Category: 2290 penalties

File Form 2290 Today August 31st to Avoid Penalties from the IRS!

Posted on August 31, 2022 by Marcela De Vivo - 2290 penalties, Avoid IRS penalties, Form 2290 deadline today, HVUT Filing deadline today

The Form 2290 deadline is officially here. Have you filed your Form 2290 yet? If not, there are some important things you must know.

What is Form 2290?

Form 2290 is an IRS tax form that is filed by drivers of vehicles weighing 55,000 pounds or more for the Heavy Vehicle Use Tax (HVUT).

Why is Form 2290 Important?

By filing Form 2290 to the IRS you will receive a Stamped Schedule 1. This is used to get the tags and registration for your vehicle.

When is Form 2290 Due?

When filing Form 2290 it is important to know that the Form 2290 tax year goes from July 1st to June 30th of the following year. A vehicle’s Stamped Schedule 1 expires on June 30th, so as of July 1st drivers no longer have a current Stamped Schedule 1. It is important to File Form 2290 for July as the beginning of the upcoming tax year and you have until August 31st to pay the HVUT to the IRS. If you fail to file Form 2290 and/or pay the HVUT by August 31st you are considered late.

What happens if you Fail to File Form 2290 or Pay the HVUT?

If Form 2290 is filed late or the tax is not paid by the August 31st deadline, drivers will be charged late fines, and the fine for not filing Form 2290 actually comes out to be greater than the fine for not paying the HVUT.

For every month the Form 2290 due date is missed there will be a fine of 4.5% of the total tax due for up to five months. If there is underpayment for the Heavy Vehicle Use Tax, there will be a penalty of 0.5% of the tax due. Additional interest charges of 0.54% will be added each month that Form 2290 is not filed. This is why it is important to not only file Form 2290 but pay the Heavy Vehicle Use Tax as well.

Why E-File with ExpressTruckTax?

Why risk being penalized for either forgetting to file Form 2290 or pay the HVUT when you can file with an easy-to-use Form 2290 e-file provider like ExpressTruckTax. With ExpressTruckTax simply enter your business information, vehicle information, and payment information. To make sure you get your Form 2290 filed and your HVUT paid at the same time, ExpressTruckTax now offers an option where you can pay both your HVUT and your filing fee at the same time. This way you will not risk being late with either.

Today is the last day to file, the August 31st, 2022 deadline. What are you waiting for? File with ExpressTruckTax today and avoid getting fined or penalized!

Guía Útil Para Evitar Penalidades del Formulario 2290

Posted on August 23, 2022 by Marcela De Vivo - 2290 Late Filing Penalties, 2290 penalties, 2290 penalty, Avoid IRS penalties, Form 2290 2022-23

¿Alguna vez lo han penalizado por atrasarse con su Formulario 2290 (hecho para vehículos que pesan 55,000 libras o más), sus pagos de impuestos sobre el uso de vehículos pesados, o lo atraparon sin un Anexo 1 sellado? Si esto no le ha sucedido a usted, aún es esencial asegurarse de que no suceda. En esta guía, encontrará información útil para evitar penalidades del IRS con respecto al Formulario 2290.

Conozca Su Primer Mes de Uso

Al hacer el Formulario 2290 es importante saber el Primer Mes de Uso (FUM en Inglés) de su vehículo. El FUM de un vehículo está determinado por el mes en que se puso en circulación por primera vez. Cuando se presenta el Formulario 2290, se debe incluir el primer mes utilizado y tiene hasta el final de ese mes para presentar el Formulario 2290 ante el IRS. Sin embargo, tiene hasta el final del próximo mes para realizar el pago de impuestos. Por ejemplo, si su primer mes de uso es en Octubre, tiene hasta finales de Noviembre para realizar el pago de impuestos al IRS. Esto se aplica a los vehículos que han estado en la carretera por menos de un año.

Para los vehículos que han estado en circulación durante más de un año o que se pondrán en circulación por primera vez en julio, el primer mes usado del vehículo es julio y el pago de impuestos vence el 31 de agosto.

Declare Ahora Pague Después

El Anexo 1 sellado es importante porque le permite obtener las placas y el registro de un vehículo. Una vez que se presente el Formulario 2290, obtendrá un Anexo 1 sellado como prueba de presentación. Esto significa que puede evitar penalidades fácilmente haciendo el Formulario 2290 y si aún no tiene el dinero para pagar el impuesto, puede esperar hasta la fecha límite para declarar. De esta manera, si olvida pagar el impuesto antes de la fecha límite, aún tendrá un Anexo 1 sellado y, si lo multan, será mucho menos de lo que hubiera sido si no hubiera declarado nada.

Pague Cuando Presente

Otra opción que puede ayudarlo a evitar penalidades es pagar el impuesto HVUT al mismo tiempo que presenta su declaración. Haga su Formulario 2290 y pague su tarifa de presentación e impuestos para eliminarlos a la vez. De esta manera, no solo obtiene su Anexo 1 sellado, sino que también paga sus impuestos y no se olvidará de pagarlos más adelante.

Haga su Declaración con ExpressTruckTax

Al hacer su declaración con ExpressTruckTax, tiene la opción de hacerlo ahora o pagar cuando presente la declaración. Está diseñado para ser fácil de usar con muchas opciones convenientes que hacen que su experiencia de archivo sea muy fácil y sencilla. Asegúrese de mantenerse al tanto de cuándo es la fecha límite para presentar la solicitud. Cuando se registre y presente una declaración en ExpressTruckTax, nos aseguraremos de recordarle cuándo es el momento de presentarla para que no se le escape la fecha límite. La función formulario-listo también está disponible para los contribuyentes que regresan. Inicie su sesión y podrá usar toda la información que hizo en su último formulario para generar su Formulario 2290 y presentarlo rápidamente. ¿Qué estás esperando? ¡Aproveche estas increíbles funciones disponibles con ExpressTruckTax y hágalo hoy mismo antes de la fecha límite del 31 de Agosto!

Forget to File Form 2290? You’re Going to Face Penalties!

Posted on August 16, 2017 by Marcela De Vivo - 2290, 2290 failure to file fees, 2290 penalties, 2290 Schedule 1, 2290 stamped Schedule 1, e-file 2290, E-file HVUT, Filing 2290 late, HVUT, Late 2290, Late HVUT fees, Late HVUT payment, phone file 2290

The clock is seriously ticking! Every time a moment passes then we are getting even closer to the

Heavy Vehicle Use Tax (HVUT) deadline on August 31st. You still have about two weeks to file, but don’t wait. You should still file as soon as you can.

If you run into errors and your form gets rejected then you will be responsible for correcting your form and retransmitting it by the deadline. If your Form 2290 or HVUT payment is late you will have a few penalties to face.

HVUT Penalties

You may not receive a penalty for filing your return or paying the amount of HVUT tax you owe by the deadline if you are able to show reasonable cause for not filing or paying on time. If your file after the deadline be sure to attach an explanation to your return to show reasonable cause. The reasonable cause may then be accepted or rejected by the IRS.

Now the penalty for failing to file your HVUT IRS Form 2290 by the August 31 deadline is equal to 4.5% of the total tax due, and this penalty will accrue on a monthly basis for up to five months. The penalty for not making a HVUT payment is a monthly fee of .5% of the total tax due. You will also face an additional interest charge of .54% per month. This penalty can make the amount you owe increase pretty quickly.

Note: There are also penalties for filing fraudulent or false returns.

In addition to these federal penalties, your state may suspend your vehicle registration until you can provide proof of your HVUT payment. Your stamped Schedule 1 serves as your proof of payment, and you receive it by filing Form 2290. You need a stamped Schedule 1 to renew your tags and register new vehicles. Without it, you will be operating illegally.

How to File HVUT Form 2290?

Now that you know you really need to file your HVUT Form 2290 by the deadline, don’t panic. You can quickly and conveniently file right now by heading to ExpressTruckTax.com or by using the ExpressTruckTax App on your smartphone or tablet. All you have to do is follow the e-filing guide.

Either on the site or app, you will create your free ExpressTruckTax account with your email address. Then you will enter your business information like the name, address, and EIN (Employer Identification Number). Sole proprietors may use their personal information.

Then you will enter your tax year and first used month before entering your vehicle information, including the VIN (vehicle Identification Number) and the taxable gross weight. This is also where you will select if your vehicle was used for any special purposes such as logging, or agricultural use. Remember to include any suspended vehicles.

penalties for filing HUVT Form 2290 late

Next, we will accurately calculate how much HVUT you owe for you. Then you can directly pay that amount to the IRS through direct debit or electronic funds withdrawal, EFTPS, or check or money order.

After that, we will perform a basic audit check on your form to catch any basic errors. Also, we will present you with a summary of your information so you can make sure all of your information has been entered correctly. Once any corrections have been made you can sign your form with a 5-digit number of your choice, pay for it, and transmit it directly to the IRS.

Last but not least, you will receive a copy of your stamped Schedule 1 via email, within about 15 minutes of transmitting it. You can also elect to have it faxed, texted, or mailed anywhere it needs to go.

For an even easier way to file call TSNAmerica at 803.386.0320 to have one of their HVUT 2290 experts file for you, over the phone. With one quick call you will have your form filed and you will receive a copy of your stamped Schedule 1 via email.