minimal road use, logging/agricultural vehicles, vehicles transferred during the year, and also those whose first use month was during July. In typical scenarios, vans, pick-ups and panel trucks are not taxable because would [under normal circumstances] fall below the 55,000 pound requirement.
The recently determined filing deadline of November 30 for Form 2290 (Heavy Highway Vehicle Use Tax Return) applies to the tax period beginning on July 1, 2011. This does not only include those vehicles that were used during July, it also includes those whose first use month was during August or September. According to recent statements from the IRS, 2290 tax returns should not be filed and payments should not be made until November 1, 2011.
Regulations for new vehicles that need to be registered will also take effect. Any new vehicle that needs to be registered during July through October of 2011, state DMV’s are now required to accept a Stamped Schedule 1 from the previous year since it is not possible to receive a stamped Schedule 1 until November of 2011. If a vehicle was acquired within the current tax year, and there is not a stamped Schedule 1 for the previous year, the owner only needs to provide some form of proof of purchase to prove that the vehicle was recently placed in his/her possession.
Fortunately, once the Form 2290 is available, the electronic filing service: ExpressTruckTax.com will be able to E-File the form and send it to the IRS in minutes. Express Truck Tax is an IRS Authorized E-File provider for filing Form 2290. The E-Filing Process is very simple; the form can be completed in minutes, and it can be sent to the IRS as soon as it is finished. It is such a time saver when you compare it to waiting in the IRS office for hours or sending it via postal mail and waiting weeks for the IRS to process it. All you will need is your basic information about yourself, and your truck.
Pay HVUT (IRS form 2290) On Time with Express Truck Tax
As anyone who is a veteran of the Trucking Industry will tell you, there are many more business and economic responsibilities other than simply getting something delivered at the right time and place. Heavy Vehicle Use Tax, or HVUT, is one of the most common taxes on heavy highway vehicles in the United States. Paying this tax properly involves filing the IRS Form 2290. This Form is so easy to E-File online, and thanks to Express Truck Tax, there is no reason to be late, as evidenced by these points:
- IRS Fines
- Unless you enjoy IRS Audits and spending time in courtrooms, it is a terrible to not pay your taxes. The IRS can add all kinds of interest and late fees, but if you end up in court over the matter it will lead to the court costs as well as heavy fines.
- Not filing or not paying is a felony
- Fines are bad enough, but it could be worse. Going to court can lead to criminal charges. The IRS & state governments could prosecute anyone who purposely cheats to avoid paying the truck tax. It can also lead to time in prison.
- Stay focused on your business
- If these are not paid in a timely manner, the previously mentioned fines, court appearances, and possible jail time could seriously put a halt on your business. The time and energy spent worrying about IRS Audits, Fines, and Court Dates is not worth it. Especially when the taxes are not typically very high.
- Taxes help improve public roads
- Paying taxes is never a joyful experience, but you should get some gratification in the fact that much of the taxes paid for HVUT go back into the cost of roads and highway expenses. It just makes sense; if you enjoy using something, you shouldn’t mind paying for it.
- It’s So Easy
- With Express Truck Tax, their team of Truck Tax experts will guide you through the process. All you need to do is login to www.ExpressTruckTax.com and start entering the vehicles that you need to file for. If there are any questions, you can call them at 704.234.6005 or send an email to support@ExpressTrucktax.com.
E-file IRS form 2290 with expresstrucktax.com on time. It’s made as easy as 1-2-3 to e-file truck tax 2290 and get IRS stamped Schedule 1 in few minutes. Avoid IRS penalties and Audits by keeping your 2290 records with express truck tax. E-file IRS 2290 VIN Corrections for free of cost.
IRS Tax Implications for those in the Trucking Industry
For many Owner-Operators of Heavy Highway Vehicles, the benefits of self employment make being on the open road a very exciting experience. However, due to the heavy regulation of the Trucking and Transportation Industry, there are various taxes you must pay for self-employment income earned as an independent truck driver. Since self-employed individuals are not subject to tax withholding, there is more control over periodic tax payments throughout the year, which can be cut down by claiming deductions for business expenses.
Self-Employment Tax
The Self-Employment tax applies to truck drivers who operate their own business. These taxes are imposed in order to fund the Social Security and Medicare programs. The disadvantage of paying these taxes as a self-employed individual is that you owe twice as much as taxpayers who earn their income from employment. This is because employers are responsible for paying the other half of these taxes for their employees. There is somewhat of a silver lining to this though, the IRS does allow you to claim a deduction for 50 percent of the self-employment tax payments you make as an adjustment to income.
Truck Driver Deductions
You are not required to pay income tax or self-employment tax on your gross earnings from self employed truck driving. Instead, it calculates your tax due on net earnings, which is equal to your gross earnings minus all deductions you can claim. In order to claim a deduction, the expense must be ordinary and necessary to operate your business. This may cover any number of expenses you incur, but typically, truck drivers may deduct the cost of gasoline, oil, truck repairs, insurance and parking charges. You may also deduct the cost of the truck itself by including the lease payments or depreciation of the purchase price in your deductions. And, if you ever stay in a hotel during those long road trips, you may deduct your lodging expenses also.
Self-Employment Tax
The Self-Employment tax applies to truck drivers who operate their own business. These taxes are imposed in order to fund the Social Security and Medicare programs. The disadvantage of paying these taxes as a self-employed individual is that you owe twice as much as taxpayers who earn their income from employment. This is because employers are responsible for paying the other half of these taxes for their employees. There is somewhat of a silver lining to this though, the IRS does allow you to claim a deduction for 50 percent of the self-employment tax payments you make as an adjustment to income.
Truck Driver Deductions
You are not required to pay income tax or self-employment tax on your gross earnings from self employed truck driving. Instead, it calculates your tax due on net earnings, which is equal to your gross earnings minus all deductions you can claim. In order to claim a deduction, the expense must be ordinary and necessary to operate your business. This may cover any number of expenses you incur, but typically, truck drivers may deduct the cost of gasoline, oil, truck repairs, insurance and parking charges. You may also deduct the cost of the truck itself by including the lease payments or depreciation of the purchase price in your deductions. And, if you ever stay in a hotel during those long road trips, you may deduct your lodging expenses also.
Other Truck Taxes
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:
- Calculating and paying the taxes owed on Heavy Highway Use Vehicles
- Claiming a suspension of the tax for vehicles driven less than 5,000 miles during the applicable period (or 7,500 miles if agricultural use)
- Claiming a credit for a sold, stolen or destroyed vehicle
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 2290 forms until November 1 of this year.
Stay Alert for Internal Revenue Service Phishing Scams
Scammers are like cockroaches; they are unwanted, yet they never seem to go away. Recently, there has been a set of IRS phishing emails that have been infesting the web. There have been at least two versions. One claims to be from “info manager@irs.gov” and another from “support manager@irs.gov.” These emails can look convincing with headers that read: “IRS notification.” Although it may seem authoritative, neither of these are legitimate and should be ignored, deleted, or forwarded along to phishing@irs.gov. Do Not reply and Do Not open the attachments.
Here is the plain text version of one of the emails:
Here is the plain text version of one of the emails:
Important Information about your tax return
We are unable to process your tax return
We received your tax return. However, we are unable to process the return as field.
Our records indicate that the person identified as the primary taxpayer or spouse on the tax return did not provided all the required documents shown on the tax form. Our records are based on information received from the Social Security Administration.
Based on this information, the tax account for the individual has been locked
What you need to do
Print out the attached notification and list of missing documents, fill it in, add the documents and send the following information to the address shown in the attached notification.
List of required documents:
- A copy of this letter
- Notification letter
- A photocopy of valid U.S. Federal or State Government issued identification.
Keep this notice for your records.
As you can see, this email is littered with typos and grammatical errors. That is always a Huge Red Flag if you are receiving an email that is supposedly from a professional organization. In addition to that, it is commonly known that the IRS does not send unsolicited e-mails to taxpayers. Therefore, most emails claiming to be from the IRS are most likely a scam.
Be very careful with these emails. Most of them try to get you to reveal your personal or financial information. Do not reveal any of this information via e-mail. Better yet, Do Not reply to the email at all. Don’t follow any links from these e-mails to any web sites where you might be asked for the same information.
Be very careful with these emails. Most of them try to get you to reveal your personal or financial information. Do not reveal any of this information via e-mail. Better yet, Do Not reply to the email at all. Don’t follow any links from these e-mails to any web sites where you might be asked for the same information.
Other e-mails may have attachments or links which download viruses or other malware onto your computer. Some of this malware, has the capabilities to retrieve financial and other personal information from your computer. Even if you don’t manually input personal information into these sites, the malware allows the scammers to track your personally identifiable information.
Key Point to Remember: the IRS will never initiate contact with you via email. They will not ask you to click links to fix your tax information or verify your tax account. Neither will you be advised of a mistake in your refund via email. If you are concerned that you need to contact the IRS, then you should call them (1.800.829.1040). Don’t click on an attachment or reply to an email claiming to be from the IRS.
So to recap: delete, delete, delete. Do Not open links. Do Not open any attachments. Do Not investigate on your own. The IRS can handle any investigation if necessary. If you would like to make the IRS aware of it, you can forward the e-mail to the IRS at phishing@irs.gov then DELETE the email.
This Information has been provided by the Truck Tax Team at www.ExpressTruckTax.com
