Tag Archives: Form 2290 due date

Low Mileage Vehicle Credit or Suspended/Exempt Category? Explained!

Hello there Truckers, doesn’t this question sound familiar to you? Almost on a daily basis, we receive calls as such inquiring about How do I/where do I report my truck that is not used above the desired mileage for exemption? The common misconception that evolves amongst many HVUT e-filers is that both these terms sound similar. However in terms of Form 2290 they are different attributes.

While e-filing your HVUT Form 2290, you might have noticed the section, Suspended/Exempt vehicles this section is basically to report when the heavy vehicle is been used under the desired mileage limit for exemption (5000 miles for Commercial & Logging based Units) & (7500 miles for Agricultural based Units) In this case, you need not make any tax payments to the IRS as they are exempt but you still got to report the vehicle on this Form to legally claim an exemption.

On the other hand, The Term Low mileage vehicle credits sounds to be referring to low mileage or exempt vehicles, but in reality it’s related to Claiming a refund on the Taxes paid full in advance on a low mileage vehicle. Upon realization of the mileage recorded by the end of the tax period for which the tax payment was made full in advance, you claim a full refund back from the IRS during the renewal of the following tax year’s tax return.

Sounds confusing? Well here’s an example: John purchased a commercial utility vehicle in July 2018 and he needs to get his vehicles registered with the state authorities so does he needs to file a Form 2290 report. So he reported the vehicle on the Form 2290 (For the period beginning July 1st, 2018 through June 30th, 2019) and made an upfront tax payment to the IRS. However, due to unforeseen mechanical wear & tear unfortunately the truck was not used quite actively as he expected hence it recorded an overall mileage that is less than/below the actual mileage limit for exemption as (5000 miles)

Now, he’s got to renew his Form 2290 for the upcoming period (For the period beginning July 1st, 2019 through June 30th, 2020. During this time, he’s got a chance to claim a full refund on the tax paid for past tax year on the renewal form so evidently the tax due amount will be nullified on the renewal form. On the other hand, If John does not seem to own any trucks during the next renewal, he can simply claim a full refund (Form of cash) by filing the Form 8849 Schedule 6 ( Claim for refund of excise taxes) and wait until 21 business days to receive a refund check back in his mailing address.

Economically E-File your HVUT Form 2290 via www.truckdues.com and receive the IRS digital watermarked copy of Schedule 1 back in your e-mail instantly. 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.

Common misconceptions involved while making the IRS tax payment using your Credit Card.

Hey there truckers, almost on a daily basis our users calls us to report about an issue, that despite making the IRS tax due payment using credit card, received a letter from the IRS stating a non-tax payment. In the first place, many tax payers still assume that making the IRS tax payment using the credit/debit card is an automated process. But it’s really not.

Generally when you e-file your tax return, you get 4 different tax payment options to make the tax due payment to the IRS, namely

  1. Electronic Funds Withdrawal (EFW)
  2. Electronic Federal tax Payment System (EFTPS)
  3. Using your Credit Card/Debit Card
  4. By Check or Money Order

Now Among the above 4 options, the Credit/Debit Card Payment was recently introduced by the IRS. Hence, many tax payers are not really sure how this payment option works. But it’s really simple than we assume.

Misconception Scenario 1:

Tax Payers assume that Credit/Debit Card is an automated process.

Many tax payers assume that by choosing the option credit/debit card the IRS might automatically process the payment of their card. However, in reality the IRS insists the tax payers to log on to their official website, https://www.irs.gov/payments/pay-taxes-by-credit-or-debit-card then choose one of their 3 approved processors website to make the payment directly to the IRS. At the end of this process, tax payers will be given a confirmation number indicating a successful withdrawal. Although Failure to make the tax payment on time might result in incurring penalties & extra interests.

Note: This service is been offered by the processors with additional service charge inclusive.

Misconception Scenario 2:

Now this misconception does not seem to arise on the tax payer’s end rather on the IRS end. Many tax payers have recently received notices from the IRS indicating a non-tax payment despite of making prompt payment using credit card following the steps as mentioned above. On this note, the tax payer need not panic, instead contact the Internal Revenue Service on the phone number described in the notice to let them have your confirmation number to officially withdraw the notice back.

More over the E-Filing process is simple and elegant. It only consumes few minutes before you complete the whole e-filing process. Simply register yourself on this application and enter your vehicle information followed by the tax payment option then you’d be able to transmit your tax return to the IRS post making the service fee payment to our website using your Credit card.

As a result of e-filing, you will be able to receive the IRS digital watermarked copy of Schedule 1 back in your registered e-mail address within minutes after you e-file. The same copy will nicely serve as the proof of filing to take care of tags, licenses renewed during your vehicle registration.

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.

Truckdues.com wishes everyone a Happy Valentine’s Day in Advance!

Life is Eternal, Love is immortal. Sharing your Love with others will strengthen the love you have for yourself. Many people around the world celebrate Valentine’s Day by showing appreciation for the people they love or adore. Some people take their loved ones for a romantic dinner at a restaurant while others may choose this day to propose or get married. Many people give greeting cards, chocolates, jewelry or flowers, particularly roses, to their partners or admirers on Valentine’s Day. Continue reading

Red is Victory, White is for Purity, Blue is for Loyalty. Happy Birthday USA!

Freedom is nothing but a chance to be better. 4th Of July is an important day for the residents of the United States as our country became free and declared its independence on this special day. This independence was first enjoyed in the year 1776 and could be possible only by the efforts made by the leaders and the great personalities. Their efforts as well as sacrifices finally broke the chains to become a free nation. Continue reading