Category: Form 2290

E-File Your HVUT Form 2290 on Time to Avoid Penalties

Posted on August 3, 2012 by - 2290 form, August 31st 2012 deadline, e-file 2290, Form 2290, Form 2290 for 2012, Hvut 2290, HVUT Payment, irs 2290 penalties, stamped Schedule 1

Filing your Form 2290 for Heavy Vehicle Use Tax (HVUT) can be time consuming and confusing. The IRS has simplified this process by introducing the ability to E-File your Form 2290. Now that you can E-File, you can complete the process within minutes and you have an online record of previous returns right there at your fingertips.
ExpressTruckTax is an IRS Authorized E-File Provider that makes this process even easier with their friendly US based customer support team who is ready to eager to lend a helping hand if necessary. The program is very easy to use, even for those who are not too comfortable with a computer.
This tax is due every year and must be paid in full and on time or you will be assessed penalties and interest. The penalties for filing late will not be imposed if you can show reasonable cause for not filing on time. The penalty for failing to file IRS Form 2290 in a timely manner is equal to 4.5 percent of the total tax due, assessed on a monthly basis up to five months. Late filers not making an HVUT payment also face an additional monthly penalty equal to 0.5 percent of total tax due. Additional interest charges of 0.54 percent per month accrue as well.
The August 31st due date is approaching so E-File the Form 2290 online now, go to ExpressTruckTax.com. If you have any questions, contact our friendly US based customer support center in Rock Hill, SC at 704-234-6005 or email us at support@ExpressTruckTax.com.

Form 2290 HVUT Requirements

Posted on August 2, 2012 by - e-file 2290, Federal HVUT 2290, Form 2290, Form 2290 for 2012, Hvut 2290, HVUT Exemptions, HVUT Requirements, irs 2290, suspended vehicles

The heavy vehicle use tax or HVUT is an annual fee assessed on heavy vehicles operating on public highways at registered gross weights equal to or exceeding 55,000 pounds. The gross taxable weight of a vehicle is determined by adding the unloaded weight of the motor vehicle and any trailers together with the maximum load customarily carried on-road by the truck-trailer combination. IRS Form 2290 is filed annually to pay the HVUT due on the taxable vehicle and proof of payment is the Stamped Schedule 1. The monies collected are used to offset the cost for road repairs and maintenance.
 
Suspended vehicles (Category W) are still required to file a Form 2290, even though there is no tax due.  A vehicle is considered suspended if the motor vehicle does not exceed 5,000 miles or 7,500 miles for agricultural vehicles during the tax period, regardless of owners.
An agricultural vehicle is any highway motor vehicle that is:
1. Used (or expected to be used) primarily for farming purposes, and
2.  Registered (under state laws) as a highway motor vehicle used for farming purposes for the entire period. A special tag or license plate identifying the vehicle as used for farming is not required for it to be considered an agricultural vehicle.
Also note that logging vehicles are taxed at a reduced rate.
There are some vehicles that are exempt from the tax and are not required to file Form 2290. They are
    1. The Federal Government,
    2. The District of Columbia,
    3. A state or local government,
    4. The American National Red Cross,
    5. A nonprofit volunteer fire department, ambulance association, or rescue squad,
    6. An Indian tribal government but only if the vehicle’s use involves the exercise of an essential tribal government function,
    7. A mass transportation authority if it is created under a statute that gives it certain powers normally exercised by the state,
    8. Qualified blood collector vehicles (see below) used by qualified blood collector organizations, or
    9. Mobile machinery that meets the specifications for a chassis
For more information on exempt vehicles, go to irs.gov/trucker.
The IRS has simplified the process of filing Form 2290 and paying your HVUT taxes with the ability to E-File. Anyone who is filing a return with 25 or more vehicles is required to file electronically, but everyone is now encouraged to E-File. Through an IRS Authorized E-File Provider, like ExpressTruckTax.com, 
you can file your Form 2290, pay your HVUT taxes owed to the IRS and receive your Stamped Schedule 1 within minutes. Your Schedule 1 serves as proof of payment for your HVUT and when you file by the August 31, 2012 deadline you will avoid any IRS penalties. Contact our friendly US based customer support center in Rock Hill, SC at 704-234-6005 or email us at support@ExpressTruckTax.com.

How to file a Form 2290 Amendment?

Posted on August 1, 2012 by - federal form 2290, Form 2290, Form 2290 Amendment, Form 2290 for 2012, Heavy vehicle use tax 2290, How to file Form 2290 Amendment, Hvut 2290, irs 2290, Taxable Gross Weight Increase, VIN Corrections

A Form 2290 Amendment is quite simply, an adjustment or modification to the IRS Form 2290 for Heavy Vehicle Use Taxes.
Common reasons to file a Form 2290 amendment include:
1. VIN Corrections – A VIN correction would need to be filed if an error was made on the 2290 when entering the 17 character Vehicle Identification Number
2. Taxable Gross Weight Increase – If a 2290 was filed with an incorrect gross weight listed for the vehicle
3. Mileage Exceeded – If a Form 2290 was filed, as a “Suspended Vehicle” and it exceeded the 5,000 mile threshold
The easiest way to file this form is online through ExpressTruckTax.com. As an IRS approved E-File provider, ExpressTruckTax can E-File a 2290 Amendment in just minutes! You can even file a VIN correction for Free. Simply choose the Form 2290 Amendments option as shown below.
To learn more and get started, you can go to ExpressTruckTax.com and E-File your amendment or contact the Truck Tax Experts at 704.234.6005 or Email at support@expresstrucktax.com.

Trucking Spotlight

Posted on July 31, 2012 by - 2290, Exotic Carriers, Form 2290, HVUT, IRS, KEN, tax, Truck, trucking, Trucking Spotlight, W900L

– Exotic Carriers
– This Clean 2001 KEN W900L is owned and operated by Richy.  Hauling upscale cars in a matching enclosed Kentucky car carrier from coast to coast.  The truck has the nickname: “The Punisher” with a simple mural of a skull with the words “It’s not revenge, it’s punishment.”
We are proud to showcase our clients’ trucks on our blog! If you are one of our clients, please send us a picture and details about your truck and we will be happy to post them here. Thank You!

IRS HVUT Form 2290 Taxes on Truckers

Posted on July 31, 2012 by - 2290 Schedule 1, August 31st Deadline, e-file 2290, Federal Penalties, Form 2290, Heavy vehicle use tax 2290, Hvut 2290, HVUT Exemptions, irs 2290, irs 2290 penalties

According to the U.S. Bureau of Labor Statistics, the demand for truckers is increasing and is expected to continue to increase 10% over the next 10 years. The heavy vehicle use tax or HVUT is a fee assessed annually on these heavy vehicles operating on public highways at registered gross weights equal to or exceeding 55,000 pounds. This tax is paid by filing IRS Form 2290. The current tax period is July 1, 2012-June 30, 2013. The deadline to file for all vehicles used during the month of July is August 31, 2012.
The penalty for not filing the IRS Form 2290 by August 31st is equal to 4.5% of total tax due.  This amount is assessed on a monthly basis up to five months. Those who choose not to make their HVUT payment also face an additional monthly 0.5% of the tax due penalty. Additional interest charges of 0.54% per month accrue as well. Within 5 months of not filing and paying the HVUT tax, the HVUT liability that was originally $550 will be over $700 in IRS tax debt. In addition to the monetary federal penalties, states suspend the registrations of vehicles for which proof of HVUT payment has not been provided. So not only will the taxpayer owe more money, they will also be unable to renew their registrations, so they will be unable to work. HVUT evasion penalties can even be as severe as fines and incarceration.
There are a few instances where a vehicle is exempt from paying the HVUT tax, even if most of those instances; a Form 2290 is required to be filed even if no tax is due. You can find detailed information on the IRS site at www.irs.gov/trucker.
You can e-file your Form 2290 quickly and easily at ExpressTruckTax.com and receive your Schedule 1 within minutes. Your Schedule 1 serves as proof of payment for your HVUT and when you file by the August 31, 2012 deadline you will avoid any IRS penalties. Contact our friendly US based customer support center in Rock Hill, SC at 704-234-6005 or email us at support@ExpressTruckTax.com.

Record keeping Requirements for Registered Heavy Highway Vehicles for Form 2290

Posted on July 30, 2012 by - 2290 form records, 2290 Schedule 1, e-file 2290, First Used month, Form 2290, Form 2290 for 2012, Hvut 2290, irs 2290, IRS audit, suspended vehicles, truck tax 2290, VIN Number

Keep records for all taxable highway vehicles registered in your name for at least 3 years after the date the tax is due or paid, whichever is later. They must be available at all times for inspection by the IRS. Also keep copies of all returns and schedule 1s you have filed. 
Keep your records even if a vehicle is registered in your name for only a portion of a period. If the tax is suspended on a highway motor vehicle for a period because its use on public highways during the period did not exceed 5,000 miles (7,500 miles for agricultural vehicles), the registrant must keep the records at least 3 years after the end of the period to which the suspension applies.
Records for each vehicle should show all of the following information.
1. A detailed description of the vehicle, including the VIN.
2. The weight of loads carried by the vehicle in the same form as required by any state in which the vehicle is registered or required to be registered.
3. The date you acquired the vehicle and the name and address of the person from whom you acquired it.
4. The first month of each period in which a taxable use occurred and any prior month in which the vehicle was used in the period while registered in your name, with proof that the prior use was not a taxable use.
5. The date the vehicle was sold or transferred and the name and address of the purchaser or transferee. If it was not sold, the records must show how and when you disposed of it.
6. If the tax is suspended for a vehicle, keep a record of actual highway mileage. For an agricultural vehicle, keep accurate records of the number of miles it is driven on a farm.
When you E-File your Form 2290 using an IRS Authorized E-File Provider like ExpressTruckTax.com, all your records are stored in your online account. If your records are ever requested by the IRS, you can simply sign into your account and download the requested records.   
In addition to having your records right there at your fingertips, through ExpressTruckTax.com, you can file your Form 2290, pay your HVUT taxes owed to the IRS and receive your Stamped Schedule 1 within minutes. Having the option to E-File makes the annual filing process quick and easy and simplifies the recordkeeping requirements.
If you have any questions, you can contact the Truck Tax Team at 704.234.6005 or email us at support@expresstrucktax.com.

Trucking Spotlight

Posted on July 27, 2012 by - 2290, efile, expresstrucktax, Form 2290, HVUT, New Leaf trucking, Pic, Truck, trucking, Trucking Spotlight

– Tenesa Pickett

– New Leaf Trucking, LLC

– This truck was customized and runs under the name Revelation. 3:21 with the skulls of galgotha on the side. A truck bearing witness to the highways across the U.S

We are proud to showcase our clients’ trucks on our blog! If you are one of our clients, please send us a picture and details about your truck and we will be happy to post them here. Thank You!