Category: heavy vehicle use tax

Form 2290 will not be mailed by Internal Revenue Service this year

Posted on July 8, 2011 by - Federal Heavy Vehicle Use Tax, Heavy Use Tax Form 2290, heavy vehicle use tax, Heavy Vehicle Use Tax Forms, Heavy Vehicle Use Tax Instructions, Heavy Vehicle Use Tax Return, IRS Form 2290 Tax Return

The Internal Revenue Service recently announced that they will not be mailing the Form 2290 for filing Heavy Vehicle Use Tax to taxpayers this year. This step was taken due to the increase in electronic filing (E-Filing). This is also the way the IRS encourages more drivers and trucking companies to file electronically. They are pushing them out of the nest (so to speak) of paper filing, so that they can learn how to E-File (and fly).  The IRS does have legitimate reason to do this because filing electronically really is the quickest, easiest, and safest way to file.  It also costs the IRS less money to process electronic returns, which means that our government can be more efficient.

Fortunately, it has recently become incredibly simple to E-File IRS Form 2290 or other tax forms related to the Heavy Vehicle Use Tax (HVUT) such as Form 8849. All you need to do is go to www.ExpressTruckTax.com and start filing. You can file a Schedule 1 for Form 2290, Form
8849, A VIN Correction, and Fuel Tax (IFTA).  

This easy-to-use system allows the taxpayer to go through the process at their own speed and it asks questions in plain English, not confusing tax jargon. There are even special discounts for Owner-Operators who need to file for multiple vehicles. Tax Professionals may also benefit from special pricing for multiple filings.  

Even if you still need help filing your Truck Taxes, Express Truck Tax has an excellent team of customer service professionals who will help you file your return quickly and painlessly..

Truck Tax season:IRS Form 2290(HVUT) E-filing with ExpressTruckTax.com

Posted on June 10, 2011 by - 2290 form, 2290 tax, E-file form 2290, expresstrucktax, Form 2290, form 2290 electronic filing, Free VIN Correction, heavy vehicle use tax, HVUT Filing, Tax 2290, taxes online, Truck Tax

If you will be filing an IRS Form 2290 for Heavy Vehicle Use Tax (HVUT) for yourself, your company, or on behalf of others; then you are probably ready to get that process completed as soon as possible.  The official beginning of the tax period for filing HVUT begins on July 1st, and thanks to the good folks at ExpressTruckTax.com, your filing season could also end on July 1st.  


As you know, the IRS requires anyone filing Form 2290 for more than 25 heavy vehicles to e-file the return, and the IRS also encourages e-filing for everyone else.  ExpressTruckTax.com is the simplest way to get your IRS Form 2290 completed and sent to the IRS.  Instead of using the incredibly slow process of postal mail, or actually driving to the nearest IRS office, ExpressTruckTax.com allows you to electronically send the return to the IRS and the entire process can be completed in 10 minutes!

EIN(Employer Identification Number) Change:IRS Form 2290 and 8849

Posted on June 8, 2011 by - 2290 form, 2290 tax, Form 2290, form 2290 electronic filing, Free VIN Correction, heavy vehicle use tax, HVUT Filing, Tax 2290

Important Notice For Anyone Filing Truck Taxes for either IRS Form 2290 or Form 8849!!!

The IRS is now checking EIN (Employer Identification Number) verifications much more thoroughly then they have in the past. Previously, The IRS did not always verify the EIN very extensively. As of now, the IRS requires that all EIN’s be at least two weeks old in order to file with them. So, if you have a very new EIN, it would be best to wait at least 2 weeks before filing.

This information will be particularly useful for individual Owner-Operators, as well as Service Providers that file on behalf of many different Owner-Operators. If you need to apply for an EIN, you can contact the IRS by phone or apply online on the IRS website.

IRS Form 2290 Amendments

Posted on May 16, 2011 by - 2290 form, 2290 Schedule 1, 2290 tax, 2290 VIN Correction, e-file your truck tax, Express VIN Correction, Form 2290, Get 2290 Schedule 1 in minutes, heavy vehicle use tax

When the information of the vehicle changes, IRS wants you to file amendments to the originally filed form 2290. There are three types of amendments available for form 2290.

    1.Additional Tax From Increase in Taxable Gross Weight
    2.Suspended vehicles exceeding the mileage use limit
    3.VIN Correction

Additional Tax From Increase in Taxable Gross Weight

This type of amendment is filed if the taxable gross weight of a vehicle increases during the period and the vehicle falls in a new higher category. For instance, an increase in maximum load customarily carried may change the taxable gross weight.
When this happens, you Need to calculate and report the additional tax for the remainder of the period on Form 2290, line 3. Also you need to check the Amended Return box and to the right of “Amended Return” write the month the taxable gross weight increased. This should be by the last day of the month following the month in which the taxable gross weight increased.
      
With ExpressTruckTax.com, we make it easy to file this increase in taxable gross weight and accurately calculate the difference in tax due to IRS.  You will also get your Schedule 1 for the new weight category in minutes.
Suspended vehicles exceeding the mileage use limit

This type of amendment is filed if a suspended vehicle exceeds the mileage use limit. Mileage use limit for a heavy vehicle on public highways is 5,000 miles or less (7,500 miles or less for agricultural vehicles). The mileage use limit applies to the total mileage a vehicle is on the road during a period, regardless of the number of owners.
You to need to calculate the tax on Form 2290, page 2, based on the month the vehicle was first used in the period. File the amended Form 2290 and Schedule 1 by the last day of the month following the month in which the mileage use limit was exceeded.
With ExpressTruckTax.com, we make it easy to file this amendment and accurately calculate the tax due to IRS.  You will also get your Schedule 1 for the weight category in minutes. 
VIN Correction

VIN Correction is filed if you have made a mistake in any of the VIN in the previously filed Form 2290.
VIN Corrections can be only done for Taxable or suspended vehicles and not for credit vehicles or for prior year suspended vehicles. When you file a VIN Correction Form 2290, you can’t combine it with claiming credits on the same form. The wrong VIN must have been paid for in the original form 2290. Otherwise, the IRS will assign penalties in addition to the actual tax.
ExpressTruckTax.com offers Efiling of VIN Correction with no strings attached. You can efile VIN Correction and get your corrected Schedule 1 in minutes. 

How to be an Owner/Operator Truck Driver?

Posted on April 4, 2011 by - 2290 form, 2290 schedule 1 in minutes, 2290 tax, e-file your truck tax, express 2290 schedule 1, Express IFTA, Form 2290, heavy vehicle use tax, Tax 2290

What is It?
An owner operator truck driver is someone who owns their own truck and uses it to transfer goods as an independent contractor. Owner operators often work for several truck lines and companies. This type of situation is good if you enjoy managing your own schedule and the sense of freedom that the open road provides. It is ideal for someone to have many contacts in the trucking industry if they wish to pursue a career as an owner operator due to the difficulty of getting loads to haul.  

How to Become One?
The First thing to do, in order to become an owner operator, is to get CDL license endorsement. A CDL endorsement is added to your current driver’s license after a knowledge and skills test are passed. It is necessary to gain experience in the trucking industry as a driver before beginning business as an owner operator. The next step is actually leasing a truck. After you get a truck, you need to focus on getting work from reputable companies. Important things to remember about gaining and maintaining work is that you can build a strong reputation as an owner operator by being on time and having good communication with the employers.

What Taxes are Associated with Owner Operators?
The IRS requires all vehicles with registered gross weights equal to or exceeding 55,000 pounds to pay annually on heavy vehicles operating on public highways to file Heavy Vehicle Use Tax or HVUT. There are three different categories for HVUT rates for these vehicles. Vehicles Below 55,000 pounds have HVUT because they do not qualify as a heave vehicle. Vehicles between 55,000 and 75,000 pounds owe $100, plus $22 per 1,000 pounds over 55,000 pounds. Finally, for vehicles that are over 75,000 pounds the maximum HVUT is $550 per year.  

There are many taxes that are associated with the trucking industry. Many of them can be managed online through www.expresstrucktax.com. This serves as a one stop shop for all truck tax needs.  

How Fuel Tax-IFTA (International Fuel Tax Agreement) Works?

Posted on March 28, 2011 by - 2290 form, 2290 tax, e-file your truck tax, Form 2290, heavy vehicle use tax, highway tax, how to file truck tax, income tax software, IRS form 2290, online tax filing, online taxes, Tax 2290

What is IFTA?

The International Fuel Tax Agreement, or IFTA, represents a tax collection agreement by and among the 48 contiguous United States and the 10 Canadian Provinces bordering the United States.  IFTA is a quarterly tax on qualified highway motor vehicles that operate in at least 2 out of the 58 total jurisdictions.  

Who Must Pay?
A vehicle is considered to be a qualified motor vehicle if it is used, designed, or maintained for the transportation of persons or property and has a gross vehicle or registered gross vehicle weight of more than 26,000 pounds.  A Vehicle is also considered to be a qualified motor vehicle if it has three axles, regardless of its weight.  Finally, a vehicle is considered to be a qualified motor vehicle if the combined weight of all of its parts is greater than 26,000 pounds.

How Does it Work?
Each Vehicle has a Base Jurisdiction, which is the state or province in which the vehicle is registered.  Fuel Tax must be filed with each jurisdiction each quarter.  Each state or province has a different Rate and those rates change quarterly.  Each driver must keep a trip log of how many miles are traveled in each state or province, as well as how much fuel was purchased in each state or province.  

What is IFTA’s Purpose?
The official purpose of IFTA is “to promote and encourage the fullest and most efficient possible use of the highway system by making uniform the administration of motor fuels use taxation laws with respect to qualified member vehicles operated in multiple member jurisdictions.”  When IFTA is filed with the appropriate jurisdiction, The Fuel Tax Report is then used to determine the tax amount due as well as the refund due.  It is also used to redistribute taxes from collecting jurisdictions to jurisdictions that it is due.  One of the reasons for the Fuel Tax is to ensure that a vehicle pays taxes to all deserving jurisdictions. For Example: if a vehicle travels through a state, but buys no gas while in that state, then there was no fuel tax paid to that state through the purchase of gasoline.  Part of their tax would then be redistributed to the state that received no fuel tax.

Filing a Form 2290 with the IRS

Posted on March 24, 2011 by - 2290 form, 2290 tax, efile form 2290, express 2290, express form 2290, expresstrucktax, file HVUT, Form 2290, heavy vehicle use tax, IRS form 2290, Tax 2290, tax highway

The Heavy Vehicle Use Tax, or HVUT, must be filed with the IRS for any highway motor vehicle that exceeds a gross weight of 55,000 pounds.  IRS Form 2290 Schedule 1 is used to report all vehicles for which you are reporting tax (including an increase in taxable gross weight) and those that you are reporting suspension of the tax by category and vehicle identification number (VIN).  The Schedule 1 may also be used as proof of payment to register your vehicle in any state. Use the stamped Schedule 1 that was returned to you by the IRS for this purpose.

Who Must File?
You must file a Form 2290 and Schedule 1 for the tax period beginning on July 1, 2010, and ending on June 30, 2011, if a highway motor vehicle is registered, or required to be registered, in your name under state, District of Columbia, Canadian, or Mexican law at the time of its first use during the period and the vehicle has a taxable gross weight of 55,000 pounds or more.  Any type of business entity may file a Form 2290 with the IRS.

What Vehicles are Taxable?
The IRS considers taxable Highway Motor Vehicles to be any self-propelled vehicle that is designed to carry a load over public highways.  Examples of such vehicles include trucks, truck tractors, and buses.  The IRS typically does not consider vehicles such as vans, pickup trucks, panel trucks, or similar vehicles because they do not typically weigh 55,000 pounds or more.  A vehicle may consist of a chassis, or a chassis and a body, but does not include the load of the vehicle.  

Who is Exempt?
Although it is rare, some Vehicles that fit the above description may be exempt from the HVUT and Filing requirements of Form 2290.  To officially be exempt from filing Form 2290, the vehicle must be owned and operated by the following:
  • The Federal Government
  • The District of Columbia
  • state or local government
  • American National Red Cross
  • Non-Profit Volunteer Fire Department, Ambulance Association, or Rescue Squad
  • Indian Tribe Government (Only if the Vehicle is Used for essential Tribe or Government Function)
  • Mass Transportation Authority (Only if granted certain powers normally exercised by the state)
  • Qualified Blood Collector Vehicles
  • Mobile Machinery that meets specifications for a chassis


When to File?
A Form 2290 must be filed annually, for each taxable vehicle that is used on public highways during the current period.  The Current Period is from July 1, 2010 and ends on June 30, 2011.  A Form 2290 must also be filed once a vehicle is placed in service.  The due date for each month is the last day of the following month.  For example: if a vehicle is placed in service on October 3rd, the Form 2290 will be due on November 30th.  

How to File?
Although it is possible to paper file, E-Filing is required for each return containing at least 25 vehicles.  The IRS does encourage everyone to file electronically due to its security and speed.  This is highly recommended for Form 2290 in particular because the filing due dates are always only one month away.  There are several providers of services that can help you E-File Form 2290 with the IRS, one such provider is www.expresstrucktax.com.  They provide a very excellent service for all Truck Tax Needs.