Tag: hvut 2290

How To Avoid Form 2290 Penalties!

Posted on April 27, 2023 by - Form 2290 Penalties

The deadline to file and pay your Heavy Vehicle Use Tax (HVUT) is quickly approaching if you put a new truck on the road in March. It is important to understand the consequences of failing to file and/or pay your tax on time. In addition to needing the Stamped Schedule 1 to obtain your plates, if you miss the deadline to file or pay your HVUT, you can be hit with significant IRS penalties and interest charges.

Form 2290 Penalties

For example, if you fail to file your HVUT return by the due date, you could be penalized 4.5% of the total HVUT 2290 amount. This penalty can accrue for up to five months. If you fail to pay the full amount of tax due, you can also be subjected to a penalty of 0.5% of the unpaid tax per month, up to a maximum penalty of 25%.

These penalties can quickly add up and result in a significant financial burden for taxpayers who do not file or pay their HVUT liability on time. What’s more, failing to pay your tax debt can also result in the IRS placing a lien on your assets, including your trucks, and seizing those assets to satisfy the tax debt.

Avoid HVUT Penalties With ExpressTruckTax

To avoid these consequences, it is important that all truckers file their Form 2290 HVUT return and pay their tax due by the last day of the month following the first use. The good news is that you can file your HVUT, Form 2290 quickly and easily with ExpressTruckTax.

Creating an ExpressTruckTax account is simple, and filing your Form 2290 can be completed in just six easy steps. By using ExpressTruckTax, you can rest assured that your HVUT will be filed correctly and on time, avoiding costly penalties and interest charges.

Don’t let the deadline sneak up on you – create your ExpressTruckTax account today and file your HVUT return before it’s too late!

The IRS Form 2290 Due Date for the 2022-23 Tax Year

Posted on August 5, 2022 by - Authorized Efile provider for form 2290, Benefits of e-filing Form 2290, Best Form 2290 service provider, Form 2290 2022-23

What is Form 2290?

Form 2290 is an IRS tax form for the Heavy Vehicle Use Tax (HVUT). This tax needs to be filed by drivers of vehicles weighing 55,000 pounds or more. If a qualifying vehicle drives less than 5,000 miles a year, or less than 7,500 miles a year if the vehicle is used for agricultural purposes, IRS Form 2290 must still be filed for this vehicle. In this case, the vehicle is considered suspended by the IRS. When it is considered suspended, no tax will be owed to the IRS for this vehicle. If a qualifying vehicle is not suspended the tax amount owed will depend on the vehicle’s Taxable Gross Weight and the vehicle’s First Used Month (FUM). Filing Form 2290 guarantees that the driver will receive a Stamped Schedule 1, which is required when getting the vehicle’s registration and tags. 

When is the Form 2290 Due?

When Form 2290 is due depends on the vehicle’s First Used Month, especially if the vehicle has been on the road for less than a year. In this case, the payment for the Heavy Vehicle Use Tax will be due on the last day of the following month. For example, if you put your vehicle on the road in September, you should file your Form 2290 in September but you will have until the last day of October to pay the Heavy Vehicle Use Tax to the IRS. 

If the vehicle has been on the road for more than a year or is being put on the road for the first time in July, the vehicle’s First Used Month will be July. This means that the deadline to pay the Heavy Vehicle Use Tax to the IRS will be August 31st. The Heavy Vehicle Use Tax is always paid for the upcoming tax year. The tax year for Form 2290 goes from July 1st to June 30th. This means that the Form 2290 due date 2022 is August 31st, 2022 for the 2022-23 tax year.

What Information is Required to E-file Form 2290?

When going to file the 2290 Form, the IRS recommends that it is filed online through an authorized e-filer. This is because if you paper file with the IRS, it will take several weeks before you get your Stamped Schedule 1.

Instead of spending a lot of time finding a place to e-file your Form 2290 online, look no further than ExpressTruckTax, the market-leading Form 2290 e-file provider. When filing Form 2290 online with ExpressTruckTax, there is some information that you will need in order to file the form correctly. 

You will need to know your business name, the type of business it is, and the Employer Identification Number (EIN). You will also need to know information about the vehicle or vehicles you are filing for. You will need to know the type of vehicle, the vehicle’s Taxable Gross Weight or weight class it falls under, and whether or not it is used for logging. You will also be asked if this vehicle is suspended or not. 

Paying your HVUT to the IRS

Once you enter this information, you will be asked to enter any credit vehicles that you may have. This means any vehicles that were sold, destroyed, stolen, or did not exceed the mileage limit the previous year. You will then be asked to select your payment method. 

There are four payment options to choose from. These payment methods include credit or debit card, electronic funds withdrawal (EFW), EFTPS, or check or money order. When you use a credit or debit card you are able to either make your payment on the ExpressTruckTax website or go to another IRS-authorized payment processor to make your payment. 

When you select to pay with a credit or debit card, you now have the option to pay straight through ExpressTruckTax. You also have the option to choose another IRS-approved payment processor, but this requires extra steps such as entering a lot of your information a second time. For this payment method, all you have to do is enter in your credit card information and you will pay your tax amount plus your filing fee along with a 4% processing fee. Once this is complete your tax will be paid.

Another option you are able to choose from is electronic funds withdrawal (EFW). For this option, you will be required to enter your checking or savings account information and your tax amount will be withdrawn from your account within a couple of days of the IRS accepting your Form 2290. 

If you select EFTPS as your payment method, you will need to go to EFTPS.gov and make your payment there. In order to utilize this payment method, you will either need an existing account with EFTPS or create one. Please note that it may take up to 15 business days for your account to become active. 

Lastly, you are able to send in your payment via check or money order. You will receive a voucher with the information on where to send your payment to. Include this voucher with your payment when you mail it in. With this option, you are able to send in the payment at your convenience as long as it is postmarked before or by August 31st.

Once you select the payment method your filing is complete. ExpressTruckTax makes it easy to file your Form 2290 as long as you have the information required to file. It only takes a few simple steps and a few minutes to file. What are you waiting for? File your Form 2290 with ExpressTruckTax before the August 31st Form 2290 due date today!

La Temporada para Llenar el Formulario 2290 para el Año Fiscal 2022-23 ha Comenzado Oficialmente

Posted on July 1, 2022 by - Spanish, Spanish Form 2290

Hoy 1ro. de Julio marca el inicio de la presentación del Formulario 2290 para el año fiscal 2022-23. El IRS ha comenzado oficialmente a aceptar el Formulario 2290, lo que significa que ahora es el momento de hacerlo. Todos los Anexos 1 sellados están oficialmente vencidos a partir de la medianoche del 30 de Junio. Esto significa que para obtener placas actualizadas o el registro de su vehículo, debe presentar el Formulario 2290 para obtener su Anexo 1 sellado actual. El Anexo 1 sellado es importante y debe guardar una copia en su vehículo en caso de que obtenga detenido.

¿Qué es el Formulario 2290?

Se debe hacer el Formulario 2290 para el Impuesto sobre el Uso de Vehículos Pesados ​​(HVUT) si un vehículo pesa más de 55,000 libras. Si un vehículo que califica maneja menos de 5,000 millas al año o menos de 7,500 millas si se usa para fines agrícolas, el Formulario 2290 aún debe presentarse ante el IRS, pero estará exento de pagar el impuesto.

¿Cuándo es la fecha límite para presentar el formulario 2290?

Si su vehículo ha estado en la carretera por más de un año o recién se está poniendo en la carretera por primera vez este mes, la fecha límite para presentar el Formulario 2290 es el 31 de Agosto a la medianoche. Sin embargo, es mejor presentar su Formulario 2290 antes de esa fecha porque el IRS recibe una copia de seguridad en esta época del año y cuanto más espere, más tardará en recibir su Anexo 1 sellado.

ExpressTruckTax es la solución del formulario 2290 para usted

¿Se pregunta dónde presentar su formulario 2290? No busque más que ExpressTruckTax. ExpressTruckTax es el presentador electrónico del Formulario 2290 líder en el mercado que proporciona la presentación electrónica del Formulario 2290 sin estrés en solo unos pocos pasos simples. Simplemente ingrese la información de su negocio, los detalles sobre su vehículo, cómo desea pagar sus impuestos y habrá terminado una vez que pague la tarifa de presentación. Hay varias formas convenientes de pagar los impuestos del Formulario 2290, incluidos EFW, Cheque o Giro postal, EFTPS y tarjeta de crédito o débito.

Al seleccionar EFW (retiro electrónico de fondos), ingresará la información de su cuenta bancaria y tan pronto como el IRS acepte su Formulario 2290, retirará el monto. Si selecciona cualquiera de las otras opciones, deberá realizar algunos pasos más para asegurarse de que su HVUT se pague al IRS. Para cheque o giro postal, recibirá un comprobante que le indicará dónde enviar su pago. Para EFTPS, irá a EFTPS.gov para realizar su pago, pero si no tiene una cuenta, deberá crear una. Para pagos con tarjeta de crédito o débito, deberá ir a la página web del IRS y seleccionar uno de los sitios de procesamiento de tarjetas de crédito enumerados para asegurarse de que se paguen sus impuestos.

Una vez que presente el Formulario 2290 tiene hasta el 31 de Agosto para realizar su pago. Puede parecer que falta mucho tiempo, pero la fecha límite está más cerca de lo que piensas. ¿Qué estás esperando? No se arriesgue a que lo multen por presentar tarde su Formulario 2290. ¡Presente su Formulario 2290 en cuestión de minutos con ExpressTruckTax y vuelva a hacer lo que le gusta!

Get A Sweet Deal With HVUT 2290 When You File Now And Pay Later

Posted on May 11, 2021 by - 2021 Form 2290

Did you know there’s a better way to file your Form 2290 for 2021-2022 Tax Period?

The 2021-22 Form 2290 season kicks off July 1st, but truckers who use ExpressTruckTax can now begin e-filing Form 2290 as early as Friday, May 14, 2021!

Many truckers wait until the last minute to e-file, often causing them to miss the Form 2290 due date. Missing the 2290 due date can lead to a hefty Form 2290 penalty on top of your HVUT 2290 annual fee.

The HVUT 2290 annual fee is calculated by adding:

  • The actual unloaded vehicle weight, fully equipped for service.
  • The unloaded weight of the semi-trailer or trailers, fully equipped in combination with the commercial vehicle.
  • The maximum load weight usually carried on the vehicle, and any semi-trailer(s) used.

What is Form 2290 Filing Like with ExpressTruckTax?

ExpressTruckTax customers can complete their 2290 Form 2021-22 before the start of the regular season. ExpressTruckTax gives customers the chance to file now and pay later.

A huge benefit of this is learning how much is owed in taxes and being able to save up until the HVUT 2290 due date, August 31, 2021! All you have to do to file now and pay later is choose our Pre-File option and pay your HVUT amount by check, money order, or EFTPS.

After completing the Form 2290 process online, customers have the opportunity to opt-in and receive HVUT 2290 due date reminders via email, text, and fax.

Benefits of Filing Your 2021-22 HVUT Form 2290 Now

When you file early, you are being proactive in making sure you are in the front of the line to receive your Stamped Schedule 1! We will transmit all returns filed early to the IRS as soon as they start processing returns on July 1. That means you’ll get your Schedule 1 as soon as possible.
You will also be able to make you HVUT payment any time before August 31, giving you time to save up your funds.
Additionally, by beating the busy season, our 100% US-based customer support team will be able to answer all of your questions instantly! That means no lines and no wait time.

The Most Common IRS Form 2290 Mistakes to Avoid

Posted on March 16, 2021 by - Form 2290

 

There’s nothing worse than having to file your annual truck taxes twice. 

Avoid IRS Form 2290 mistakes this year when you e-file 2290 with ExpressTruckTax.

We’ve got a few tips to make the process as painless as possible and save you from any unnecessary corrections.

Filing IRS Form 2290 before the deadline will save you tons of money, but mistakes could keep you from meeting the Form 2290 due date and cost you a sweet penny.

Avoid frustration and confusion by double-checking some information that commonly delays IRS Form 2290 approval.

The Most Common IRS Form 2290 Mistakes to Avoid

5 Common IRS Form 2290 Mistakes

 Here are some things to be extra cautious about when filing your 2290 Form.

How to Check These Areas For Error

  • 1) EIN (Employer Identification Number) or VIN (Vehicle Identification Number)

A unique EIN is assigned to each company operating in the US as a form of identification for tax purposes. Your EIN should be a string of 9 numbers, presented in this format: 12-3456789.

Since this number looks similar to a social security number, filers often confuse the two, causing the IRS to reject the 2290 Tax Form.

Keep in mind that it takes 10 business days for the IRS to update its database with a new EIN. If you’re applying for a new EIN, do so at least a month before you e-file IRS 2290 to avoid delays.

Your VIN should be 17 characters long and include both numbers and letters. Check your VIN before submitting your 2290 Tax Form. If incorrect, your IRS Form 2290 will be rejected.

The best online tax filing is quick. Don’t waste unnecessary time with mistakes. When you e-file 2290, double-check your Form 2290 and ensure that your EIN and VIN are correct.

  • 2) First Used Month or Filing Year

When filing IRS Form 2290, make sure you use the correct filing year.

Note: If you’ve used an online filing service before, the drop-down menu could be set to a previous 2290 Tax Form file year. Double-check!

Secondly, choose an accurate first used month.

The first used month is the month you first used the truck on the highway during the tax period, which runs from July 1 to June 30 of the next year. Your Truck Tax form is due on the last day of the month after your first used month.

This means if you first used your vehicle in July, as most drivers do during the tax season, then you will need to file your IRS 2290 Tax Form by August 31.

  • 3) Gross Taxable Weight

IRS Form 2290 tax calculations can be tricky, but don’t sweat it. At ExpressTruckTax, our system automatically calculates your owed tax amount. Leave all 2290 tax form math to us.

It’s important to find the best online tax filing service to save yourself time and money. ExpressTruckTax can help!

  • 4) Authorized Signatory Details

It’s super easy to sign your IRS 2290 online. All you need is a 5-digit authorized signature code. Still, no matter how simple it sounds, please just… double-check. 

  • 5) Business Name & Address

You’d be surprised at how many returns are rejected for this information being incorrect!

The wrong business name and address is the most common error on the heavy vehicle use tax form 2290. Don’t let it happen to you!

Double-check your business name and address before submitting your IRS Form 2290.

Why is it so Important to Avoid IRS 2290 Mistakes?

Even the simplest mistake on your IRS Form 2290 can cause serious problems. For starters, your 2290 Tax Form will definitely be rejected by the IRS.

This is a huge time waster and may cause you to miss the HVUT 2290 Tax Form Deadline.

If this happens and you miss the deadline, you’ll need to correct your Form 2290 and file again, attaching an explanation to show reasonable cause for the delay of your heavy vehicle use tax.

There’s no guaranteeing that your statement will be accepted by the IRS, and if it’s not, you’ll face heavy IRS 2290 Tax Form penalties.

The penalty for failing to file IRS Form 2290 by August 31st is 4.5% of the total tax amount owed. Plus, you still have to pay the base HVUT 2290 amount you owe.

In addition, this penalty will increase monthly for up to 5 months, with an additional .54% interest added for each month that it remains unpaid.

Save yourself while you can and double-check your Form 2290 before you e-file 2290 online.

The Best Online Tax Filing Service to Use

ExpressTruckTax makes filing easy. When it comes down to it, we simply don’t believe that filing IRS Form 2290 should be so difficult.

We include an instant error check to help catch any mistakes hidden in your 2290 Tax Form. We also have a 100% US-based customer support team ready to help you every step of the way.

With features like bulk upload, free VIN corrections, and a mobile app, we’re committed to hosting your best filing experience yet.

Sign up for a free account today and you’ll agree that ExpressTruckTax is the best online tax filing option for Form 2290.

3 Easy Ways To Simplify IRS HVUT Payments

Posted on July 13, 2020 by - 2290 Payment, HVUT, HVUT Payment, IRS Payment option, Uncategorized

HVUT payments don’t have to be complicated. Don’t know how much you will owe the IRS? Don’t know how to make your 2290 payment? We can help with that!

Here are our top three tips and tricks to help simplify your HVUT payments.

1. Figure out your HVUT Payment

With the HVUT 2290 tax payment calculator from ExpressTruckTax, you can figure out exactly how much HVUT you will owe the IRS. 

Simply enter your First Use Month and Weight Category and we will calculate precisely how much HVUT you owe! 

Take the guesswork and the stress out of your HVUT tax payment this year!

Tax Calculator

2. Choose the best method to make your HVUT payments

There are three IRS HVUT 290 payment methods available to truckers for the 2020-21 tax year. 

Electronic Funds Withdrawal (EFW)

EFW is just your standard bank account transfer. You’ll need to provide your bank account number and routing number to the IRS. Typically they will withdraw your payment within one or two business days.

Electronic Federal Tax Payment Service (EFTPS)

EFTPS is a service offered by the IRS to simplify tax payments. It is a highly secure solution that allows you to schedule out payments in advance

If you choose EFTPS to pay your IRS 2290 payment, you’ll need to create an account by enrolling in the program here.

Check or Money Order

If you choose to make your 2290 payment by check or money order, you’ll need to remember to mail it to them. The responsibility to be on time is entirely on you.

Mail your check or money order to:

Internal Revenue Service,

P.O. Box 804525,

Cincinnati, OH 45280-4525

3. Choose the right 2290 E-file provider

Many e-file providers have confusing processes for filing out HVUT returns. In most cases, the structure makes it hard to know how much you will need to pay them and how you can pay the IRS.

However, with ExpressTruckTax, everything is upfront. Our pricing is transparent. Our interview-style e-filing process makes filing easy. And we make sure you know how and when you need to pay the IRS.

Plus, if you have any questions you can always call our 100% US-based customer support team!

Pay Your HVUT Your Way On Your Time

Posted on May 1, 2020 by - IRS 2290 payment

You’ve taken the time to e file, before the start of the 2020 Form 2290 tax season, now you are wondering what comes next. We have worked alongside the IRS for years to ensure you always come out on top. ExpressTruckTax allows you to pay your Heavy Vehicle Use Tax, also known as HVUT 2020, the way you want. It’s your money, so who are we to tell you how to use it?

Payments We Accept

ExpressTruckTax accepts HVUT 2020 payments via credit card, debit card, direct debit, electronic funds withdrawal (EFW), Electronic Federal Tax Payment System – EFTPS online, or by check/money order. Making your IRS 2290 payment is easy with ExpressTruckTax. There are options for your IRS 2290 payment that aren’t offered everywhere, so having us in your corner this year is the correct way to e file 2290.

Direct Debit or Electronic Funds Withdrawal (EFW)

When you use this method you are authorizing the IRS to debit your owed amount from your account. This method requires you to provide your bank account number and routing.

It is important to double-check the account information to avoid possible penalties for late payment. The IRS typically debits accounts within 24-48 hours, so double-check the amount in your account to avoid your payment being declined.

Electronic Federal Tax Payment System (EFTPS) 

ExpressTruckTax clients can pay 2290 online with the Electronic Federal Tax Payment System (EFTPS). EFTPS online is a system of paying federal taxes electronically using the Internet or phone. EFTPS online allows users to schedule payments, in advance. When this method is selected you will automatically be directed to the EFTPS online website. It can take up to 10 business days to create an account, so for those choosing to wait until the last minute this method may not be the best idea.

Check or Money Order

If choosing to make an IRS 2290 payment with a check or money order there is a certain procedure you will have to follow and pay close attention to.    We’ve listed the steps for your HVUT 2020 convenience:

  • Make your check or money order payable to the United States Treasury. Write your name, address, EIN, ‘IRS Form 2290’, and date (as entered in box 3) on your payment.
  • Detach your 2290-V and send it with your payment. If you filed electronically, do not submit your Form 2290 or stamped Schedule 1 with your payment voucher. (*Do not staple your payment voucher, payment, or Form 2290 together.)

Send your payment and the 2290-V voucher to: Internal Revenue Service,
P.O. Box 804525,
Cincinnati, OH 45280-4525

We Got You Covered

Whether you choose to make an online payment for your HVUT 2020 using EFTPS online, pay 2290 with credit card or debit card, go the direct debit route, try the Electronic Funds Withdrawal payment method, or choose the classic check or money order method, ExpressTruckTax has you covered.

When you choose to file your 2020 Heavy Vehicle Use Tax Form, HVUT 2020, before July 1st you make the wisest decision for your time and money. Our goal is to save you money and support you while you do what you love. The half-million clients that file with ExpressTruckTax can tell you just how much we put you and your family’s needs high on our priority list.

Ready to file your 2290?

How To Understand The First Use Month On The Form 2290

Posted on February 26, 2020 by - First Used month

The IRS Form 2290 (otherwise known as the Heavy Vehicle Use Tax or HVUT), like all federal tax forms, can be very confusing to understand and file correctly.

For instance, the yearly Form 2290 filing season begins on July 1, and ends on June 30 and the final deadline to file Form 2290 is August 31.

But if you purchased and started using a new truck at any point this year, the Form 2290 due date for that new truck would be the end of the month after you started using it.

Let’s cover how the HVUT 2290 tax works.

What is the 2290 tax?

The Heavy Vehicle Use Tax (HVUT) helps fund infrastructure maintenance across the United States. 

HVUT 2290 filing is a requirement for all vehicles weighing more than 55,000 pounds that drive 5,000 or more miles a year.

This includes specialized heavy vehicles like big rigs and commercial coaches that put more stress on roadways than regular motor vehicles. 

Trucker using truck for IRS Form 2290 first use month

IRS form 2290 first use month

In the simplest terms, the first use month policy means that if you started using a new truck in January of 2020, your Form 2290 due date would be February 28, 2020. And if you starting using a truck in September, your Form 2290 due date would be October, 31.

Obviously, if you bought a new truck and didn’t actually start using it on public highways, you would not need to file your 2290 yet. You would wait until the end of the month after you actually began using it.

What this means is that your Form 2290 due date will probably be different than that of many other drivers.

But since the 2290 HVUT calendar year runs from July 30 through July 1, many drivers start using their trucks in July and their Form 2290 due date is August, 31.

File your 2290 today!

With ExpressTruckTax, the 2290 filing process is simple, affordable, and you get your Stamped Schedule 1 in minutes!

This Is What Actually Happens If You Don’t File IRS 2290

Posted on February 6, 2020 by - 2290 deadline, Hvut 2290, irs 2290, IRS form 2290

The IRS Form 2290 deadline is creeping up.

Don’t end up blindsided. Filing IRS 2290 for 2020 by the 2290 deadline is critical, not only to stay compliant but also to remain in operation and avoid fines.

Still not convinced? Don’t wait around until the end of August to find out for yourself, we’ll tell you what will happen right now. Here’s a rundown of what exactly what happens when you miss the IRS 2290 deadline:  

What Happens If You Forget About IRS 2290?

IRS 2290 Deadline

Normally, the annual IRS 2290 deadline is August 31st.

We’re off to a good start. You’ve got a couple more days to file than normal.   But you’re busy. What if you still can’t find the time or motivation?  

IRS 2290 Penalties

Here’s some motivation:

If you miss the IRS 2290 deadline, you’ll face penalties. Let’s say you simply forget to file.

First, you’ll need to pay the IRS 2290 late filing penalty, which is 4.5% of the total HVUT 2290 tax amount you owe.

Then, you’ll face an additional .54% of interest each month that passes without you filing.

On top of that, you’ll still have to pay the original HVUT 2290 amount you owe whenever you do file.

If the reason for late filing was an error on your original IRS 2290 return, you may be able to avoid penalties altogether. You can attach an explanation to your corrected IRS 2290 for 2020 filing, showing reasonable cause for the delay.

Even this, however, does not guarantee that the IRS will accept your statement and save you from the penalty.   

Avoiding Form 2290 Penalties

There’s an easy fix for avoiding IRS Form 2290 penalties: File HVUT 2290 before the 2290 due date!  

The Form 2290 deadline is usually August 31.

You really have no excuse not to file on time. Especially with ExpressTruckTax as an option.

ExpressTruckTax allows you to file IRS 2290 for 2020 online quickly and easily.   

Plus, you’ll get your Schedule 1 just minutes after you’ve submitted your return. It doesn’t take long, and you can file from anywhere. Knock it out today and forget about the IRS 2290 due date until next year.

File your IRS 2290 today!