What You Need to Know About IRS Form 2290?

Posted by Admin on 23. May 2013 11:50

All the truck owners who wish to run the transport business legally have to bind to certain rules derived by the Local Department of Motor Vehicles who holds the control in issuing the permit. One of the important mandatory requirements to adhere to the derived rules is paying the truck tax annually. To pay the tax, one should file Form 2290 or IRS HVUT (Heavy Vehicle Use Tax) to the local responsible department. The Tax which will be paid by each individual is used for a good cause like Infrastructure development, funding for national roadways projects including the road maintenance and its administration. There is an option of e-filing Form 2290 for each fiscal year.

Weight of the truck which you operate really matters to file the Tax return and the prescribed weight of vehicle only comes under the scope of IRS HVUT. If you are operating a vehicle which weighs more than 55,000 pounds, you must pay file tax return 2290 to IRS to get the stamped schedule-1 which enables Local Department of Motor Vehicles to grant the permit to your vehicle to operate on National Highways legally.

Dedicated agents who are familiar with the norms of the Department of Motor Vehicles can help if you are seeking a bulk filing of IRS Form 2290 HVUT Truck tax. The agent will help you to navigate through the process and e-fling by providing the access to the necessary accessories.

E filing IRS Tax form 2290

What is Form 2290 exactly? How is the tax calculated?

Form 2290 is nothing but the form used to file the Truck tax or Heavy Vehicle Use tax. It is an excise tax which needs to be paid to the governing body in this case its IRS. There are many factors which will be considered for calculating the Tax for your vehicles. The factors are listed as below –

1-      Whether the vehicles are used for over 5000 miles or not.

2-      Vehicle category.

3-      The Mass/Weight of the Vehicle.

To help the needs of the e filing aspirants, we had set up the proven, robust e-filing service which makes clients feel comfortable. We are professional E-filing service provider who has clients across the country with proven expertise. Hassle free service and IRS recommended methods of e filings are the prime motto. There are guaranteed benefits to the clients, which include a special pricing offer for the tax professionals and owners who would like to have a long term business relationship with us. We also provide dedicated customer service through phone or email or chat to resolve any kind of issues which may arise while filing Form 2290.

Figuring out the accurate tax due amount is the real challenge and difficult one, but we deal it with an ease by calculating the exact amount.  Unlike others there are no initial registration charges if you want to be associated with us. Our renowned and unique service attracts the clients to file their ETAX 2290 for many years to come. Even the payment mode and options are very flexible. Our Pricing structure really has set a standard in E-filing market, where we cut down the price keeping the all the taxpaying community in mind. ETAX 2290 is a company which is been trusted by many clients to file their Truck Tax returns. ETAX 2290 are the true leaders and giants in E filing world. No second name for the service they offer except ETAX 2290.

How to calculate Heavy Use Truck Tax Rate for 2290 for 2013-2014

Posted by Admin on 12. April 2013 21:07

Form 2290 as you all are familiar with is the official IRS form used to collect excise tax on heavy vehicles. It is often referred to as the truck tax or Heavy vehicle use tax – HVUT for short. This form allows the government to collect money from every truck owner and operator and in turn that money contributes to various sources. Some of the uses of that revenue are maintaining the roadways and highways throughout the country, assisting in developing construction and contributing to organizations moving toward a more stable and useful vehicle transportation system.

The normal tax amount for the HVUT on a truck 75K or more in weight is $550.00 for an entire filing season which normally runs from July-June of the given year. For instance the upcoming filing season is for the HVUT of July 2013 to June 2014. The IRS mandates that all Truck owners file a 2290 by August 31st. If any trucks are purchased after that date the tax will be prorated appropriately. Traditionally the tax was paid by visiting a local IRS office, waiting in a long line and filing in paper but the IRS is transitioning to E-filing and with that being said ETax2290 is here to help. Our site is IRS authorized and our staff is knowledgeable in all areas of e-filing and specializes in IRS Form 2290. Don’t wait until the last minute to efile Form 2290. Visit our website today or give us a call for more information.

Latest IRS Reminder For Truckers Regarding Form 2290 Due Date

Posted by Admin on 29. August 2012 16:31

The IRS Announces a Grace Period for Form 2290 E-filers Until September 7th

Posted by Admin on 15. August 2012 21:04

The Internal Revenue Service has just recently released a statement saying that they will be shutting down their efiling servers during Labor Day Weekend. Now, what does this mean? The IRS wants all e-filers to take note that they will have up until 1pm (Eastern Time) on August 31st to complete their Form 2290’s if their vehicle’s first month of use was either in July or August. If the e-filer submits their Form 2290 by 1pm on August 31st then they will be able to receive their Stamped Schedule 1 by Tuesday, September 4th when the servers are up and running again. However,  the IRS is giving a three day grace period for e-filers unable to file their Form 2290 by 1pm on August 31st. E-filers will not be penalized if they are able to electronically submit their Form 2290 to the IRS by September 7th, 2012.

Please note that this server shut down will not affect those intending to paper file their Form 2290. Therefore, all paper filings must be postmarked by August 31, 2012 or they will be considered delinquent and a penalty will be assessed. 

ETax2290 encourages all of our customers to make use of their time and start finalizing their Form 2290 submissions before it is too late. As before mentioned, the IRS will not be accepting Form 2290s after 1pm on August 31st and will continue to accept them on September 4th. ETax2290 asserts that e-filing is the quickest and most efficient means of submitting a Form 2290. It is easy to file with an online service and Stamped Schedule 1’s turnaround times are quite quick! Read more benefits of efiling now

Should Filers E-File a Form 2290 for their Suspended Vehicles?

Posted by Admin on 8. August 2012 21:34

Customers typically question whether it is necessary for them to e-file Form 2290 for their suspended vehicles seeing that they would not have to pay the heavy vehicle use tax anyways. Well, the Customer Support Team of ETax2290 asserts that filers should prepare to tax for all vehicles under their authority, regardless of the fact that some of the vehicles may be considered “suspended.” The Internal Revenue Service attempts to keep a running list of all the heavy vehicles in our nation, whether they are in operation or not. Therefore, it is important that heavy vehicle operators file the Form 2290 for every single vehicle that they own. Although vehicles that are not in use are considered “suspended” vehicles, if at any point they are used for transporting goods again and exceed 5,000 miles in a year, then the heavy vehicle use tax must be paid on those vehicles’ behalf. 

To keep customers safe and clear of penalization by the Internal Revenue Service, ETax2290 suggests that filers prepare a Form 2290 for all of their vehicles through our e-filing service. There is, in fact, a benefit for filing for all vehicles: in the circumstance that a vehicle exceeds more than 5,000 miles in a year (7,500 miles for agricultural vehicles), a heavy vehicle owner/operator will have to pay the heavy vehicle use tax and they can do so easily through our service by creating an “Amended Return.” An “Amended Return,” is basically a revision to a previously filed form as it relates to an increase in a vehicle’s taxable gross weight or the exceeding of mileage for a suspended vehicle. “Amended Returns” are a lot easier to complete when there is already a record of vehicles. 

ETax2290 maintains the objective of making e-filing easy, efficient and safe for our customers. With that being said, it should be assumed that we have made and continue to improve our e-filing system with our customers’ best interest in mind. We would not lead our customers astray on this one because it is of no benefit for us to have our customers penalized by the IRS.  Therefore, we encourage all customers to file the Form 2290 for all their vehicles, even if they are out of operation.

Proof of Payment After Completing Your Heavy Highway Tax Form 2290 Online

Posted by Admin on 7. August 2012 22:09

Most of the time, customers can get away with renewing their plates and tags by simply showing the local Department of Motor Vehicles’ office their Stamped Schedule-1. As the Internal Revenue Service claims, the Stamped Schedule-1 is typically the only proof of payment needed to show that a heavy vehicle owner/operator has, in fact, paid and completed their heavy highway tax Form 2290 online. However, no one state, or for that matter, no one Department of Motor Vehicles’ office is the same. Some demand additional proof of payment, which the Internal Revenue Service also cites on their website. No need to fret, the ETax2290 team is here to help our customers!

To stay safe, the ETax2290 Customer Service team suggests to all our customers that they take two proofs of payment to their local Department of Motor Vehicles’ office. Most DMV offices accept the Stamped Schedule-1, which filers are able to receive about twenty minutes after e-filing the Form 2290 Online through our service. The Stamped Schedule-1 basically lists all the vehicles that a filer has paid the heavy vehicle use tax for and their weight category, so that the DMV can keep accurate records of all of the heavy vehicles in use in our country. Under rare circumstances, a second proof of payment may be required and this secondary proof of payment can be anything that shows the verified financial transaction of a customer’s payment to the Internal Revenue Service for a 2290 Online. We tend to suggest taking a bank statement to the office as the second proof of payment because it vividly shows whether the 2290 Online tax payment had been made or not. 

The ETax2290 thought this would be a good topic to cover because we never want to lead our customers astray. In most situations, the Stamped Schedule-1 is all that is necessary in order for a heavy vehicle operator to receive their necessary tags from the local DMV; however, there have been reported instances when they ask for more than that. Therefore, we thought it best to notify all our customers about the potential situation of them having to show more than one proof of payment.

Change in Business Address

Posted by Admin on 6. August 2012 23:35

ETax2290 completely understands. Your business was booming, you were reeling in all the profits from your company’s hard work; therefore, you decided to move to a larger and more prominent location. Like we said earlier: we understand. Companies constantly pack up their old offices and end up unpacking in a new space with more offices and larger desks. And just because your business has made such large improvements does not mean your company should lose out on refunds or be penalized because the Internal Revenue Service was not completely aware of your transition. Therefore, ETax2290 strongly urges for all customers to ensure that their business information, especially address, is up to date in the IRS’s records. For those who do not know how to do so, we have decided to create a walk-through tutorial!

ETax2290 allows customers to change their business information, including business address, while they e-file a form 2290. And it is actually quite simple. When a customer is filling out the beginning portion of their Form 2290 where they input all information related to their business (business name, address, EIN, contact number, etc), they should accurately fill in all the necessary information. Once they click “Save & Continue” they will approach another screen that asks questions like the filing year and first month of use. Another question asked is “Address Change,” if the filer inputs an address dissimilar to the address filed with last year, then the filer must select this option. Once they do that, the new address will be recognized as the official address of the business.

Now, if a customer decides that they do not want to change their address through our website we have listed a few other options below:

•Form 8822-B: A filer can submit the Form 8822-B to the IRS in order to request an address change.

•Notification in writing: Customers are also given the option of writing in a request for change. They must simply send a written statement to the IRS with their full name, old address, social security number and EIN.

•Oral Notification: Customers are able to change their address in person or over the phone, all they must do is provide the correct information requested by the service employee.

•E-notification: IRS approved applications like “Where’s My Refund” enables submission of new address information.

•USPS: If you had provided your new address information to the U.S Postal Service, it retains in its National Change of Address database and IRS automatically updates its database with the same. However, it’s still a good idea to notify IRS of your new address even if you have informed the USPS.

Settle your IRS debt on your own and live debt free - Avoid being under the gun

Posted by Admin on 6. August 2012 20:26

Owing debt to the IRS is not similar to owing debt to the credit card companies and the other financial institutions. When you don’t pay your taxes for a long time, you accumulate them and this is when you start incurring debt for which the IRS may run behind your back for recuperation of the money. Just as you can settle your credit card debt, you can even settle or negotiate your IRS debt through a professional and through certain steps on your own. However, as there are debt consolidators who can help you relieve yourselves of your debt burden, you can never consolidate your IRS tax debts. Have a look at the steps taking which you can pay off your IRS tax debt and avoid a hit on your credit score.

• Calculate the total amount of money that you owe: The first step that you need to take is to calculate the total amount of money that you owe the IRS. Unless you know where exactly you stand, you can never take steps to reduce your IRS tax debt. Gather all the tax documents and the slips that have a proof of the fact that you’ve not paid off a number of bills. The IRS will only accept a debt negotiation offer after checking your present financial condition so that you don’t suffer while making the payments after a portion is waived off.
• Calculate your total income: You can even calculate your total income so that they know your affordability. The more you’re sure about your affordability, the easier it will be for the IRS to assess your payment ability and check on the amount that you should pay them back.
• Get the Offer in Compromise form: There are websites from which you can obtain the Offer in Compromise (OIC) form and you should ensure downloading this form from an authentic website so that you may complete this process lawfully.
• Fill out the form carefully: In this Offer in Compromise form, you will need to give your contact information and you should indicate the tax periods in question. You also need to show the circumstances that are keeping you from making the timely payments on your tax bills. You have to meet the low income guidelines too in order to be able to settle your IRS tax debt.
• Mail the entire thing: After you complete filling out the form, you have to mail them two checks, one for the first payment and the other for the application fee to the IRS. This will make the entire thing successful.

So, when you’re in IRS tax debt, take the above debt negotiation steps on your own so that you can avoid being harassed by the collection agencies to whom the IRS sells off your accounts.

Written by guest writer Patricia Garner.

Keeping Track of a Form 2290 Submission

Posted by Admin on 3. August 2012 22:16

ETax2290 is one of the approved e-filing service providers that can offer live and up-to-date notifications for a customer’s submission. ETax2290 thought it would be quite beneficial for customers to be able to track the progress of their submission as it relates to submitting it to the IRS and whether their Form 2290 submission has been approved or declined. We make the tracking process so easy that anyone could do it at anytime from anywhere, as long as they have access to the Internet! So follow our instructions as we inform our customer base how they can keep track of their submission’s status. 

If a customer has selected to pay the total tax due to the Internal Revenue Service by way of direct debit or Electronic Federal Tax Payment System, then our system will provide a reference number for the customer. It is this reference number that allows a customer to keep track of their submission status as well as download their Stamped Schedule-1 from the ETax2290 website when they are made available. The reference number should also be kept in case the customer must contact the ETax2290 customer support team, the reference number allows us to better assist our customers and with much better efficiency. 

Now, here’s what you do. Once a customer has received their reference number after efiling a form 2290 they are at liberty to check the status of their submission on our website. On the ETax2290 homepage, there is a link entitled, “Check Submission Status,” click that link. The next screen will simply ask for a customer’s reference number and once they input their submission identification code, our system will give the latest update on the customer’s submission: whether it has been submitted to the IRS, approved by the IRS or declined by the IRS. If the submission has been approved, then the customer can elect to download the Stamped Schedule-1 from our website once they go back to the home screen. From the home screen, the customer must click “Download Stamped Schedule-1” and then input their reference number and user account information. 

Filing an Amended Form 2290 for 2012-2013

Posted by Admin on 1. August 2012 23:23

There are quite a number of instances why a previously submitted Form 2290 may need changes: vehicle identification number corrections, taxable gross weight increase, suspended mileage surpassed, etc. The Internal Revenue Service requests that all taxpayers make necessary changes to previously submitted Form 2290’s so that the appropriate tax is paid and to avoid audits of trucking businesses. ETax2290 makes it simple for our customers to amend their already e-filed 2290 Form for 2012/2013. This article will walk our e-filing customers through the process of amending a previously submitted Form 2290 so that the IRS has up to date records and payments.

First and foremost, customers need to understand when an amended Form 2290 is necessary. Some common reasons for amending a Form 2290 include: vehicle identification number corrections, taxable gross weight increase and mileage exceeded. Customers quite often input the incorrect VINs for their vehicles without noticing until it is too late. The IRS requires that VINs accurately match the proper VIN of a vehicle and if not, the Form 2290 will be rejected. Heavy vehicle owner/operators tend to get the max weight of their vehicle re-evaluated by the necessary officials and any increase or decrease in weight can affect the total tax amount due. Therefore, whenever an operator gets a new, official weight report it is necessary for the owner to update their Form 2290. Owner/operators have the option of listing any one of their vehicles as "suspended" if the vehicle is expected to travel less than 5,000 miles annually or 7,500 miles if it is a vehicle used for agricultural purposes. However, if at any point during the year those vehicles exceed that "suspended" mileage count, the owner must amend the Form 2290 and pay the heavy vehicle use tax as it relates to the month of first use.

In order to amend a Form 2290 through our e-filing service, it is important to know that your Form 2290 must have been previously submitted through our service so that we can directly change the information from the Form 2290.  If the customer previously submitted their Form 2290 through our service, then they may login and select the business for which the vehicle is registered under. Our service will then bring the user to a “Profile History” screen that will list all the different Form 2290s filed for that particular business. Users are unable to simply “edit” the a previous filing because they have already submitted and received the necessary documentation for that filing; therefore, the customer must create a new filing with the same business information and then note this new filing as an “Amended Return.” This will automatically signal to our system that a Form 2290 has previously been submitted and changes are needed. The user can then carry on completing the new filing and submit as they have done before.