Tag: hvut

3 Fantastic Tools For Truckers

Posted on June 18, 2020 by Marcela De Vivo - Trucker Taxes

Here at ExpressTruckTax, we understand that trucking is not easy. In addition to long hours on the road, truckers have to keep up with many forms of registration and many different taxes.

There are HVUT, IFTA, IRP, MC, and DOT registrations, just to name a few.

That’s why we have several free mobile apps with solutions for HVUT and IFTA to keep truckers compliant and save them time.

IFTA calculator

Calculating IFTA taxes is one of the most complex things truckers have to do. You have to use all of your miles, and all your fuel purchases to calculate what you owe. You have to know the correct tax rates. You have to know if there are exemptions.

Our free IFTA calculator app takes the guesswork out of IFTA calculations. Simply enter your mileage and fuel and the app takes care of the rest. Figuring out what you owe has never been easier.

Download the IFTA Calculator

HVUT Calculator

Take the guesswork out of your yearly HVUT tax cost with our free HVUT Calculator app. Just input your first use month and gross taxable weight and the HVUT Calculator app will tell you what you owe.

No need to worry about not having enough money to cover your payment. Just calculate ahead of time and start saving!

Download the HVUT Calculator

TruckLogics

TruckLogics is a Trucking Management Software designed to help you keep track of your entire business.

For a small monthly fee, you will be able to track dispatches, invoices, expenses, and much more with real-time reports! TruckLogics even helps with IFTA calculation and has DAT Load Board integration.

And, you’ll get access to the TruckLogics Mobile App at no extra cost! With it, you can manage your business from anywhere!

Download TruckLogics

Give TruckLogics a test drive today! There’s no obligation and no credit card information required.

How You Can File Your Form 2290 In A Single Click

Posted on June 16, 2020 by Marcela De Vivo - 2020 Form 2290

Here at ExpressTruckTax, we want to make sure that you can deal with your heavy vehicle use taxes as quickly as possible! That’s why we offer our “Ready Return” feature.

Ready Return allows those who filed with ExpressTruckTax last year to fill and file their Form 2290 for 2020 in a single click!

Here are two questions to ask before you’ll be able to create a Ready Return.

Did you file Form 2290 with ExpressTruckTax last year?

In order for us to populate your Form 2290 for 2021 automatically for you, we’ll obviously need your information.

The magic of single-click filing is only possible if you filed 2290 with us last year. And unfortunately, we don’t have a time machine (trust us, we’re working on it), but we do have the next best thing.

We have a 2290 e-filing process that only takes a few minutes anyway! Just enter your business details, truck information, and you’re practically done!

Do you have the same truck as last year?

For the easiest filing experience, you’ll need to be using the same truck in the same weight class as last year. That way, we can just copy and paste your information.

However, if a small detail about your truck has changed, you can always edit your Ready Return before filing.

What can we say? We’re nothing if not helpful!

Transmit your 2290 return today!

How To Get Low Mileage Credits For Your HVUT

Posted on June 1, 2020 by Marcela De Vivo - Prior Year Low Mileage / Suspended Vehicles

The 2020 Form 2290 HVUT tax must be paid on all commercial vehicles weighing 55,000 pounds or more that travel 5,000 miles or more (7,500 for agricultural vehicles).

But what happens if you paid your $550 HVUT tax last year and then didn’t drive more than 5,000 miles?

In that case, you will be eligible for a low mileage credit on your HVUT payment! It’s simple to claim a low mileage credit and apply it to this year’s HVUT payment! That way, you won’t owe a dime for the 2020 HVUT!

Keeping reading for more information and instructions for claiming your HVUT low mileage credit!

What is a low mileage credit?

If you own and operate a commercial vehicle, you must file a Form 2290 with the IRS every year. However, if you drive less than 5,000 miles (7,500 miles for agricultural vehicles), you do not have to pay the Heavy Vehicle Use Tax (HVUT).

So, if you do not plan to drive more than 5,000 miles in a given year, you can report that truck as a “Suspended Vehicle”. You will not have to pay the HVUT for that year unless you end up driving more than 5,000 miles.

But what happens if you paid the HVUT but did not drive more than 5,000 miles? In that case, you can claim a low mileage tax credit. If accepted, your tax payment from last year will roll over to this year, so you won’t owe a dime in 2020!

How do I file for a Form 2290 low mileage credit?

Log in to your ExpressTruckTax account.
Click on the Form 8849 Schedule 6.
Choose the ending month of your tax year.
Skip the Sold/Destroyed vehicle section.
Click Add Credit Vehicle in the Low Mileage Credit section and enter all information. You will see your credit come up.
Review your information and pay the ExpressTruckTax filing fee and you’re done!

File your Form 8849 Schedule 6 with ExpressTruckTax today!

We take care of all the hard work! There are no calculations required. Just enter your information and file!

Get ahead of the curve! File your 2020-2021 Form 2290 right now!

Posted on May 18, 2020 by Marcela De Vivo - 2020 Form 2290

We have officially begun accepting Form 2290 tax filings for the 2020-2021 tax season. As in today!

We know the IRS doesn’t start processing HVUT returns until July 1, but we wanted you to be able to get ahead of the crowd this year!

In fact, when you file Form 2290 for 2020-2021 early with ExpressTruckTax, we will automatically submit your return on July 1, so your 2290 will actually be among the first in the door for 2020.

What is IRS Form 2290?

Anyone who owns a commercial motor vehicle with a gross weight of more than 55,000 pounds must file a Form 2290 and pay Heavy Vehicle Use Taxes (HVUT) by August 31, 2020.

Why File Form 2290 Early for 2020-2021 with ExpressTruckTax?

By filing Form 2290 early for 2020-2021, you can avoid the IRS delays that occur during peak filing season in July and August.

Plus, we will automatically transmit your 2290 return when the IRS begins processing the Form 2290 on July 1. And if you choose to pay your HVUT by check or money order, you will not be required to pay their taxes until August 31, 2020.

Learn how you can delay your HVUT payment until August 31 here.

Who is ExpressTruckTax?

ExpressTruckTax provides a secure, interview-style e-filing process so that you can complete your return in a matter of minutes.

We also offer US-based customer support and free Form 2290 VIN Corrections for our clients. Our customer service experts are happy to provide a personalized support experience.

During our ten-year history, ExpressTruckTax has processed over $1.6 billion in excise tax payments. Our e-filing solution is trusted by most of the largest fleets in the nation.

Learn more about e-filing with ExpressTruckTax here.

Ready to file Form 2290 early for the 2020-2021 Tax Period?

What are you waiting for? There’s no reason to wait around deal with your 2020-21 Form 2290 when you could file now. File today with ExpressTruckTax!

Has The Coronavirus Affected The Form 2290 Deadline for 2020-2021?

Posted on May 12, 2020 by Marcela De Vivo - 2020 Form 2290 Deadline, 2020-21 Form 2290

COVID-19 has forced many tax deadlines to be changed. For instance, many jurisdictions have pushed back their IRP renewal and first-quarter IFTA deadlines. Also, the IRS income tax deadline has been changed to July 15, 2020.

So, with so many deadlines being affected by the Coronavirus, has the 2020-2021 HVUT Form 2290 due date been affected yet?

Has the Form 2290 deadline changed for 2020-2021?

In a word, no. You still need to file your 2020-2021 Form 2290 by the typical August 31 deadline.

At this point, there is no reason to expect the HVUT deadline to change, because many states are already beginning the first stages of reopening from Coronavirus shutdowns.

What is Form 2290?

The Form 2290 is used to pay the Heavy Vehicle Use Tax (HVUT) for commercial vehicles that weigh more than 55,000 pounds and which drive more than 5,000 miles per year (7,500 miles for agricultural vehicle).

More information about the Form 2290 here.

When is Form 2290 due?

HVUT payments are due 1 month after the first month you first start using your vehicle.

What deadlines have changed for 2020?

So far the IRS income tax deadline has been changed to July 15, 2020.

Many IRP deadlines have been changed.

Many IFTA deadlines have been changed.

The UCR deadline has been changed to July 1, 2020.

File your Form 2290 with ExpressTruckTax!

Pay Your HVUT Your Way On Your Time

Posted on May 1, 2020 by Marcela De Vivo - IRS 2290 payment

You’ve taken the time to e file, before the start of the 2020 Form 2290 tax season, now you are wondering what comes next. We have worked alongside the IRS for years to ensure you always come out on top. ExpressTruckTax allows you to pay your Heavy Vehicle Use Tax, also known as HVUT 2020, the way you want. It’s your money, so who are we to tell you how to use it?

Payments We Accept

ExpressTruckTax accepts HVUT 2020 payments via credit card, debit card, direct debit, electronic funds withdrawal (EFW), Electronic Federal Tax Payment System – EFTPS online, or by check/money order. Making your IRS 2290 payment is easy with ExpressTruckTax. There are options for your IRS 2290 payment that aren’t offered everywhere, so having us in your corner this year is the correct way to e file 2290.

Direct Debit or Electronic Funds Withdrawal (EFW)

When you use this method you are authorizing the IRS to debit your owed amount from your account. This method requires you to provide your bank account number and routing.

It is important to double-check the account information to avoid possible penalties for late payment. The IRS typically debits accounts within 24-48 hours, so double-check the amount in your account to avoid your payment being declined.

Electronic Federal Tax Payment System (EFTPS)

ExpressTruckTax clients can pay 2290 online with the Electronic Federal Tax Payment System (EFTPS). EFTPS online is a system of paying federal taxes electronically using the Internet or phone. EFTPS online allows users to schedule payments, in advance. When this method is selected you will automatically be directed to the EFTPS online website. It can take up to 10 business days to create an account, so for those choosing to wait until the last minute this method may not be the best idea.

Check or Money Order

If choosing to make an IRS 2290 payment with a check or money order there is a certain procedure you will have to follow and pay close attention to. We’ve listed the steps for your HVUT 2020 convenience:

Make your check or money order payable to the United States Treasury. Write your name, address, EIN, ‘IRS Form 2290’, and date (as entered in box 3) on your payment.

Detach your 2290-V and send it with your payment. If you filed electronically, do not submit your Form 2290 or stamped Schedule 1 with your payment voucher. (*Do not staple your payment voucher, payment, or Form 2290 together.)

Send your payment and the 2290-V voucher to: Internal Revenue Service,
P.O. Box 804525,
Cincinnati, OH 45280-4525

We Got You Covered

Whether you choose to make an online payment for your HVUT 2020 using EFTPS online, pay 2290 with credit card or debit card, go the direct debit route, try the Electronic Funds Withdrawal payment method, or choose the classic check or money order method, ExpressTruckTax has you covered.

When you choose to file your 2020 Heavy Vehicle Use Tax Form, HVUT 2020, before July 1st you make the wisest decision for your time and money. Our goal is to save you money and support you while you do what you love. The half-million clients that file with ExpressTruckTax can tell you just how much we put you and your family’s needs high on our priority list.

Ready to file your 2290?

Transferring Your 2290 to a New Vehicle

Posted on March 29, 2020 by Marcela De Vivo - Form 2290, Form 8849, HVUT, Schedule 1

Do you need to transfer your 2290 in a hurry? If you swapped vehicles or purchased a new one last month, then the answer is yes!

Vehicles first used in one month have a 2290 filing deadline at the end of the next month!

Even though that’s no time at all, it’s still plenty of time to transfer your 2290.

That’s because it only takes about 10 minutes to E-file a Form 2290. So if you’ve recently swapped vehicles, it’s time to get in gear and get yourself E-filed before the deadline.

Here’s the Game Plan:

1. E-file a new Form 2290
2. Claim a Credit Vehicle on that form
3. Receive your new Stamped Schedule 1 via email instantly

That’s all it takes to “transfer” your 2290 from your old vehicle to the new one. Want to see it step-by-step? I thought so, here’s the Play-by-Play.

1: Login or create an account (it’s free!). If you’re new to ExpressTruckTax, quickly enter your name, business info, and EIN before you begin E-filing. Finally, click “Start New Return,” choose a Form 2290, and then enter your first-used month (the month in which you purchased the new vehicle).

2: Now to enter your taxable vehicle information (for the new truck). Simply input the VIN, gross weight, and select whether the vehicle is used for logging. Save and then skip the next few screens.

Step 3: It’s time to enter your Credit Vehicle. This is how you receive a prorated refund on the HVUT tax previously paid. Click +Add a Credit Vehicle, enter the VIN & gross weight, then enter details of the “loss event.” This means choosing the date on which the vehicle was sold, lost, or destroyed, as well as uploading any required evidence, like a bill of sale. And that’s it. Simply input your payment method, and then hit the big green Transmit button. Within about 10 minutes, the IRS will have reviewed you return, and if it’s accepted (98% of returns E-filed with us are!), then you’ll receive your new stamped Schedule 1 via email immediately.

Bonus Tips: More Ways to Save

If your previous truck was sold, stolen, or destroyed, and you are choosing not to replace it, then you can still get a prorated refund of the HVUT you paid! The procedure is different from the “transfer” process. To claim a prorated refund in this case, simply E-file a Form 8849. We offer easy E-filing of this form too, check out these tips on how to file your 8849 fast.
If your business name or EIN has changed, then you can also get a prorated refund for the taxes paid under the previous name/EIN. Just E-file a new Form 2290 for all vehicles under this new name or EIN. Then E-file a Form 8849 under the old name/EIN to get some of those tax bucks back.

Ready to transfer?

Still have questions about transferring your 2290 or claiming your refund?

That’s what our Support Team is for! They’re ready to lend a helping hand to E-filers in distress, 24/7.

Call them at 704.234.6005 or shoot them an email 24/7 at support@expresstrucktax.com.

They’ll help you cross the E-filing Finish Line before the deadline, guaranteed.

How To Understand The First Use Month On The Form 2290

Posted on February 26, 2020 by Marcela De Vivo - First Used month

The IRS Form 2290 (otherwise known as the Heavy Vehicle Use Tax or HVUT), like all federal tax forms, can be very confusing to understand and file correctly.

For instance, the yearly Form 2290 filing season begins on July 1, and ends on June 30 and the final deadline to file Form 2290 is August 31.

But if you purchased and started using a new truck at any point this year, the Form 2290 due date for that new truck would be the end of the month after you started using it.

Let’s cover how the HVUT 2290 tax works.

What is the 2290 tax?

The Heavy Vehicle Use Tax (HVUT) helps fund infrastructure maintenance across the United States.

HVUT 2290 filing is a requirement for all vehicles weighing more than 55,000 pounds that drive 5,000 or more miles a year.

This includes specialized heavy vehicles like big rigs and commercial coaches that put more stress on roadways than regular motor vehicles.

IRS form 2290 first use month

In the simplest terms, the first use month policy means that if you started using a new truck in January of 2020, your Form 2290 due date would be February 28, 2020. And if you starting using a truck in September, your Form 2290 due date would be October, 31.

Obviously, if you bought a new truck and didn’t actually start using it on public highways, you would not need to file your 2290 yet. You would wait until the end of the month after you actually began using it.

What this means is that your Form 2290 due date will probably be different than that of many other drivers.

But since the 2290 HVUT calendar year runs from July 30 through July 1, many drivers start using their trucks in July and their Form 2290 due date is August, 31.

File your 2290 today!

With ExpressTruckTax, the 2290 filing process is simple, affordable, and you get your Stamped Schedule 1 in minutes!

This Is What Actually Happens If You Don’t File IRS 2290

Posted on February 6, 2020 by Marcela De Vivo - 2290 deadline, Hvut 2290, irs 2290, IRS form 2290

The IRS Form 2290 deadline is creeping up.

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.

File your IRS 2290 today!

How To File Your Form 2290 With ExpressTruckTax

Posted on January 22, 2020 by Marcela De Vivo - 2290 tax form

Filing the IRS Form 2290 is a necessity for every trucker.

Otherwise known as the Heavy Vehicle Use Tax (HVUT), truckers must file it every year.

The quickest way to e-file your Form 2290 and receive your stamped Schedule 1 is to use ExpressTruckTax.

The whole process takes only a few minutes and in this blog we’ll walk you through every single step.

How to file your 2290

1. Go to https://secure.expresstrucktax.com/User/Register. Create an account.

ExpressTruckTax for e-filing Form 2290 HVUT.

2. You will see the ExpressTruckTax welcome screen. Feel free to watch the video. Click “Begin”.

3. Enter all necessary business information indicated by red asterisks. If you work for a company that has asked you to provide a 2290, do not use their information. Use your own information. This information will be used to automatically fill out your Form 2290 when it is transmitted to the IRS. Click “Continue” when you are finished.

4. You will be taken to the Dashboard. Click “Start New Return”.

5. In this example, we will file for just 1 truck. But you can file for multiple trucks. Click “E-File For 1 Truck”.

6. Enter all necessary truck information indicated by red asterisks.

7. Scroll down. You will see your Tax Due. Select your payment method. We highly recommend using the Electronic Funds Withdrawal (EFW) option, this option lets you include your bank account and routing number on your return, that information is provided with your return directly to the IRS, they will then debit your account the taxes due up to 2 business days later. With the other options, there are additional steps. You must follow up with the IRS to pay the taxes due.

8. Scroll down. If you wish to have a third-party tax service handle any of your tax information, give them permission here. Click “Next”.

9. ExpressTruckTax will check for any errors in your return. Check all your information one last time. Click “Next”.

10. We recommend getting a Schedule 1 copy for your truck cab and also getting a text notification or fax when the IRS approves your Schedule 1. Click “Next”.

11. On this page, you will pay ExpressTruckTax. Enter all credit card information and click “Process”.

12. Scroll down. Enter a 5 digit pin to verify that you are a real customer with the system. Click “Transmit this Return to the IRS”.

13. You’re all set! If you selected a tax due payment option other than EFW, be sure to make your payment.

File your Form 2290 today!

If this seems complicated, talk to our friends over at ExpressTruckTax Plus! They will fill out your Form 2290 for you and deal with the IRS on your behalf! Plus, their service fee is tax-deductible!