Tag: IRS Form 2290

The Most Common IRS Form 2290 Mistakes to Avoid

Posted on March 16, 2021 by - Form 2290

 

There’s nothing worse than having to file your annual truck taxes twice. 

Avoid IRS Form 2290 mistakes this year when you e-file 2290 with ExpressTruckTax.

We’ve got a few tips to make the process as painless as possible and save you from any unnecessary corrections.

Filing IRS Form 2290 before the deadline will save you tons of money, but mistakes could keep you from meeting the Form 2290 due date and cost you a sweet penny.

Avoid frustration and confusion by double-checking some information that commonly delays IRS Form 2290 approval.

The Most Common IRS Form 2290 Mistakes to Avoid

5 Common IRS Form 2290 Mistakes

 Here are some things to be extra cautious about when filing your 2290 Form.

How to Check These Areas For Error

  • 1) EIN (Employer Identification Number) or VIN (Vehicle Identification Number)

A unique EIN is assigned to each company operating in the US as a form of identification for tax purposes. Your EIN should be a string of 9 numbers, presented in this format: 12-3456789.

Since this number looks similar to a social security number, filers often confuse the two, causing the IRS to reject the 2290 Tax Form.

Keep in mind that it takes 10 business days for the IRS to update its database with a new EIN. If you’re applying for a new EIN, do so at least a month before you e-file IRS 2290 to avoid delays.

Your VIN should be 17 characters long and include both numbers and letters. Check your VIN before submitting your 2290 Tax Form. If incorrect, your IRS Form 2290 will be rejected.

The best online tax filing is quick. Don’t waste unnecessary time with mistakes. When you e-file 2290, double-check your Form 2290 and ensure that your EIN and VIN are correct.

  • 2) First Used Month or Filing Year

When filing IRS Form 2290, make sure you use the correct filing year.

Note: If you’ve used an online filing service before, the drop-down menu could be set to a previous 2290 Tax Form file year. Double-check!

Secondly, choose an accurate first used month.

The first used month is the month you first used the truck on the highway during the tax period, which runs from July 1 to June 30 of the next year. Your Truck Tax form is due on the last day of the month after your first used month.

This means if you first used your vehicle in July, as most drivers do during the tax season, then you will need to file your IRS 2290 Tax Form by August 31.

  • 3) Gross Taxable Weight

IRS Form 2290 tax calculations can be tricky, but don’t sweat it. At ExpressTruckTax, our system automatically calculates your owed tax amount. Leave all 2290 tax form math to us.

It’s important to find the best online tax filing service to save yourself time and money. ExpressTruckTax can help!

  • 4) Authorized Signatory Details

It’s super easy to sign your IRS 2290 online. All you need is a 5-digit authorized signature code. Still, no matter how simple it sounds, please just… double-check. 

  • 5) Business Name & Address

You’d be surprised at how many returns are rejected for this information being incorrect!

The wrong business name and address is the most common error on the heavy vehicle use tax form 2290. Don’t let it happen to you!

Double-check your business name and address before submitting your IRS Form 2290.

Why is it so Important to Avoid IRS 2290 Mistakes?

Even the simplest mistake on your IRS Form 2290 can cause serious problems. For starters, your 2290 Tax Form will definitely be rejected by the IRS.

This is a huge time waster and may cause you to miss the HVUT 2290 Tax Form Deadline.

If this happens and you miss the deadline, you’ll need to correct your Form 2290 and file again, attaching an explanation to show reasonable cause for the delay of your heavy vehicle use tax.

There’s no guaranteeing that your statement will be accepted by the IRS, and if it’s not, you’ll face heavy IRS 2290 Tax Form penalties.

The penalty for failing to file IRS Form 2290 by August 31st is 4.5% of the total tax amount owed. Plus, you still have to pay the base HVUT 2290 amount you owe.

In addition, this penalty will increase monthly for up to 5 months, with an additional .54% interest added for each month that it remains unpaid.

Save yourself while you can and double-check your Form 2290 before you e-file 2290 online.

The Best Online Tax Filing Service to Use

ExpressTruckTax makes filing easy. When it comes down to it, we simply don’t believe that filing IRS Form 2290 should be so difficult.

We include an instant error check to help catch any mistakes hidden in your 2290 Tax Form. We also have a US-based customer support team ready to help you every step of the way.

With features like bulk upload, free VIN corrections, and a mobile app, we’re committed to hosting your best filing experience yet.

Sign up for a free account today and you’ll agree that ExpressTruckTax is the best online tax filing option for Form 2290.

File your 2290 now before the IRS shutdown!

Posted on December 15, 2020 by - IRS Shutdown

Attention truckers! If you have still have not filed your 2020-21 Form 2290 or you put a new truck on the road in November 2020, you need to file ASAP!

The IRS will be shutting from December 26 until early January! During that time, they will not be accepting or processing any tax forms. That means if you need a 2290 Stamped Schedule 1, you need to file today!

How to File Quickly

The IRS recommends that you e-file with an approved provider like ExpressTruckTax. Not only is this the most secure way to file Form 2290, but it also allows the IRS to accept and process your 2290 quickly.

In most cases, our clients receive their Stamped Schedule 1 back in a matter of minutes. Plus, with the ExpressGuarantee from ExpressTruckTax, you can rest assured that the IRS will accept your 2290 and you will receive your Schedule 1 or your money back!

If you need any assistance at all, you US-based support team is here to help! Simply call (704) 234-6005, email support@expresstrucktax.com, or go to our website to live chat with us.

10 Things Truckers Need To Know About IRS Form 2290

Posted on November 11, 2020 by - IRS form 2290

 
Time and time again truckers filing their 2290 online tend to ask the same questions and make the same mistakes when it comes to their heavy vehicle use taxes. So let’s go over the most common questions, so they are fresh in your mind when you e-file your 2290.

1. Is my vehicle subject to the HVUT/Form 2290?

You are subject to HVUT/Form 2290 if you are registering a vehicle in your name as an owner-operator or self-employed driver, it weighs more than 55,000 pounds, and you are using it on public roads. The Heavy Vehicle Use Tax applies to both interstate and intrastate drivers.

2. If I am based in Canada or Mexico, does the HVUT apply?

Yes, if you drive your vehicle in the United States. You will need to file a 2290 Form and pay any owed taxes. You will also need to carry proof of tax compliance when entering the U.S. as well.

3. When is the Form 2290 deadline?

IRS Form 2290 returns are due on the last day of the month following your vehicle’s first month of use during the reporting period. That means if your vehicle was on the road last July the deadline for filing is August 31.

If a new vehicle goes into service during the reporting period, you will need to file an additional Form 2290 and pay the tax amount. For example, if you purchased a vehicle in November, you are required to put the vehicle in your name making its first month of use December. In this case, you will need to file an additional Form 2290, and pay owed taxes on or before December 31. This is a partial year filing and will be a reduced tax amount.

4. Can I suspend my Heavy Vehicle Use Tax?

You can apply for a suspension of the Heavy Vehicle Use Tax if you expect to drive your vehicle less than 5,000 miles during the year (7,500 miles for agricultural vehicles).

However, you are still required to file IRS Form 2290 even though you do not have a tax payment. If you do end up driving more than expected, you must file an amendment to your original 2290 and pay taxes.

5. Am I required to file my 2290 Form online?

Only if you have 25 or more qualified vehicles. If you do, the IRS does not require you to file 2290 online. However, the IRS highly encourages all taxpayers to file and pay online with an IRS-authorized e-file provider, like ExpressTruckTax.

6. How can I claim a credit?

Now is the time for you to claim any credits you earned last year. Credits can be claimed using a couple of different methods.

If you ended up driving your vehicle less than 5,000 miles (or 7,500 for agricultural vehicles) you can claim a credit. Or if your vehicle was stolen or destroyed last year, you can also claim a credit. For more information, check out this page.

7. Can I claim a refund on my IRS Form 2290?

Yes, if your credit exceeds your taxes owed on your filing, you will need to file a refund. This can be done by filing IRS Form 8849, Claim for Refund Excise Taxes.

8. What do I need to register my vehicle?

Proof of your HVUT payment is required before you register your vehicles. You will not be registered unless you can provide your stamped Schedule 1.

9. How do I pay 2990 online?

When you file 2290 online with ExpressTruckTax, you can pay via the Electronic Federal Tax Payment System (EFTPS), or by check/money order.

10. Where can I find more information about IRS Form 2290?

You can check out our blog page for more information concerning pre-filing and the upcoming 2290 season. Check out our FAQ page which answers more questions you might have about Form 2290. Or you can find more information via the IRS publication “Instructions for Form 2290.”

We Got Your Back

We understand that we are coming up on a very stressful time for the trucking industry, but we will be there every step of the way. We will continue to supply you with up-to-date information about the IRS Form 2290 deadline.

ExpressTruckTax is a trusted IRS-authorized e-file provider with a simplified step-by-step filing process. We also offer 24/7 support in both English and Spanish to answer any of your questions.

How To Avoid Form 2290 Penalties?

Posted on August 30, 2020 by - Form 2290 Penalties

There is one big secret to avoiding IRS HVUT penalties on your Form 2290: filing on time. 

The 2020 Form 2290 is August 31, 2020. You need to file before midnight on August 31st to avoid 2290 penalties! 

What are the 2290 penalties?

If you miss the deadline, you will incur a penalty equal to 4.5% of the total tax amount you would have owed. Plus, for each additional month, you are late, you will incur another .5% in interest.

That might not sound like much, but don’t forget, failing to have a current stamped Schedule 1 will impact your other licenses. You need a current stamped Schedule 1 to stay up-to-date on most licenses. If you don’t file Form 2290, you could end up being grounded. And if you can’t drive, you can’t make money.

Access our helpful resource to know more about HVUT 2290 penalties.

Here are some Frequently Asked Questions about 2290 Penalties.

File Form 2290 today with ExpressTruckTax in Minutes

Filing with ExpressTruckTax is simple and secure and you can do file from anywhere! Our software is cloud-based and fully compatible with mobile devices.

Plus, if you have filed with us before, our Ready Return feature makes it possible for you to copy the details from a previous return with a single click. 

All your saved business and vehicle information will auto-populate your Form 2290 for 2020 automatically. All you have to do is update your IRS payment information and transmit your return to the IRS. 

And with our ExpressGuarantee, you will receive your stamped Schedule 1 or your money back!

Get Started Now with ExpressTruckTax

Why You Should File Your 2020-2021 Form 2290 With ExpressTruckTax

Posted on July 23, 2020 by - ExpressTruckTax benefits

When it comes to filing the IRS Form 2290, you can either go it alone with a paper form or e-file online with a simplified, interview-style process.

You might think that filing your Form 2290 the old-fashioned way is preferable to e-filing. But you’d be wrong. 

When you file your HVUT return on paper, you are far more likely to make mistakes. You are entirely on your own. You can’t ask anyone questions. There is only the confusing legalese provided by the IRS on Form 2290.

Make your life easier and save yourself time by e-filing your Form 2290 for 2020 online with ExpressTruckTax!

E-filing 2020-2021 Form 2290 with ExpressTruckTax is quick and easy

When you e-file Form 2290 with IRS-authorized e-file provider ExpressTruckTax, you will be asked a series of simple questions. All you have to do is answer those questions and the system will automatically fill out your Form 2290 for you. 

Not having to decipher what the IRS wants from you means you are less likely to make errors and you will save time.

E-filing with ExpressTruckTax gives you an instant audit

Another benefit of e-filing Form 2290 with ExpressTruckTax is that your return will undergo an instant audit before being transmitted to the IRS. The instant audit checks your return for common mistakes that could cause your return to be rejected by the IRS. 

E-filing with ExpressTruckTax gives you a quick stamped Schedule 1

Additionally, when you file Form 2290 on paper, you will likely not hear back from the IRS for several weeks. That means if you made any mistakes and your return is rejected, you may miss your deadline because of it.

When you e-file Form 2290 with ExpressTruckTax, however, the IRS typically accepts or rejects the return within a few minutes. So if you need to make corrections you can do that immediately. 

Also, you will get your stamped 2290 Schedule 1 (proof of payment) back in super quickly. That way, you will never miss your deadline.

E-file Form 2290 with ExpressTruckTax today!

We offer US-based customer support at no additional charge! Get your 2020-21 Form 2290 done in a matter of minutes!

How To Understand The First Use Month On The Form 2290

Posted on February 26, 2020 by - 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. 

Trucker using truck for IRS Form 2290 first use month

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 - 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 - 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”.

ExpressTruckTax for e-filing Form 2290 HVUT.

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.

ExpressTruckTax for e-filing Form 2290 HVUT.

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

ExpressTruckTax for e-filing Form 2290 HVUT.

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

ExpressTruckTax for e-filing Form 2290 HVUT.

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

ExpressTruckTax for e-filing Form 2290 HVUT.

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.

ExpressTruckTax for e-filing Form 2290 HVUT.

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”.

ExpressTruckTax for e-filing Form 2290 HVUT.

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

ExpressTruckTax for e-filing Form 2290 HVUT.

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”.

ExpressTruckTax for e-filing Form 2290 HVUT.

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

ExpressTruckTax for e-filing Form 2290 HVUT.

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”.

ExpressTruckTax for e-filing Form 2290 HVUT.

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!

What You Need to Know About Our New Partnership with CDLLife

Posted on December 31, 2019 by - IRS 2290 e-file

The team at ExpressTruckTax is thrilled to announce our new partnership with trucking news and entertainment provider CDLLife! 

We are now offering our industry-leading HVUT IRS Form 2290 e-filing services to all of their followers through an exclusive landing page. 

Click here to visit the site!

This means, CDLLife users now have a convenient link to our e-filing services! 

CDLLife followers will get the same great rate and they will still get their stamped Schedule 1 within minutes!

The landing page also offers helpful HVUT IRS Form 2290 resources such as FAQs about IRS Form 2290 filing. 

Find helpful information about what you’ll need to file, how much it will cost, and what ExpressTruckTax will do for you!

Give ExpressTruckTax a try today!

Our prices start at just $9.90 for a single truck. E-file your HVUT IRS Form 2290 today!