Category Archives: IRS updates

Important Update for CPA and return preparers – PTIN applications and renewals for 2020 are now being processed!

Greetings dear truckers! It’s once again time for an update regarding your taxes and renewals. It’s a busy start of the year after the IRS was on a long shut down until it resumed services. It’s time to remind you of some deadlines and renewals up ahead. January 31st, 2020 will be a deadline for paying your Form 2290 taxes for trucks purchased in the month of December 2019. Also, its time to renew your PTIN’s our dear tax preparers.

So The IRS recently started to accept applications for New PTIN registrations and renewals. The Preparer Tax Identification Number or PTIN needs to be obtained by anyone who prepares or assists in preparing a federal tax return for compensation. So where to renew or obtain a new PTIN, please visit the federal website https://rpr.irs.gov/. If going online is not an option, you may certainly download the form by following this link https://rpr.irs.gov/ and apply at your nearest IRS office. For tax preparers who already have a PTIN your PTIN has expired on December 31st, 2019 and it’s up for renewal.

For 2290 renewals it’s time to report vehicles purchased in the month of December before January 31st, 2020. Repot your vehicle under a prorated basis and get your schedule-1 copy for the tax year July 2019 through June 2020.

If this is the first time filing with us for your 2290’s here is a small walkthrough of how to file using our website.

  • Visit www.truckdues.com, register and log into your account and start a new return
  • Select your business, and check the box which says “2290 taxes”. Then select the tax year as July 2019 – June 2020 and select the first used months as January 2020
  • Over the next page select taxable vehicle if you are going to operate the vehicle over 5000 miles else report your vehicle under suspended (exempt from tax) category
  • Over the next page select “add vehicle” to enter the trucks VIN number and taxable gross weight (truck, trailer and max load it can haul).
  • Proceed further to select the mode of payment to pay the taxes if your vehicle is taxable else you will be directed to the service fee payment page directly
  • Once after paying the service fee click “Transmit to IRS” box to submit your form to the IRS and you would receive the schedule-1 copy within 15-30 minutes into your email

Our job of keeping you posted is done. Don’t rush up at the last moment. Hurry up! And complete your renewals and registration now! Keep going adios from us.

The IRS e-file service is finally up and running!

Hello dear truckers, Hope our wishes reached you! With great kick start for the year and we hope it’s been quite good so far for you. Yet again it’s time for our timely updates for you and we have two things to inform you. Being at the start of the year we could see that most of our customers are buying and trading trucks for a fresh start as an upgrade. Any vehicles bought in the month of December and vehicles on road starting December 2019, it’s time for you to file your form 2290’s under prorated basis to get your schedule-1 copy for your license plates before January 31st, 2020. File your Form 2290’s right away and get your schedule-1 copies into your email today. Why wait when you can do it now.

The other great news is that the IRS has finally resumed its e-services starting today and any returns filed during the downtime December 26th, 2019 to January 6th, 2020 will receive your schedule-1 copies by today. Any Form 2290 tax returns filed through www.TruckDues.com will now be processed immediately and deliver your sch.1 copies to your email in no time which is indeed helpful to have your tags renewed. So the IRS is on the run aren’t you? File your 2290 taxes today.

TruckDues has rated to be one of the most reliable websites who offers 2290 e-file services to our ever hardworking trucking community at a much affordable cost, as e-Filing begins here as low as $7.99. TruckDues is dedicated to serving millions of owner-operators with utmost priority and is available at (347) 515-2290 for any further assistance with your HVUT Form 2290 needs. Happy trucking.

Form 2290 filing options to deal with the pro-rated filings due by January 31, 2020

Hello there truckers! Hope you rocked the New Year’s Eve and yet again it’s time to start fresh and move forward. Truck dues wishes you a happy and prosperous year ahead. Most of your truck tags are up for renewal and the common question that arises is “Do we need a schedule-1 copy for renewal?” well yes! But the most common question that we come across is “Where is the stamped IRS stating that the taxes are paid?”  Well let’s see that in detail today.

So when you do your Form 2290 filing manually (paper filing) by visiting your nearest IRS office once the tax payment is done towards your truck, the officials would give you a schedule-1 copy with an IRS stamp on it stating “paid”. This would serve as a proof of filing and payment towards your tax payment. But when you file your tax return electronically (e-filing) you would receive the schedule-1 copy as a PDF attachment with a water mark on the center of the page stating “E-filed on” (with the date of filing), which serves as your proof of filing. This would not have a physical stamp on it but an IRS water mark that’s digitally printed by the IRS automatically. This copy is all that you need to provide to the DMV to get your truck tags renewed. So have you filed your returns yet? Why wait, file it now.

Also for those who are waiting to get your schedule-1 copy for the tax return filed after December 26th 2019, the IRS systems will resume services starting January 7th, 2020 and all your pending filings will receive schedule-1 copies starting January 7th, 2020. Hope to give you more updates until next time and A Very Happy New Year again!

Truckdues.com has rated to be one of the most reliable websites who offers 2290 e-file services to our ever hardworking trucking community at a much affordable cost, Yes you can e-file your HVUT Form 2290’s here as low as $7.99 and receive the IRS digital watermarked copy of schedule 1 back in your registered e-mail. Your e-filing process is just a phone call away, speak to our tax expert right away @ (347) 515-2290.

E-file your Pro-rated Form 2290 before the IRS downtime!

Hello there truckers! Yet another year has passed and hopefully it was a good one. Christmas is around the block and not to mention a fresh year ahead. Hope this year was a fruitful one as you pack gifts to all your loved ones from your hard earnings, Christmas would be possible without you truckers delivering our needs on time. We thank you all for all the hard work and pain to deliver our goods on time. This year wouldn’t have been easy without you

Before the winter brings down the chills on you we are bound to inform you and keep you updated about your Form 2290 filings. It’s not only us who are looking for a peaceful vacation, so does the IRS LOL!

The IRS would be under maintenance starting from December the 26th, 2019 and will resume services post new year. Any filings done within this time period will be on hold until New Year. So plan your taxes accordingly and file on or before December the 24th, 2019 so that you can get a timely response and enjoy your stay at home stress free.

After all it’s the time of celebration and you deserve some time away from work, so plan you work accordingly and may this Christmas chimes bring you happiness and joy, Also a prosperous New Year ahead. Truck dues wishes you all merry Christmas and a happy new year  Hence, do not take any chances until the very last moment as it might incur your hard earned dollars towards penalties & interests for not being able to E-File your 2290’s before the actual due date. Your e-filing process is just a phone call away, speak to our tax expert right away @ (347) 515-2290.

What would you do while claiming a refund on a low mileage vehicle?

Paid the taxes in full for the previous tax year but you vehicle ran less than 5000 miles? You will be eligible to claim a full refund or transfer the credits to the current tax year (If you plan to operate more than 5000 miles)

A claim for refund can be for the following scenarios,

  • Over paid tax due by mistake.
  • Taxable vehicle Sold/ Transferred / Destroyed or Stolen.
  • The vehicle was used within the mileage use limit (5,000 miles or less; 7,500 or less for agricultural vehicles).

In this blog we will see especially about Low mileage vehicle credits refund and transfer

Vehicles used within the taxable mileage: The taxable mileage limit for a heavy vehicle is 5,000 miles (7,500 for agricultural). As said before the taxes are paid for the whole year and if your vehicle has run under 5,000 miles (7,500 for agricultural vehicles) you are eligible for low mileage credits. This can be applied only when the entire tax period (July 1 – June 30) is completed. The Vehicle mileage credits is limited only to miles operated on the vehicle regardless to the number of owners.

To get a refund based on low mileage you need to start a new return and select form “8849 schedule-6”. This is a special form dedicated for refund purposes. Then over the next page you need to select Low mileage vehicle credits to declare your vehicle exempt from tax. Over the next page just select “add vehicles” to enter the VIN number, first used month and reason for refund, also you need to attach the copy of the schedule-1 copy for reference. That is all within just 3 steps you can claim a refund on the taxes paid.

To transfer the credits to the current year filing (Only if the truck is assumed to run over 5000 miles) start a new return and select “form 2290”, select the first used month and tax year and over the next page you have to select two boxes which says “taxable vehicle & Low mileage vehicle credits”. The next page is where you can see two rows , the first one would be for entering the truck details on which the taxes needs to be transferred and the second one is to declare the previous year filing under low mileage credits. Then the rest is the same just proceed further with payment. 

By following these steps you can either claim a refund or transfer the credits to the current tax year.

Your Pro-rated HVUT Form 2290 deadline is just a fortnight away!

Truckers, the Pro-rated Heavy highway vehicle used tax return is now due by 09/30/2019 for vehicles first used since August 2019. This deadline is drafted based on the Federal law that states that the Form 2290 must be e-filed on a vehicle by the last day of the month following the month of its first use. On that basis, the HVUT Form 2290 is now due by 09/30 for vehicles first used since Aug 2019.

The Heavy Highway vehicle used tax return is basically paid on Heavy vehicles with a taxable gross weight of 55000 lbs or more and if the same is been used over the public highways for commercial, Agricultural & Logging purposes.

If the said vehicle is expected to be operated over 5000 miles for Commercial based units and over 7500 miles for Agricultural based units then tax due is required to be paid on these trucks upfront for the upcoming 12 months. On the other hand, if the vehicle seems to be used under the mileage limit then the truck turns out to be exempt and no taxes are required to be paid on such vehicles.

The Annual HVUT Form 2290 is basically due by June and its payable until the end of August, for the current year the HVUT Form 2290 for the period beginning July 1, 2019 through June 30, 2020 was due since June 2019 and the actual deadline was extended up until Sept. 3, 2019. We realize that most of the truckers might have missed on the deadline due to busy on road schedule. For those, we want you to know that now it’s not too late to renew your Form 2290 to avoid maximum penalties from the IRS.

Did you know the IRS e-file servers are currently offline due to Labor Day?

Hello there truckers, did you know that the IRS e-file systems are down due to 125th Labor Day in the United States. Labor Day pays tribute to the contributions and achievements of American workers and is traditionally observed on the first Monday in September.

Hence, as a token of gratitude and in the motive of paying tribute towards the hardworkship od shown by many fellow Americans, this day is observed to be a Federal Holiday across the nation. Hence all the IRS facilities will remain closed as well the IRS e-file system will also be offline and non-operational. Any tax returns e-filed during this downtime would be placed on hold and will be processed by the IRS only when they recommence full operations beginning 7: 00 AM, Eastern Standard Time, Tuesday September 3.

As you know that the Annual HVUT Form 2290 is now already due for a renewal for the Period beginning July 1, 2019 through June 30, 2020 since June 2019 and the deadline to file & pay your tax return would be 08/31/2019. However for this year the last day of August falls on a weekend, the deadline is extended up until Tuesday Sept 3, 2019.

Any tax returns e-filed after the deadline will be considered late hence late filing fees and interests may apply over your tax dues to be paid. The penalties might go as high as 4.5% of the total tax due that remains to be accountable in accordance to your tax return. E-File your HVUT Form 2290 for the period beginning July 1, 2019 through June 30, 2020 with No Further Delay to avoid any penalties from the Internal Revenue Service.  Reach our Team expert support at 347-515-2290 for your HVUT Form 2290 needs.

Besides your Pro-rated Form 2290, Form 1120 is due by this month as Well.

The Form 1120 (officially the “U.S Corporate Income Tax Return”) is one of the IRS tax forms used by corporations (specifically, C corporations) to report their Income, Gains, losses, deductions, credits and to figure out their tax liability.

Wondering why we are even discussing about a different tax than Form 2290? Well we would like our Trucking community companies not to miss their business corporation taxes. The Tax Form 1120 is generally due by March 15th, every year. However for business that are involved in trucking are working restless to address the nation’s needs on time hence there are greater chances to miss the calculation part near the business tax deadline.

So you get a chance to claim an extension via Form 7004, It’s the form used to file for an automatic extension of time to file your business tax return for a partnership, a multiple member LLC filing as a partnership, a corporation, or s-corporation. The IRS indicates that, “Form 7004 does not extend the time for payment of tax.” Hence, you must pay taxes due (guesstimate) by your tax return due date, even if you file an extension application. You may also log on to the official IRS website to find the authorized e-file service provider to have your extensions filed successfully.

Now the bloodstream of our nation’s economy (Trucking) taxes HVUT Form 2290 is also due by the end of this month on a Pro-rated basis. By the federal law that states, that Form 2290 must be filed on a vehicle by the last day of the month following the month of its first use. On this basis, the Pro-rated Form 2290 is now due by March 31st, 2019 for vehicles that are into service since February 2019.

Our Tax experts stay dedicated to assist you with your HVUT Form 2290 needs or working hours are from [Monday through Friday, 9 A.M to 5 P.MCentral Standard Time]. See you over the next article. Happy Trucking! Keep Moving America Forward!

E-File your Pro-rated HVUT Form 2290 before Feb 28, 2019.

Hello there truckers, the Pro-rated HVUT Form 2290 is due by Feb 28, 2019 for vehicles first used since January 2019. This Pro-rated deadline is drafted based on the Federal law that indicates Form 2290 must be filed by the last day of the month following the month of its first use.

Now if you had purchased/re-purchased any new truck during January 2019, you got 60 days before you could file this Form 2290, you generally file this tax Form to get your vehicle plates, tags, licenses renewed.

Now for many who just turned out to be truckers, this form may not sound familiar or perhaps we must say that they do not even an idea about this Tax Form until they wanted their vehicle registrations to be done. They also do not know what the importance of this tax Form is.

The HVUT Form 2290 is basically an annual tax paid to the Internal Revenue Service which is paid on Heavy trucks which comprises a taxable gross weight of 55000 lbs to the minimum until 80000 lbs & above and if the said truck is used on the public highways for commercial, agricultural & logging purposes.

However, the vehicle is determined to be a Taxable vehicle (Where the tax payment needs to be made full in advance to the IRS) or Suspended/Exempt vehicle (Where no tax payment needs to be made to the IRS) based on the desired mileage limit for exemption drafted by the Internal Revenue Service by virtue of the nature of job the utility vehicle performs.

Hence, if the subjected vehicle is expected not to go over the desired mileage use of exemption, it remains to be exempt from Form 2290 tax payment, however a tax return needs to be filed for this vehicle to legally claim and exemption.  

Truckdues.com has been serving the ver hard working trucking community over the past 5 years with their HVUT Form 2290 filings at a very honest pricing, $7.99 we ensure that you receive the IRS digital watermarked copy of schedule 1 in your registered e-mail address within minutes after you e-file.

Reach us back for any further assistance over the following mediums:

Phone: (347) 515-2290 [Monday through Friday, 9 A.M to 5 P.M, Central Standard Time]

E-mail: support@truckdues.com

Live chat with our tax representatives.

Have a Good One! See you over the next article.

The Government has temporarily recommenced operations after the longest shut down ever!

The U.S. government has re-opened temporarily after the longest shutdown in American history.  The impact that the 35 days of the President Trump’s government shutdown has had on federal workers and beyond.  This shutdown has adversely affected many tax payers either with quite a few tax forms were lined up for renewal namely, Federal tax Forms 2290, 720, International Fuel Tax Agreement & few more.

According to the statistics of the Congressional Budget Office, The recent government shutdown cost the economy $11 billion, including a permanent $3 billion loss. Although most of the damage to the economy will be reversed as the government reopens and workers return to their jobs, the CBO Congressional Budget Office (Federal agency) estimated $3 billion in economic activity is permanently lost.

Whilst this historical shutdown prevailed, many HVUT tax payers contacted us to know about the IRS recommencement to deal with their penalties, general inquiries and etc.  Since www.truckdues.com serves to be an intermediate service provider for e-filing the Federal tax form 2290, our expertise is only towards the overall e-filing process and its sequential processes.

However, throughout this shutdown we had to manage many conventional paper filer’s questions due to major local IRS facilities & Courthouses shutdown besides the e-filing option was there as live option to File and pay the HVUT Form 2290 amidst the shutdown and e-filers were still been able to File, pay & Receive the IRS digital watermarked copies of Schedule 1 in their registered e-mail address.

However, we felt happy that we were considered to as a helpline for 2290 e-filing by many owner operators who had no option to schedule any appointments nor was able to contact the Internal Revenue Service regarding seeking assistance with their Heavy Vehicle Used tax Forms. We always feel much obliged to serve the ever hard working trucking community with their HVUT Tax Filing needs.

Feel free to reach us back for any further assistance over the following mediums:

Phone: (347) 515-2290 [Monday through Friday, 9 A.M to 5 P.M, Central Standard Time]

E-mail: support@truckdues.com

Live chat with our tax representatives.

Have a Good One! See you over the next article.