Category: IRS

What Happens If I Forgot to File My Form 2290 to the IRS?

Posted on October 8, 2010 by - 2290, 2290 online, 2290 penalty, 2290 Schedule 1, efile, express 2290, Express Excise, HVUT, IRS, late, Tax 2290, Truck Tax

A 2290 can be filed with the IRS at any time after the deadline has passed but the tax due may be subject to penalties and interest. The penalties for filing late will not be imposed if you can show reasonable cause for not filing on time.

The penalty for failing to file IRS Form 2290 in a timely manner is equal to 4.5 percent of the total tax due, assessed on a monthly basis up to five months. Late filers not making an HVUT payment also face an additional monthly penalty equal to 0.5 percent of total tax due. Additional interest charges of 0.54 percent per month accrue as well.

As you can see, the penalties for failing to file can add up quickly. HVUT for an 80,000 lbs vehicle would typically cost about $550. However, for every month that passes without filing, penalties and interest add more than $30 to the total tax due. If you fail to file for 5 months, the total HVUT tax due to the IRS for that vehicle would be more than $700.

Additionally, many states won’t permit the vehicle to be registered without proof of payment for the HVUT. Needless to say, it’s important to file your Form 2290 on time!

If you would like more information about heavy vehicle use taxes and penalties and interest, please visit the IRS or DOT websites.

IRS To Stop Mailing Out Tax Forms

Posted on October 5, 2010 by - 2290, 2290 Amendments, 2290 online, e-file online, efile, efile2290, express 2290, Express Excise, Express2290, file, Form 2290, Form2290, HVUT, IRS, irs 2290, Schedule 1, Tax 2290, Truck Tax

The IRS continues to encourage taxpayers to E-File in order to save time and money!

The IRS has announced that starting next year it will stop mailing out tax forms as an effort to reduce the costs associated with printing and postage. However, the IRS also cites the growing trend of electronically filing as a major reason for the change.

Have you considered E-Filing IRS Form 2290 for your heavy vehicle use taxes (HVUT)? It’s fast, convenient, and secure! Stop driving to the “nearest” IRS office miles away. Stop waiting in line or wondering if the IRS received your 2290 you put in the mail. You can electronically file your single-vehicle IRS Form 2290 for just $9.90. Receive your stamped Schedule 1 back in minutes. Electronically file today!

For more information about the new IRS policy, please visit the IRS website at http://www.irs.gov/individuals/article/0,,id=228162,00.html

Express2290 now offers proof of payment notifications!

Posted on August 23, 2010 by - 2290 Amendments, 2290 Schedule 1, e-file 2290, efile2290, express 2290, Express Excise, Express2290, file HVUT, Form2290, IRS, irs 2290, Tax 2290, Truck Tax

Express2290.com is all about saving customers time and money. The program is already packed with great features–like free VIN correction, bulk uploads, text message notifications–but they went ahead and added one more.

Usually owner-operators are required to provide proof to their contracting trucking or leasing company that they have filed their 2290 form and paid the HVUT. The problem is, as owner-operators, they’re not always near a fax machine, computer, or post office. That’s where Express2290.com comes in. 

The folks at Express2290.com will send a free proof of payment notification on behalf of the owner operators that file through them. All they have to do is enter in the contact information for the trucking company they drive for and Express2290 will automatically send both the owner-operator and their company a copy of the stamped Schedule 1 form when it comes in.

Everyone wins with this system–the owner-operator doesn’t have to find a fax machine, and the trucking company doesn’t have to follow up with drivers to make sure they submitted their proof of payment. As with the other exclusive features at Express2290.com, the proof of payment notification is completely free. Just another way the folks at Express2290.com make taxes less taxing.

Last Minute Tax Tips

Posted on August 20, 2010 by - 2290, 2290 Amendments, 2290 Schedule 1, e-file 2290, efile2290, express 2290, Express Excise, Express2290, file HVUT, Form 2290, Form2290, HVUT, IRS, irs 2290, Tax 2290, Truck Tax

There are just 10 days left to e-file your HVUT forms at www.Express2290.com. Here are some tips to help you get through the process as quickly as possible,

–Have your information close by. Know your business name, address and EIN. Also make sure to have the correct VINs for all the vehicles you’re reporting.

–Know your vehicles. Got any suspended vehicles? Any vehicles lost or stolen? Make sure you report all your relevant vehicles to the IRS.

–Get instant notification. With www.Express2290.com you can get fax and text message notifications so you know exactly when your Schedule 1 is ready.

–Get some help from the experts. If you’re pressed for time, or just need a bit of assistance www.Express2290.com has incredible customer support. They can walk you through the program, even assist you in filing. Contact them via email, chat or phone.

Just 10 days left. Gather your info and head over to www.Express2290.com now to get started!

Take advantage of some great Express2290.com exclusives!

Posted on August 13, 2010 by - 2290, 2290 Schedule 1, e-file 2290, e-file online, efile2290, express 2290, Express Excise, Express2290, file HVUT, Form 2290, Form2290, HVUT, IRS, irs 2290, IRS form 2290, Tax 2290, Truck Tax

Express2290.com is all about speed and convenience–hence the Express name. Here are a couple of great exclusives you get with Express2290 that will help save you time and money.

-FREE fax and text message notifications. You’ll know when your Schedule 1 is ready just minutes after filing!

-Send a fax of your stamped Schedule 1 from within the application–FREE

-CPA’s/tax professionals can fax paperwork to their clients without leaving the application

-E-file a VIN correction FREE

-Automatic generation of your 8849 form while you’re filing 2290.

On top of all this, they also have US-based phone, email and chat support. Head to Express2290.com now to take advantage of these great features and so much more.

Filing your HVUT forms

Posted on July 30, 2010 by - e-file 2290, Express2290, HVUT, IRS

IRS Schedule 1 Form 2290 is used to pay Heavy Highway Vehicle Use Tax (let’s call it HVUT for short). Those that need to pay HVUT can do so online through an IRS authorized e-filer. Online filing is mandatory when filing for 25 vehicles or more. Even if you don’t have a lot of vehicles, the IRS still recommends that file online. Make sure you use a secure and authorized online e-filer. The government uses the money received from the taxes to help maintain and improve roads/

Peak season for paying your HVUT starts in July. Taxes can be paid through June of the next year.

Here’s some of the information you’ll need when you file.

  • Name and company information
  • Vehicle Identification Numbers
  • Number of vehicles
  • Gross weight of the vehicles

You’ll need more info than that of course, but the form isn’t hard to fill out, especially if you’re using helpful online software that will get you through the process step by step. You can even use the online software to send your payment in.

The 5 W’s of filing HVUT

Posted on July 28, 2010 by - e-file 2290, Express Excise, HVUT, IRS

What is Form 2290?
Form 2290 is the form used to file a Heavy Highway Vehicle Use Tax Return. It is required for highway motor vehicles that have a taxable gross weight of 55,000 pounds or more.

Who files Form 2290?
If a taxable highway motor vehicle is registered (or required to be registered) in your name at the time of its first use and the vehicle has a taxable gross weight of 55,000 pounds or more. This goes for individuals, limited liability companies, corporations, partnerships, or other organizations.

Why file Form 2290?
You’re required to file Form 2290 with the IRS for highway motor vehicles that have a taxable gross weight of 55,000 pounds or more.

When is Form 2290 filed?
Form 2290 must be filed for each month a taxable vehicle is first used on public highways during the current tax period, which begins on July 1, 2010 and ends on June 30, 2011.

The IRS provides this example:

John uses a taxable vehicle on July 1, 2010. John must file Form 2290 by August 31, 2010 for the period beginning July 1, 2010, through June 20, 2011. To figure the tax, John would use the amounts on Form 2290, page 2.

Where to file Form 2290
The IRS encourages all filers to file electronically, though it is required of those reporting 25 or more vehicles. You can get your filing done at Express2290.com and save time and money.

HVUT Common Questions

Posted on July 26, 2010 by - Express Excise, Express2290, HVUT, IRS, IRS form 2290

Need some help with your 2290 filing? The experts at Express2290.com have the answers to all your questions.

What qualifies as a “highway motor vehicle”?
The IRS says a highway motor vehicle is any self-propelled vehicle designed to carry a load over public highways, whether or not that vehicle is also designed to perform other functions. Examples include trucks, buses and truck tractors. For the most part, vans and pickup trucks are not subject to this tax because their taxable gross weight is usually less than 55,000 pounds.

What qualifies as a “public highway”?
Any rod in the United States that is not a private roadway. That includes federal, state, county and city roads.

Are there any vehicles exempt from filing Form 2290?
Yes. Vehicles operated by:

  • The Federal Government
  • The District of Columbia
  • A state or local government
  • The American National Red Cross
  • A nonprofit volunteer fire department, ambulance association , or rescue squad
  • An Indian tribal government but only if the vehicle’s use involves the exercise of an essential tribal government function
  • A mass transportation authority created under a statute that gives it certain powers normally exercised by the state
  • A qualified blood collector vehicle
  • Mobile machinery that meets the specifications for a chassis

Who files when a vehicle is dual registered?
If a taxable vehicle is dual registered to an owner and another person, the owner is liable for the tax and must file Form 2290.

What is the Taxable Gross Weight?
The taxable gross weight of a vehicle (except buses) is the total of

  • The actual unloaded weight of the vehicle fully equipped for service
  • The actual unloaded weight of any trailers equipped for service usually used with the vehicle
  • The weight of the maximum load usually carried on the vehicle and on any trailers usually used with the vehicle.

What is the Taxable Gross Weight for buses?
It’s the bus’ actual unloaded weight fully equipped for service plus 150 pounds for each seat provided for passengers and driver.

Can I pay my tax online?
Yes. If you’re filing electronically, you can pay the IRS using Electronic Funds Withdrawal, or with the Electronic Federal Tax Payment System