Tag: Form 2290 deadline

What’s the Deal with Form 2290 Deadlines and Month of First Use?

Posted on March 31, 2021 by - 2290 deadline

Your IRS Form 2290 deadline can be a bit difficult to figure out. There’s a lot of legalese surrounding when your deadline might fall.

This is a problem because late filings and late HVUT payments almost always result in penalties and interest from the IRS. 

Let’s cut through the confusion and phrasing so you can figure out exactly when you need to file your Form 2290.

The Form 2290 Tax Period

Let’s start with the first factor to consider when trying to figure out your Form 2290 deadline – the HVUT tax season. Unlike the primary IRS individual and business income tax year that we are all familiar with, the Heavy Vehicle Use Tax season runs from July 1 – June 30 each year. Why? We don’t know. Who knows why the IRS is the way it is?

What we do know is that if you are using the same truck as the last HVUT tax year, your Form 2290 deadline will be one month after the end of the current tax year – August 31. Since the tax season ends on July 1, the IRS generously gives you almost two months to file your new Form 2290 before the due date. 

But what if you start using a different truck during the tax year?

Form 2290 First Use Month

If you start using a different truck during the tax year, you cannot wait until the typical August 31 deadline to file. You will need to file Form 2290 by the end of the month following the month of first use. So, for instance, if you started using a vehicle in February 2021, you will need to file your Form 2290 by March 31, 2021 (today). 

Then for the next tax year, if you are still using that truck, your Form 2290 deadline will be August 31 along with everyone else. 

What do you need to file Form 2290?

In order to file your Form 2290 by your deadline, you will need the following information:

  • 1. Business Details: Name, EIN, and Address
  • 2.Vehicle Details: VIN. and gross weight of the vehicle.
  • 3. Type of Return: If you are filing a 2290 VIN Correction or amended return, be sure to choose the type of amendment.
  • 4. Suspended Vehicle Details: If your vehicle is tax suspended choose the mileage category and enter the VIN.
  • 5. Paid Preparer Details: If you are Tax Professional filing for your clients, Enter your Firm name, address, EIN, name, and PTIN.

File your Form 2290 today!

If you started using a truck in February or earlier, you need to file your Form 2290 by midnight tonight!

We provide easy-to-follow prompts and we guarantee you’ll get your stamped Schedule 1 back from the IRS! The whole process only takes a few minutes.

No Need To Wait, The IRS is Processing Form 2290s Again

Posted on January 18, 2021 by - Form 2290

The IRS typically stops processing Form 2290s for a short period of time every year. This year from late December to early January, the IRS briefly put a hold on Form 2290s. 

But now the IRS is back! If you e-file your Form 2290 today, it will most likely be processed today! Be sure to go e-file with us if you haven’t already!

January Form 2290 Deadline

When did you first use your heavy vehicle on public highways during the Heavy Vehicle Use Tax (HVUT) period? Because if it was in December, then your Form 2290 is due by January 31, and that’s only a little over a week away.

If you need to file, luckily you have ExpressTruckTax to help you complete your form in a matter of minutes online. However, we go beyond e-filing. We’re also here to share important Form 2290 information so you will always know exactly when you’ll need to file. Check out these HVUT deadline tips.

Was December Your First Used Month? Then File Your 2290 

You file 2290 online based on the month that you first use your heavy vehicle on public highways during the tax period. This is so you won’t pay for the months that your truck wasn’t on the road.

The HVUT period runs from July 1 to June 30 of the following year and you have to file by the last day of the month following your first used month. That means if you first used your truck in December then you need to file by January 31 or you will have penalties to face.

Because most people first use their trucks in July, when the HVUT period begins, August 31 is a major deadline day. Filing your Form 2290 is incredibly important because the taxes collected are used to repair, maintained, and build public roads.

As a result of filing, you will get a copy of your stamped Schedule 1, which serves as proof of filing and paying your HUVT tax. This form is actually needed to renew your tags and to complete your IRP return.

HVUT Penalties

If you fail to file by the deadline you will have expensive penalties to face. For example, for failing to file by the due date you will face a penalty of 4.5% of the total tax due. This amount will accrue on a monthly basis for up to five months.

Plus, if your HVUT payment is late or doesn’t fully cover the amount you owe you will face an additional penalty of 0.5% of the total amount due. Also, there is an additional penalty of .54% as well.

But worst of all, if you don’t file you won’t have a copy of your stamped Schedule 1, which is required by the DMV so you can keep legally operating. Don’t get parked, file by the deadline with ExpressTruckTax.

E-Filing With ExpressTruckTax

We have streamlined the e-filing system to make it incredibly quick and easy. You don’t have to download anything or head to the IRS office. Simply create your free account and follow the step-by-step instructions to instantly complete your form and transmit it directly to the IRS.

Our instructions explain what information is required to complete your form and where it needs to be entered. Plus, our internal audit check will scan your 2290 form to catch any basic errors before it’s sent to the IRS.

As a result of filing with us, you will receive a copy of your stamped Schedule 1 in about 15 minutes via email.

Best of all, our live, US-based support team is ready to help. If you have any questions call us at 704.234.6005 Monday – Friday from 9 AM to 6 PM EST. We also offer live chat and 24/7 email support at support@ExpressTruckTax.com.

10 Things Truckers Need To Know About IRS Form 2290

Posted on November 11, 2020 by - IRS form 2290

 
Time and time again truckers filing their 2290 online tend to ask the same questions and make the same mistakes when it comes to their heavy vehicle use taxes. So let’s go over the most common questions, so they are fresh in your mind when you e-file your 2290.

1. Is my vehicle subject to the HVUT/Form 2290?

You are subject to HVUT/Form 2290 if you are registering a vehicle in your name as an owner-operator or self-employed driver, it weighs more than 55,000 pounds, and you are using it on public roads. The Heavy Vehicle Use Tax applies to both interstate and intrastate drivers.

2. If I am based in Canada or Mexico, does the HVUT apply?

Yes, if you drive your vehicle in the United States. You will need to file a 2290 Form and pay any owed taxes. You will also need to carry proof of tax compliance when entering the U.S. as well.

3. When is the Form 2290 deadline?

IRS Form 2290 returns are due on the last day of the month following your vehicle’s first month of use during the reporting period. That means if your vehicle was on the road last July the deadline for filing is August 31.

If a new vehicle goes into service during the reporting period, you will need to file an additional Form 2290 and pay the tax amount. For example, if you purchased a vehicle in November, you are required to put the vehicle in your name making its first month of use December. In this case, you will need to file an additional Form 2290, and pay owed taxes on or before December 31. This is a partial year filing and will be a reduced tax amount.

4. Can I suspend my Heavy Vehicle Use Tax?

You can apply for a suspension of the Heavy Vehicle Use Tax if you expect to drive your vehicle less than 5,000 miles during the year (7,500 miles for agricultural vehicles).

However, you are still required to file IRS Form 2290 even though you do not have a tax payment. If you do end up driving more than expected, you must file an amendment to your original 2290 and pay taxes.

5. Am I required to file my 2290 Form online?

Only if you have 25 or more qualified vehicles. If you do, the IRS does not require you to file 2290 online. However, the IRS highly encourages all taxpayers to file and pay online with an IRS-authorized e-file provider, like ExpressTruckTax.

6. How can I claim a credit?

Now is the time for you to claim any credits you earned last year. Credits can be claimed using a couple of different methods.

If you ended up driving your vehicle less than 5,000 miles (or 7,500 for agricultural vehicles) you can claim a credit. Or if your vehicle was stolen or destroyed last year, you can also claim a credit. For more information, check out this page.

7. Can I claim a refund on my IRS Form 2290?

Yes, if your credit exceeds your taxes owed on your filing, you will need to file a refund. This can be done by filing IRS Form 8849, Claim for Refund Excise Taxes.

8. What do I need to register my vehicle?

Proof of your HVUT payment is required before you register your vehicles. You will not be registered unless you can provide your stamped Schedule 1.

9. How do I pay 2990 online?

When you file 2290 online with ExpressTruckTax, you can pay via the Electronic Federal Tax Payment System (EFTPS), or by check/money order.

10. Where can I find more information about IRS Form 2290?

You can check out our blog page for more information concerning pre-filing and the upcoming 2290 season. Check out our FAQ page which answers more questions you might have about Form 2290. Or you can find more information via the IRS publication “Instructions for Form 2290.”

We Got Your Back

We understand that we are coming up on a very stressful time for the trucking industry, but we will be there every step of the way. We will continue to supply you with up-to-date information about the IRS Form 2290 deadline.

ExpressTruckTax is a trusted IRS-authorized e-file provider with a simplified step-by-step filing process. We also offer 24/7 support in both English and Spanish to answer any of your questions.

The 2290 Deadline Has Passed! How To File Your Return Now

Posted on September 14, 2020 by - 2020 Form 2290 Deadline

The Form 2290 deadline was August 31!

We understand that life happens and sometimes deadlines slip by. It’s OK, there are still ways to file. 

Unfortunately, late filing does mean that the IRS will tack on penalties and possibly even interest. So it’s best to not wait any longer.

How to file Form 2290 after the deadline

With ExpressTruckTax, filing Form 2290 is quick and simple. You can get back on the road in less than 5 minutes. Simply log in to your ExpressTruckTax account and file for the 2020-21 tax year!

If you have filed with us before and you are filing for the same truck, you can use our Ready Return feature to auto-populate your return! ExpressTruckTax will pull the information from your last return and use it to fill out your return for you. All you have to do is pay the filing fee!

Even if you have not filed with us before, you can still file Form 2290 in less than 5 minutes. All you have to do is enter your business information, vehicle information, and choose how you will pay your HVUT. 

We offer an interview-style filing process with step-by-step instructions, 100% US-based customer support, and free VIN corrections to make things easier for you.

Plus, with our ExpressGuarantee, we guarantee that your Form 2290 will be accepted by the IRS and you will receive your stamped Schedule 1 or your money back! We will help you correct any IRS errors.