Author: Santamarina Joseph

Organizing IFTA Fuel Tax Information with Express Truck Tax

The term IFTA refers to the International Fuel Tax Agreement. This agreement makes certain vehicles liable for a Fuel Tax for each state in which the vehicle was driven. IFTA is a tax collection agreement among the 48 contiguous United States and the 10 Canadian Provinces bordering the US.

Recording and Organizing the information required is a very precise and exacting task, but thanks to Express Truck Tax, there is now a much simpler web-based process. Vehicles required to prepare an IFTA return must keep track of miles traveled and fuel purchased within each state or province. Due to the complicated task of keeping accurate records, and filing this form appropriately many less than fortunate drivers receive IRS audits because information on their IFTA return was not properly entered.

As mentioned earlier, Express Truck Tax, along with providing a terrific service for other Truck Tax needs IRS Form 2290, will perform an internal audit of your information for you. In this internal audit performed by Express Truck Tax, it will check for basic mistakes and discrepancies, as well as perform a state adjacency check and an abnormal MPG audit. They also provide online trip sheets for drivers to keep accurate records that can be accessed from any computer, anywhere!  If you can prevent an IRS audit due to simple mistakes on an IFTA return, it makes no sense not to. Let Express Truck Tax help get it right the first time.

IRS Interim Regulations for Filing Heavy Vehicle Use Tax(Form 2290)

For those who are heavily involved in the Trucking and Transportation Industry, it may not be a surprise that this tax year has so far been less than normal as far as Heavy Vehicle Use Tax is concerned.  
 
A Federal Register notice was posted on July 20th, this newly imposed final and temporary regulations by stating that Form 2290 taxpayers should not file before November 1, 2011. The new regulation also added that the IRS will not be providing receipted Schedule 1 forms before the 1st of November.

It is unclear what the future holds for HVUT. Many speculate that there will simply be a delay in the filing season, but the bill has yet to be voted on at this point. If Congress does not change the law, the tax will expire by September 30th, but it seems unlikely that the government would let a tax like this one simply expire. Current regulations have set a tax for July 1, 2011, until Sept. 30, 2011. If Congress neglects to act on this Truck Tax regulation, taxpayers will only be liable for the “short taxable period” (July – September) and would be required to file by Nov. 30. However, if Congress extends the tax past Sept. 30, anyone who files for the “short taxable period” will also be liable for a second Form 2290 for what remains of the 2011-2012 tax year.

For vehicles that need to be registered during Jul-Oct of 2011, the state DMV’s are required to accept a Stamped Schedule 1 from the previous year since it is not possible to receive a stamped Schedule 1 until November 2011. If a vehicle was acquired within the current 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.

Luckily, once the Form 2290 is available, ExpressTruckTax.com will be able to E-File the form and send it to the IRS in minutes. 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.

How to E-File IRS Form 2290(HVUT) and receive a stamped Schedule 1?

The Process of Filing IRS Form 2290 and getting a stamped Schedule 1 can be rather complicated. Especially now that the IRS has delayed the filing dates to November of 2011.


A Stamped Schedule 1 is required in order to register a vehicle. So it can be very stressful to wait until the last minute to register your vehicle because you are waiting for the IRS to send you a stamped schedule 1. (For vehicles that need to be registered during Jul-Oct of 2011, the state DMV’s are required to accept a Stamped Schedule 1 from the previous year since it is not possible to receive a stamped Schedule 1 until November 2011)

Although these are the traditional ways of getting a Stamped Schedule 1, an easier way has come about in the past few years. E-Filing has become more and more practical as well as more efficient. An IRS-Authorized provider of this service is www.ExpressTruckTax.com.  Instead of waiting for hours or up to 6 weeks for the IRS to stamp your schedule 1, Express Truck Tax will get your stamped Schedule 1 in minutes. When you log on to the site, you can enter the information for the Form 2290, and Express Truck Tax will then automatically create a Schedule 1 based on that information. That form will be sent to the IRS electronically, and they will then send the stamped Schedule 1 back to Express Truck Tax, who will then automatically send an email notification of the file to the taxpayer. This document can also be faxed as well as emailed to the taxpayer as soon as the IRS processes the form. There are even options to receive a notification via text message. The form will be transmitted with a watermark as well as an IRS E-File logo since the document will not be physically stamped.

Three Month Extension of IRS Form 2290(HVUT) – Now Due on Nov. 30, 2011

The IRS recently advised those in the transportation industry with heavy highway vehicles that their next federal highway use tax return will be due on November 30, 2011, instead of the typical due date of August 31st.

The current highway use tax is scheduled to expire on September 30, 2011. The proposed temporary regulations dictate that the November 30th filing deadline for Form 2290 HVUT Return for the tax period that begins on July 1, 2011, applies to vehicles used during July, as well as those first used during August or September. The IRS also states that returns should not be filed and payments should not be made before Nov. 1. This extension is designed to reduce confusion and possible multiple filings that could result if Congress reinstates or modifies the tax after that date.

For those in the transportation industry who need to apply for state vehicle registration on or before November 30th, the new regulations require states to accept the stamped Schedule 1 of the Form 2290 issued by the IRS for the previous tax year, ending on June 30, 2011 as a proof of payment. Federal Law requires that state governments receive proof of payment of the federal highway use tax as a condition of vehicle registration. Typically, after the return is filed and the tax is paid, the taxpayer receives a stamped Schedule 1 to use when registering the vehicle.

If someone needs to register a newly acquired vehicle during the July-to-November period, the new regulations require a state to register the vehicle, without proof that the highway use tax was paid, as long as the person registering the vehicle presents a copy of the bill of sale or another document showing that the owner purchased the vehicle within the previous 150 days.

The heavy vehicle use tax applies to trucks, truck tractors and buses with a taxable gross weight of 55,000 pounds or more. Vehicles such as vans, pick-ups and panel trucks are typically not taxable because they fall below the 55,000-pound requirement.

Although the IRS discourages filing until November 1, 2011, the good folks at Express Truck Tax are willing to help you every step of the way!  If you have any questions regarding Truck Taxes, and how to file them, feel free to chat with their experts at (704) 234-6005.  You can also email them at support@ExpressTruckTax.com.  For more information about Truck Taxes, check out their Website and Blog: ExpressTruckTax.com

What You Need to File Internal Revenue Service Form 2290 Online(HVUT)

To file the IRS Form 2290 for Heavy Vehicle Use Tax, there are a few key pieces of information you will need to know in order to receive a stamped Schedule 1 from the IRS. First and foremost, you should have an idea as to the number of miles driven by each vehicle, because if a vehicle was driven less than 5,000 miles (or 7,500 miles if agricultural) then it would technically be considered to be a credit vehicle. Other information that is key to filing Form 2290 is your Employee Identification Number (EIN), Vehicle Identification Number (VIN), and the taxable gross weight of the vehicle.

The Employee Identification Number is a required section of the Form 2290. This is a number that is unique to you, and the IRS uses it to identify a business entity. If you do not have an EIN, you can apply for one through the IRS website.  

Another necessary part of the Form 2290 is, of course, the Vehicle Identification Number. Every vehicle is required to have a VIN, which is a 17 character combination of numbers and letters.  This information can typically be found on the registration or title of the vehicle. In order to know how much tax is to be paid, you must also report the Taxable Gross Weight of the vehicle. This can be found by adding the following totals: unloaded weight of the vehicle fully equipped for service, unloaded weight of any trailers equipped for service and customarily used in combination with the vehicle, and the weight of the maximum load customarily carried on the vehicle and on any trailers customarily used in combination with the vehicle.

Once this information is obtained, the best way to file the Form 2290 is by using an IRS-approved E-File provider like ExpressTruckTax.com. Filing this form online is a much better option than mailing it in, or waiting in line at the IRS office. Filing Online through the secure servers of Express Truck Tax is safer than sending important tax documents via postal mail.  It is also much quicker. The IRS typically processes each return and sends it back to you in a matter of minutes. This helps you stay focused on what matters to you, not on endless paperwork, or long lines at the IRS office.

Why you need to file IRS Form 2290(Federal Heavy Vehicle Use Tax Return)

To file your HVUT 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 the prior 3 years 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 fist 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.

Express Truck Tax is Your All-In-One Provider of U.S Federal Tax Forms 2290 and 8849

ExpressTruckTax.com has everything you need to to file your truck taxes online so that you can keep on rolling. It is packed with all sorts of features that benefit Owner Operators, Trucking Companies, and other service providers filing HVUT.

One of the most commonly filed IRS forms among those in the Trucking Industry is the IRS Form 2290, and its accompanying Schedule 1. With Express Truck tax, you can easily file this IRS form online in minutes, and for as little as $9.90, it is the most attractive price in the industry.  

After filing Form 2290 with the IRS through Express Truck Tax, the person filing will receive Free Fax and Email Notifications to let them know that the Schedule 1 is ready. Express Truck Tax also offers optional Text Message reminders as well. Once the IRS processes the Return, you will be notified so that you can print your stamped schedule 1. Express Truck Tax can also notify your contracting (leasing) company to let them know that your payment has been made.

When creating your Form 2290 online, Express Truck Tax will automatically create a Form 8849 for credits. There is also the option to upload an Excel Template for a multiple vehicle filing.  You can file for only 1 truck or up to 40,000 vehicles with our Enterprise Filing!  Express Truck Tax also offers flexible pricing plans to fit any fleet. Tax professionals and CPAs also receive custom discounted pricing to file for many of their clients.  

The customer service does not stop once the form is filed. Express Truck Tax also offers Free VIN corrections so that no one is penalized for a simple typo. There is also the ability to amend a previously filed Form 2290 through the service. For any questions about the service, Express Truck Tax offers unlimited, USA-based customer support via email, chat, and phone. Simply email support@ExpressTruckTax.com, call 704-234-6005, or go to ExpressTruckTax.com to live chat with the excellent customer support professionals.  

You can file your Form 2290 (HVUT) in just minutes via self-service, file by phone and full service, meaning you can register and file yourself, or have us take care of the filing. Either way, this easy-to-use software will save you time and money. Express2290.com was built by one of the most talented teams in the industry—no one has more experience in HVUT E-Filing!

Get started today at ExpressTruckTax.com. Email us at support@expressexcise.com or call 704-234-6005.

Express2290.com, Express8849.com, ExpressExcise.com, and ExpressExtension.com, are part of ExpressTaxZone.com line of tax products.

Changes for Heavy Vehicle Use Tax (HVUT) and IRS Form 2290 as of July 1, 2011

As of July 1, 2011, the process of filing a Form 2290 for Heavy Vehicle Use Tax has changed dramatically as a result of new legislation not being passed by Congress. These new regulations affect tax service providers, trucking companies, and owner operators of highway motor vehicles with a taxable gross weight of 55,000 pounds or more.

Heavy Vehicle Use Tax form 2290 – Overview
The
Form 2290 imposes an excise tax on certain highway motor vehicles (26 CFR Part 41) under section 4481 of the Internal Revenue Code. Section 4481 imposes an excise tax on the use in any taxable period of a highway motor vehicle with a taxable gross weight of 55,000 pounds or more. The person to whom the vehicle is registered at the time of the first use for the year must pay the tax. The amount of the tax is based on the gross weight of the vehicle with a maximum of $550 per vehicle per taxable period. The tax period begins on July 1 and ends on June 30th of the following year.

However,
for the taxable period beginning on July 1, 2011, section 4482(c)(4) of the present law states that the taxable period ends as of September 30, 2011 instead of the typical June 30th deadline. For this three month period, the tax has been reduced to 25 percent of the tax rate for a 12-month period. Section 41.6011(a)–1(a)(1) requires each person liable for the tax imposed by section 4481 to file a return for each taxable period. Section 41.6011(a)–1(b) provides that the return is in Form 2290, (Heavy Highway Vehicle Use Tax Return).

A
Form 2290 must generally be filed by the last day of the month following the month in which someone first becomes liable for tax. For most taxpayers, their first use of a vehicle in a taxable period occurs in July and thus their return is due by August 31st. This is because July is the first month of the tax period, and if a vehicle was registered in the previous year, July is the first month of the current year. Section 41.6001–2(b) explains that when a state that receives an application to register a highway motor vehicle, they must receive a ‘‘proof of payment” of the tax imposed by section 4481(a). This proof of payment typically consists of a receipted Schedule 1 (Form 2290) that is returned by the IRS to a taxpayer that files the form 2290 and pays the amount of tax due with the return.

The
taxpayer registering the vehicle must present proof of payment for the taxable period that includes the date on which the application for registration is filed. In the case of an application filed in July, August, or September of this year, the proof of payment for the preceding taxable period may be used. The tax imposed under section 4481 will expire on September 30, 2011, unless Congress changes the law. Under existing regulations, the person liable for the tax must file a Form 2290 by the last day of the month after the month that the person first becomes liable for the tax.  Current statutory and regulatory provisions require the person liable for the tax to file a Form 2290 for taxable use during the period of July 1, 2011, through September 30, 2011. Also, if Congress extends the tax past September 30, 2011, anyone who filed a Form 2290 for the short taxable period of 2011 would have to file a second Form 2290 covering the period after September 30, 2011, until either the expiration date of the extension or June 30, 2012 (whichever comes first).

Extension of Form 2290 HVUT Due Date

In order to provide a more efficient tax administration and alleviate taxpayers’ potential administrative burden, temporary regulations have postponed the due date of Form 2290 for the 2011 short
taxable period until November 30, 2011. If Congress does not extend the tax past September 30, 2011, taxpayers will file one Form 2290 and will pay the reduced amount for the 2011 short taxable period by November 30.  If Congress does extend the tax past September 30, 2011, and substitutes a longer taxable period for the 2011 short taxable period, taxpayers who become liable for the highway use tax after June 30, 2011, and before November 1, 2011, a will file Form 2290 for the period July 1, 2011—June 30, 2012 (or the end of the new taxable period, if earlier), by November 30, 2011. In either case, most taxpayers will have to file only one return for the taxable period beginning July 1, 2011.

Temporary regulations suggest that taxpayers should file a
Form 2290 no earlier than November 1, 2011 for taxable use during the 2011 short taxable period. The IRS will not provide a receipted Schedule 1 for a return and accept associated payment for the taxable period beginning July 1, 2011, before November 1, 2011.

Temporary Regulations for Proof of Payment for DMV registration
Special rule for registration after June 30, 2011, and before December 1, 2011.
For the period between July 1, 2011, and November 30, 2011, a State must register a
highway motor vehicle without proof of payment if the person registering the vehicle presents the original or a photocopy of a bill of sale or another document proving ownership indicating that the vehicle was acquired by the owner either as a new or used vehicle during the preceding 150 days before the date that the state receives the application for registration of the vehicle, and the vehicle has not been registered in any state subsequent to such date of purchase.

Substitute proof of payment for the taxable period beginning July 1, 2011.
A state shall accept a
2290 Schedule 1 for the previous taxable period as a substitute for proof of payment.

Temporary Regulations-  filing dates
In the case of a
highway motor vehicle that incurs a  taxable use during the period July 1, 2011 through September 30, 2011, the person liable for the tax must file a return no later than November 30, 2011. The return should be filed no earlier than November 1, 2011. If the return is filed and payment is submitted before November 1, 2011, the IRS will not provide a receipted Schedule 1 (Form 2290, ”Heavy Highway Vehicle Use Tax Return”) as proof of payment until after November 1, 2011, and will provide the receipted Schedule 1 only if the full amount of the tax for the 2011 taxable period has been paid.

Trucking Companies, contractors, service providers, or individual owner operators who need to get a Form 2290 schedule 1 for previous tax years can contact the IRS, or file form 2290 online through an IRS authorized
E-File provider such as ExpressTruckTax.com. For more information on heavy vehicle use tax, you can call the good folks at Express Truck Tax at 704-234-6005 or email at support@ExpressTruckTax.com

Federal Highway Use Tax Form 2290 – Credit Vehicles

In certain situations, one can actually claim a credit for a vehicle using the IRS Form 2290 (Heavy Vehicle Use Tax). The simplest, quickest, and safest way to file this form is through ExpressTruckTax.com, an authorized IRS E-file Provider of this form.

If a heavy vehicle was stolen, destroyed, or sold before June 1st and not used during the rest of the year, it qualifies as a credit vehicle. Another qualification for Credit Vehicles is if a heavy vehicle was used for 5,000 miles or less, or an agricultural vehicle that was used for 7,500 miles or less. Another significant qualification is that a credit, lower tax rate, exemption, or refund is not allowed for an occasional light or decreased load; neither is it allowed for a discontinued or changed use of the vehicle.

Even though the qualifications for credit vehicles can be complicated and confusing, ExpressTruckTax.com helps make this process simple. The filing process only takes a few minutes. If you need any help, the dedicated customer support team can help walk you through the process in minutes.

File a Federal Highway Use Tax Form 2290 VIN Correction for Free!

To err is human, and the folks at Express Truck Tax understand this. Unfortunately, sometimes mistakes are even made on important documents like Tax Returns. If you wer unfortunate enough to incorrectly enter your VIN number when filing your Heavy Vehicle Use Taxes with IRS Form 2290, there is still hope for you!  Thanks to Express Truck Tax, you can Electronically File an IRS Form 2290 VIN Correction at no charge!

This is an exclusive offer from Express Truck Tax that no other HVUT E-File provider is offering. This filing process only takes a few minutes and the best part of it all is that it is also absolutely FREE. Express Truck Tax allows anyone to correct a VIN Number for any previously filed IRS Form 2290. The person filing the form will receive a new IRS-Stamped Schedule 1 in only a few minutes.  

Because of this speedy service, drivers, owner operators, and trucking companies will be able to get their truck taxes taken care of quickly, so that they can get back on the road in no time!  Express Truck Tax realizes that time on the road is valuable and that people need to spend as little time as possible worrying about the little details.  That’s why Express Truck Tax is making this process much simpler for those in the Trucking Industry who file HVUT.