Tag: FAQ Friday

FAQ Friday: What is IFTA?

What is IFTA?

IFTA stands for the International Fuel Tax Agreement and was established between the 48 contiguous states and ten Canadian provinces. 

Who has to file IFTA?

Drivers of vehicles with the following characteristics must file IFTA:

  1. Weigh 26,000 pounds or more
  2. Have three or more axles
  3. Travel between two or more jurisdictions

When is the IFTA deadline?

IFTA is filed quarterly to the driver’s base jurisdiction. The details for each quarter are as follows: 

Quarter 1: January 1 – March 31
Quarter 2: April 1 – June 30
Quarter 3: July 1 –  September 30
Quarter 4: October 1 – December 31

The deadline to file for each quarter is as follows (If the deadline falls on a weekend or holiday, the deadline will be moved to the next business day):

Quarter 1: April 30 (May 2, 2022)
Quarter 2: July 31 (August 1, 2022)
Quarter 3: October 31
Quarter 4: January 31

What is required to file IFTA?

You need to generate an IFTA report in order to file IFTA. This report will consist of the following:

  1. Business name
  2. Trucks that meet the IFTA requirements
  3. The amount of fuel purchased and miles that were driven in each jurisdiction

Who do drivers file IFTA to?

Drivers file IFTA to their base jurisdiction, this way the base jurisdiction will distribute the fuel taxes owed to each state.

What is HUT?

HUT is a separate filing requirement that stands for Highway Use Tax. This is not the same thing as the Heavy Vehicle Use Tax and is only required for drivers with base jurisdictions in Kentucky, New Mexico, New York, and Oregon. The HUT needs to be filed directly with the driver’s base jurisdiction.

Can fuel cards help with IFTA?

Fuel cards can be beneficial to have, especially when it comes to IFTA. Fuel cards are credit cards that you can use at the pump and save up to fifteen cents per gallon. With the price of fuel increasing, this can be beneficial in the long run. You can use your credit card statement to help record IFTA fuel purchases in each jurisdiction when generating your IFTA report. 

Where can you generate an IFTA report?

In order to file IFTA with your base jurisdiction, you first need to generate your IFTA report. ExpressTruckTax has a sister company, TruckLogics, where you can generate IFTA reports in state-specific formats. TruckLogics is a full Trucking Management Software that helps users manage all aspects of their trucking business including dispatching, assigning drivers to dispatches, keeping track of equipment maintenance, paying drivers, and more. If you sign up for the preferred or premium plan, you are able to generate IFTA reports as well. If you do not need a full Trucking Management Software, TruckLogics offers an IFTA-only option. Simply sign up, enter your information, and enter your truck and fuel mileage information. 

You can either enter your fuel mileage information through manual entry, bulk upload through the TruckLogics excel template, or through Motive ELD. TruckLogics also keeps track of all of the IFTA tax rates and does all of the calculations for you. If you have vehicles that have different fuel types, your vehicles will automatically be put in separate reports for each fuel type. You only need to pay per report per quarter once you generate the report. 

The third quarter IFTA deadline is only a week away. What are you waiting for? Go to TruckLogics and generate your IFTA report quickly and easily today!

Preguntas Frecuentes del Viernes: ¿Qué es el PIN de Cinco-Dígitos?

¿Qué es el Pin de Cinco-Dígitos?

Para transmitir el Formulario 2290, se debe ingresar un Número de Identificación Personal (PIN) antes de la transmisión. Este número se usa para firmar electrónicamente el Formulario 2290 y se usa como prueba de que no es un robot similar a un captcha o una casilla de verificación que dice que no es un robot. Este PIN también sirve como su firma electrónica para su Formulario 2290. Al ingresar este PIN, puede ingresar cinco-dígitos, excepto ceros. No necesita recordar este número de PIN para el futuro y el número puede ser diferente para diferentes devoluciones.

¿Qué es el Formulario 2290?

El Formulario 2290 es un formulario de impuestos del IRS para el impuesto sobre el uso de vehículos pesados ​​(HVUT) que deben hacer los conductores de vehículos que pesen 55,000 libras o más. Aunque la fecha límite para presentar ya pasó, aún puede hacer el Formulario 2290 con sanciones menores si lo presenta pronto o si está poniendo un camión en la carretera por primera vez. Al presentar el Formulario 2290 con ExpressTruckTax, hay varios pasos involucrados.

¿Qué se Necesita para el Formulario 2290?

Primero, debe ingresar la información de su negocio. Esto incluye su nombre comercial, dirección y número de identificación de empleador (EIN). Luego deberá ingresar la información de su vehículo. Esto incluye la marca, el modelo, el peso bruto imponible y el número de identificación del vehículo (VIN) del vehículo. Si tiene vehículos de crédito que necesita reclamar, deberá enumerarlos a continuación. Una vez que haya ingresado toda esta información, deberá seleccionar su método de pago. Puede elegir tarjeta de crédito o débito, retiro electrónico de fondos (EFW), EFTPS o cheque o giro postal. Al seleccionar una tarjeta de crédito o débito, puede elegir pagar su impuesto sobre el uso de vehículos pesados ​​directamente a través de ExpressTruckTax junto con su tarifa de presentación, o puede optar por pagarlo a través de un procesador de pagos de terceros. Una vez que se selecciona esto, deberá ingresar un pin de cinco-dígitos.

¿Por qué ExpressTruckTax?

ExpressTruckTax es el proveedor líder del mercado de formularios electrónicos 2290. Ofrece a los usuarios una experiencia de archivo rápida y fácil con pasos fáciles de seguir. Haga su declaración en cualquier lugar desde cualquier dispositivo e incluso pague su impuesto sobre el uso de vehículos pesados ​​directamente a través de ExpressTruckTax. Esta experiencia de declaración rápida permite a los conductores pasar menos tiempo estresados ​​por la presentación. ¡Haga el Formulario 2290 sin estrés con ExpressTruckTax hoy!

FAQ Friday: What is the Five-Digit Pin?

What is the Five-Digit Pin?

In order to transmit Form 2290 a Personal Identification Number (PIN) must be entered before transmission. This number is used to e-sign Form 2290 and is used as proof that you are not a robot similar to a captcha or a check box saying you are not a robot. This PIN also serves as your e-signature for your Form 2290. When inputting this PIN, you are able to enter any five digits except all zeros. You do not need to remember this PIN number for the future and the number can be different for different returns. 

What is Form 2290?

Form 2290 is an IRS tax form for the Heavy Vehicle Use Tax (HVUT) that has to be filed by drivers of vehicles weighing 55,000 pounds or more. Although the deadline to file has passed, you can still file Form 2290 with minor penalties if you file soon or if you are putting a truck on the road for the first time. When filing Form 2290 with ExpressTruckTax, there are several steps that are involved.

What is Needed for Form 2290?

First, you need to enter your business information. This includes your business name, address, and Employer Identification Number (EIN). Then you will need to enter your vehicle information. This includes the vehicle’s make, model, Taxable Gross Weight, and Vehicle Identification Number (VIN). If you have any credit vehicles you need to claim, you will need to list them next. Once all of this information is entered, you will then need to select your payment method. You are able to choose credit or debit card, Electronic Funds Withdrawal (EFW), EFTPS, or check or money order. When selecting a credit or debit card, you can either choose to pay your Heavy Vehicle Use Tax directly through ExpressTruckTax alongside your filing fee, or you can choose to pay it through a third-party payment processor. Once this is selected, you will need to enter a five-digit pin.

Why ExpressTruckTax?

ExpressTruckTax is the market-leading Form 2290, e-file provider. It offers users a fast and easy filing experience with easy-to-follow steps. File anywhere from any device and even pay your Heavy Vehicle Use Tax directly through ExpressTruckTax. This fast filing experience allows drivers to spend less time stressing about filing. File Form 2290 stress-free with ExpressTruckTax today!

Viernes de Preguntas Frecuentes: ¿Cuáles Son Los Beneficios de Asociarse con ExpressTruckTax?

¿Qué es el Formulario 2290?

El Formulario 2290 es un formulario de impuestos del IRS para el impuesto sobre el uso de vehículos pesados ​​(HVUT). Este formulario debe ser presentado anualmente por los conductores de vehículos que pesen 55,000 libras o más.

¿Por qué es Importante el Formulario 2290?

El Formulario 2290 es importante porque, después de la declaración, los conductores reciben un Anexo 1 sellado, que se requiere para obtener las placas y el registro de un vehículo.

¿Quién Necesita una Copia del Anexo 1 Sellado?

Es importante que un conductor lleve una copia de su Schedule 1 estampado en su camión en caso de que lo detengan. También es importante que los transportistas y las asociaciones para las que conducen los conductores obtengan una copia del Anexo 1 sellado. Estos transportistas y asociaciones generalmente solicitan copias de estos Anexos estampados 1 para sus registros.

¿Cómo puede ExpressTruckTax beneficiar a los Transportistas y Asociaciones?

ExpressTruckTrax ofrece una función especial que los transportistas y las asociaciones obtienen al convertirse en socios de ExpressTruckTax. ExpressTruckTax ofrece una opción útil para transportistas y asociaciones de camiones donde pueden asociarse con ExpressTruckTax. Cada afiliado que decide asociarse con ExpressTruckTax obtiene su propio portal de declaración del Formulario 2290 donde los conductores pueden presentar su solicitud. No solo eso, sino que el Anexo 1 sellado se enviará automáticamente a la compañía o asociación del conductor después de la presentación.

La mejor parte es que es completamente gratis para aquellos que se asocian con ExpressTruckTax y abren uno de estos portales y el portal contará con el logotipo del transportista o la asociación. Si un socio no quiere un portal, puede optar por un enlace que puede dar a los conductores para que presenten el Formulario 2290 a través de ExpressTruckTax.

Cada transportista o asociación que se asocie con ExpressTruckTax se agregará a una lista a la que los conductores pueden acceder cuando presenten su Formulario 2290 y seleccionen el transportista o la asociación para la que conducen. Al seleccionar un transportista o asociación, el Anexo 1 sellado del conductor se enviará directamente al transportista o asociación una vez que se acepte el Formulario 2290.

¡Conviértase en socio hoy!

Hay muchos beneficios que provienen de los transportistas y las asociaciones que se asocian con ExpressTruckTax. Es útil tanto para los transportistas y asociaciones como para los conductores que conducen para ellos. Al proporcionar a los conductores un lugar designado para presentar, garantizará que se reciban todos los Anexos 1 para evitar multas. ¿Qué estás esperando? ¡Asóciese con ExpressTruckTax hoy!

FAQ Friday: What are the Benefits of Partnering with ExpressTruckTax?

What is Form 2290?

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

Why is Form 2290 Important?

Form 2290 is important because, after filing, drivers receive a Stamped Schedule 1, which is required to get a vehicle’s tags and registration. 

Who Needs a Copy of the Stamped Schedule 1?

It is important that a driver carry a copy of their Stamped Schedule 1 in their truck in case they are pulled over. It is also important that the carriers and associations that drivers drive for get a copy of the Stamped Schedule 1 as well. These carriers and associations typically request copies of these Stamped Schedule 1’s to have for their records. 

How can ExpressTruckTax benefit Carriers and Associations?

ExpressTruckTax offers a special feature that carriers and associations gain by becoming partners with ExpressTruckTax. ExpressTruckTax offers a helpful option for carriers and trucking associations where they are able to partner with ExpressTruckTax. Every affiliate that decides to partner with ExpressTruckTax gets its own Form 2290 filing portal where drivers can go to file. Not only that but the Stamped Schedule 1 will be automatically sent to the driver’s carrier or association after filing.

The best part is that it is completely free to those who partner with ExpressTruckTax and open one of these portals and the portal will feature the carrier or association’s logo. If a partner does not want a portal, they can opt-in for a backslash site which is a link they can give drivers to file Form 2290 through ExpressTruckTax.

Each carrier or association that partners with ExpressTruckTax will be added to a list that drivers can go to when filing their Form 2290 and select the carrier or association they drive for. Upon selecting a carrier or association, the driver’s Stamped Schedule 1 will be sent directly to the carrier or association once Form 2290 is accepted.

Become a Partner Today!

There are many benefits that come from carriers and associations partnering with ExpressTruckTax. It is helpful to both carriers and associations and the drivers that drive for them. By providing drivers with a designated place to file, it will guarantee that all of the Schedule 1s will be received to avoid fines. What are you waiting for? Partner with ExpressTruckTax today!

Viernes de Preguntas Frecuentes: ¿Qué es hacer el Formulario 2290 por anticipo?

¿Qué es la presentación por anticipo?

Todos los años, a partir de Mayo, ExpressTruckTax ofrece un servicio conocido como presentación por anticipo. La presentación por anticipo es un servicio exclusivo de ExpressTruckTax. Cuando realiza una presentación por anticipo con ExpressTruckTax, puede presentar su Formulario 2290 para el próximo año fiscal antes que en cualquier otro lugar.

¿Cuándo estará disponible la presentación por anticipo?

La presentación por anticipo para el año fiscal 2022-23 comenzó el 16 de Mayo de 2022 y dura hasta el 30 de Junio. La razón por la que solo dura hasta el 30 de Junio es porque el IRS comenzará a aceptar oficialmente el Formulario 2290 el 1ro. de Julio.

¿Por qué es bueno declarar temprano?

La presentación por anticipo con ExpressTruckTax le permite evitar la prisa de todos los que intentan presentar una declaración a la vez, lo que hace que el IRS tenga una copia de seguridad. Los formularios 2290 prearchivados se transmitirán al IRS tan pronto como comiencen a aceptarlos el 1ro. de Julio.

¿Cuándo recibe su Anexo 1 si hace su formulario antes de tiempo?

Tan pronto como el IRS acepte el Formulario 2290 después de transmitirlo, recibirá su Anexo 1 sellado. Sin embargo, si espera para presentar la declaración hasta que el IRS comience a aceptar el Formulario 2290, pueden pasar varios días antes de que reciba su Anexo 1 sellado.

Con todos los increíbles beneficios de la presentación por anticipo, sería genial aprovechar esta oportunidad por tiempo limitado. ¿Qué estás esperando? Haga su Formulario 2290 con ExpressTruckTax hoy y pague sus impuestos una vez que el IRS lo acepte y obtenga su Anexo 1 antes que el resto.

FAQ Friday: What is Pre-Filing?

What is Pre-Filing?

Every year starting in May, ExpressTruckTax offers a service known as pre-filing. Pre-filing is a service unique to ExpressTruckTax. When you pre-file with ExpressTruckTax you are able to file your Form 2290 for the upcoming tax year earlier than you can anywhere else. 

When is pre-filing available?

Pre-filing for the 2022-23 tax year started May 16th, 2022, and lasts until June 30th. The reason it only lasts until June 30th is that the IRS starts officially accepting Form 2290 on July 1st. 

Why is it good to file early?

Pre-filing with ExpressTruckTax allows you to beat the rush of everyone trying to file at once causing the IRS to be backed up. The pre-filed Form 2290s will be transmitted to the IRS as soon as they start accepting them on July 1st. 

When do you receive your Schedule 1 if you file early?

As soon as Form 2290 is accepted by the IRS after being transmitted, you will receive your stamped Schedule 1. If you wait to file until after the IRS starts accepting Form 2290 however, it might be several days before you receive your stamped Schedule 1.

With all of the amazing benefits pre-filing it would be great to take advantage of this limited-time opportunity. What are you waiting for? Pre-file your Form 2290 with ExpressTruckTax today and pay your tax later once the IRS accepts it and get your Schedule 1 ahead of the rest! 

FAQ Friday: What Are Credits?

What Are Credits In ExpressTruckTax?

Each time someone pays for their return with ExpressTruckTax, they are required to pay a filing fee which depends on how many trucks you are filing for. When filing with ExpressTruckTax, a credit card is required, and entering the information each time can start to get repetitive after a while. By using the wallet feature in ExpressTruckTax, clients can purchase credits in advance and use them to pay for the filing of Form 2290. By purchasing these credits, you will receive a discount for buying them in bulk. 

Who Can Purchase Credits?

Anyone who needs to file Form 2290 has the option to purchase these credits to not only save money but pay in advance for them and not have to worry about paying later. Credits are especially beneficial for CPAs and businesses who file for large amounts of businesses.

The Benefits Of Purchasing Credits In ExpressTruckTax?

The biggest benefit of the credits is that they don’t expire. You can save them in your wallet and use them when you need them. By purchasing these credits users can save 10% or more on filing fees. Buying these credits greatly benefits those who need to file Form 2290 for multiple vehicles or they file for multiple people. They are time-efficient and make your payment process simpler.

What are you waiting for? If you file multiple Form 2290s then purchase credits today and save time and money!