Tag: irs penalties

How To Avoid Form 2290 Penalties!

Posted on April 27, 2023 by Marcela De Vivo - 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!

File Form 2290 Today August 31st to Avoid Penalties from the IRS!

Posted on August 31, 2022 by Marcela De Vivo - 2290 penalties, Avoid IRS penalties, Form 2290 deadline today, HVUT Filing deadline today

The Form 2290 deadline is officially here. Have you filed your Form 2290 yet? If not, there are some important things you must know.

What is Form 2290?

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

Why is Form 2290 Important?

By filing Form 2290 to the IRS you will receive a Stamped Schedule 1. This is used to get the tags and registration for your vehicle.

When is Form 2290 Due?

When filing Form 2290 it is important to know that the Form 2290 tax year goes from July 1st to June 30th of the following year. A vehicle’s Stamped Schedule 1 expires on June 30th, so as of July 1st drivers no longer have a current Stamped Schedule 1. It is important to File Form 2290 for July as the beginning of the upcoming tax year and you have until August 31st to pay the HVUT to the IRS. If you fail to file Form 2290 and/or pay the HVUT by August 31st you are considered late.

What happens if you Fail to File Form 2290 or Pay the HVUT?

If Form 2290 is filed late or the tax is not paid by the August 31st deadline, drivers will be charged late fines, and the fine for not filing Form 2290 actually comes out to be greater than the fine for not paying the HVUT.

For every month the Form 2290 due date is missed there will be a fine of 4.5% of the total tax due for up to five months. If there is underpayment for the Heavy Vehicle Use Tax, there will be a penalty of 0.5% of the tax due. Additional interest charges of 0.54% will be added each month that Form 2290 is not filed. This is why it is important to not only file Form 2290 but pay the Heavy Vehicle Use Tax as well.

Why E-File with ExpressTruckTax?

Why risk being penalized for either forgetting to file Form 2290 or pay the HVUT when you can file with an easy-to-use Form 2290 e-file provider like ExpressTruckTax. With ExpressTruckTax simply enter your business information, vehicle information, and payment information. To make sure you get your Form 2290 filed and your HVUT paid at the same time, ExpressTruckTax now offers an option where you can pay both your HVUT and your filing fee at the same time. This way you will not risk being late with either.

Today is the last day to file, the August 31st, 2022 deadline. What are you waiting for? File with ExpressTruckTax today and avoid getting fined or penalized!

A Helpful Guide for Avoiding Form 2290 Penalties

Posted on August 19, 2022 by Marcela De Vivo - Avoid IRS penalties, E-file form 2290, Form 2290 Penalties, HVUT Penalties

Have you ever been fined for being late with your Form 2290 (filed for vehicles weighing 55,000 pounds or more), your Heavy Vehicle Use Tax payments, or were caught without a Stamped Schedule 1? If this has not happened to you, it is still essential to ensure that it doesn’t. In this guide, you will find helpful information for avoiding penalties from the IRS regarding Form 2290.

Know Your First Used Month

When filing Form 2290 it is important to know your vehicle’s First Used Month (FUM). The FUM of a vehicle is determined by the month it is first put on the road. When Form 2290 is filed, the First Used Month must be listed and you have until the end of that month to file Form 2290 to the IRS. You have until the end of the next month to make the tax payment, however. For example, if your First Used Month is in October, you have until the end of November to make the tax payment to the IRS. This applies to vehicles that have been on the road for less than a year.

For vehicles that have been on the road for over a year or are first being put on the road for the first time in July, the vehicle’s First Used Month is July and the tax payment is due by August 31st.

File Now Pay Later

The Stamped Schedule 1 is important because it allows you to get tags and the registration for a vehicle. Once Form 2290 is filed, you will get a Stamped Schedule 1 as proof of filing. This means that you can easily avoid penalties by filing Form 2290 and if you don’t have the money to pay the tax yet you can wait until the deadline to file. This way if you forget to pay the tax before the deadline, you will still have a Stamped Schedule 1 and if you get fined it will be a lot less than it would have been if you hadn’t filed at all.

Pay When You File

Another option that can help you avoid penalties is to pay the HVUT tax at the same time you file. File your Form 2290 and pay your filing fee and tax to get them both out of the way at once. This way you not only get your Stamped Schedule 1 but you also get your tax paid and won’t forget to pay it later.

File With ExpressTruckTax

By filing with ExpressTruckTax you have the option to pay later or to pay when you file. It is designed to be user-friendly with lots of convenient options that make your filing experience a breeze. Make sure you keep up with when the deadline to file is. When you sign up and file with ExpressTruckTax we will make sure to remind you when it is time to file so that you don’t miss the deadline. The ready return feature is also available to returning filers. You will sign in and you can use all of the information from your last filing to generate your Form 2290 and file quickly. What are you waiting for? Take advantage of these amazing features available through ExpressTruckTax and file before the August 31st deadline today!

Did You Forget To Make The HVUT Payment?

Posted on September 8, 2021 by Marcela De Vivo - Avoid IRS penalties, E-file form 2290, HVUT Payment, HVUT Penalties

The 2021-22 Form 2290 tax season has come to an end. Your Form 2290 and HVUT payment needed to be sent to the IRS before the August 31st deadline.

If you filed the Form 2290 on time and sent your HVUT payment to the IRS before the deadline, then congratulations! You’re all done for this year!

But when you filed the Form 2290, did you also remember to go make your payment separately to the IRS? If not, it is important to make the payment as soon as you can in order to avoid further unwanted penalties.

What Happens If The Payment Is Late?

If your HVUT payment is late, then the IRS will be issuing penalties. Your HVUT payment needed to be made or sent out by the end of the day on August 31st to be considered “on-time”.

But luckily, as long as you filed your Form 2290 on time, the penalties for a late HVUT payment won’t be as high. However, it is still important to make your payment as soon as possible.

The longer you wait to make the payment, the higher the penalties will be, and no one wants to pay more than they have to!

How To Make The Payment

When you filed the Form 2290, there was a section where you chose which payment method you intended to make the payment with.

Here are the different payment options that the HVUT payment can be made with:

Debit and Credit Card- to make your HVUT payment using your debit/credit cards, you must make your payment at IRS.Gov/PayUsingCard
Electronic Funds Withdrawal (EFW)– a bank account transfer. Your bank account and routing numbers are required and the payment will be withdrawn automatically within 1 or 2 business days
Electronic Federal Tax Payment Systems (EFTPS)– The IRS offers this payment method to simplify tax payments. You will have to create an account here and enroll in the program.
Check or Money Order– You will have to mail out your check or money order for this option. You will also have to include the Form 2290-V along with the payment. Mail it to the following address:

ExpressTruckTax Is Here To Help!

Even though you can’t make your HVUT payment through ExpressTruckTax, our customer support team will be happy to answer any questions you may have about Form 2290 and making the HVUT payment.

Visit ExpressTruckTax here or give the support team a call at 704.234.6005 for any questions or assistance you may need! We are always here to help!

Free Features From ExpressTruckTax That Make Filing Form 2290 Easier

Posted on August 25, 2021 by Marcela De Vivo - E-file form 2290, IRS authorised e-file provider, stamped Schedule 1

The Form 2290 deadline is less than a week away. It is important that you file the Form 2290 and make the HVUT payment before August 31st, 2021 to avoid unwanted penalties.

To avoid long delays in your return processing and receive your stamped Schedule 1 within minutes of submission, the best option is to e-file.

But which e-filing program should you use? It’s important to find one that’s affordable with the most bang for your buck,

ExpressTruckTax offers many great features for a filing fee as low as $9.90!

Free Features ExpressTruckTax Include

Features that simplify the process

ExpressTruckTax offers a large number of features at no extra cost. These features are provided in order to make the process easier and quicker to complete.

Some features that help to simplify the filing process include Multi-user access, Auto-generated Form 8849s, Bulk information upload, and the use of our free mobile app.

ExpressTruckTax also allows filers to copy last year’s return if they have filed with us. This way, if none of the information has changed, you are able to just resubmit the form without having to reenter the information every year!

Features to check for correct information

To help ensure that the tax return is accepted by the IRS, ExpressTruckTax offers features to make sure all your information is correct.

No one wants to deal with the hassle of having to resubmit their Form 2290 because it was rejected by the IRS. To avoid rejection, it is important to make sure the information is correct on your Form 2290.

Some features that ExpressTruckTax offers to help avoid rejected returns include instant error checks, Free VIN corrections, and a Free VIN checker.

If the return is rejected, our Express Guarantee is our assurance that, with the help of our support team, we will get you Form 2290 accepted or your money back!

File With ExpressTruckTax Now!

ExpressTruckTax has been the industry-leading IRS-authorized e-file provider for years. Our support team knows all the ins and outs of e-filing Form 2290 and are happy to help.

Our support team offers help and guidance in both English and Spanish. The team has also extended their hours and are available to help 8am-7pm Monday-Friday and 9am-1pm Saturday/Sunday (8/28-8/29 only).

To contact our team, give them a call at 704-234-6005 or send them an email at support@expresstrucktax.com.

To sign in or register with ExpressTruckTax, click here and start filing your return now!

This Is It! The Form 2290 Deadline Is Here!

Posted on August 31, 2020 by Marcela De Vivo - Form 2290 Deadline

The 2020 Form 2290 deadline is today! There’s no more time to procrastinate. Failing to file by midnight will mean serious IRS HVUT penalties and could even mean the suspension of your IRP registration.

If you fail to file, an additional 4.5% of your owed tax amount will be tacked on. And since an up-to-date stamped Schedule 1 is required for IRP registration, your IRP could be suspended if you wait too long.

Meet your 2290 Deadline with ExpressTruckTax

We make it possible for truckers to file Form 2290 on time. With ExpressTruckTax, you can file anytime and anywhere.

It takes less than 5 minutes to file with us, and we provide step-by-step instructions along the way.

Our returns are usually accepted by the IRS within minutes, meaning you will get the stamped Schedule 1 almost in minutes. By comparison, paper filing can take weeks.

And, with our ExpressGuarantee, you can be sure your 2290 will be accepted by the IRS, or we will refund your filing fee. Our 100% US-based customer support team will also do everything they can to fix any errors you might have.

They are working extended hours until midnight tonight, so you can be sure to get your 2290 filed correctly. Call 803.234.6005 to have your questions answered in English or Spanish.

Pricing starts at just $9.90 for a single truck.