Tag Archives: Suspended Vehicles

The HVUT Form 2290 partial period tax is now due for vehicles first used since April 2021

Please accept our heartfelt greetings to all of the HVUT filers out there. We’ve been dealing with the Covid virus for a while, but with good news about the vaccine coming in from all over the world, we’re hoping for a cure and lives saved. Until then, be careful. Thousands of truckers have already e-filed their HVUT Form 2290 for the current tax period, which stretches from July 1, 2020, to June 30, 2021; now it’s time to file the prorated form 2290, which is only applicable to truckers who purchased a new truck or used a new truck for the first time on a public highway in April 2021, which must be filed by May 31, 2021.

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Just four days remain before the April 30th deadline for submitting Form 2290 for vehicles first used since March 2021. E-file Now!

Good day, truckers! We’ve got an important update for you. For any new vehicles first used on a public highway in March, the Heavy Highway vehicle used tax return is due on a pro-rated basis for the period July 1, 2020, to June 30, 2021, and is due on April 30, 2021.

E-filing allows for a quicker approval of the tax return. It’s best to E-File your HVUT Form 2290 as soon as possible to prevent a last-minute panic that might result in your vehicle registration being revoked. Many last-minute 2290 e-filers have been advised that they will be unable to earn income so failure to file this form prevents you from using your vehicle on the road to support the needs of the people.

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The deadline for submitting Form 2290 is April 30th, which is only a few days away. Now is the time to submit your electronic filing.

Any heavy vehicle with a gross weight of less than 55,000 lbs must file a Form 2290, but the tax liability element is based on the number of miles driven. When the truck has traveled more than 5,000 miles for commercial use or 7,500 miles for agricultural use. When a vehicle does not exceed the desired mileage cap within a tax year, it is counted as excluded from paying HVUT taxes to the IRS. During checks and roadside inspections, however, the vehicle must be identified using Form 2290 to validate its exemption.

E-filing has been one of the digital revolutions, allowing taxpayers to safely register and pay their Federal Excise Tax Returns with the Internal Revenue Service. The main motivation for implementing E-filing is to make it easier for taxpayers to meet their tax deadlines. It frees them up from making appointments at the nearest IRS office and waiting a day for their turn to come before they hit the counter. The worst thing is that any last-minute changes are ignored, forcing you to restart from the beginning. Instead, sit back, relax, and e-file your Form 2290 in a matter of minutes at truckdues website.

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For vehicles first used since February 2021, the HVUT Form 2290 partial period tax is now due on March 31.

Dear HVUT filers, the HVUT Form 2290 is now due for a renewal for the Trucks first used since February 01 2021 Period beginning July 1, 2020 through June 30, 2021. Thousands of truckers have e-renewed their HVUT Form 2290 for the current period already. So act before it’s too late to join the e-filer club and receive the IRS digital watermarked copy of schedule 1 as soon as possible.

In this blog lets refresh who should file a 2290 and how the taxes are calculated. There are two important factors that needs to taken into consideration while declaring your truck under a form 2290. Its based on the number of miles driven and the total gross weight of the vehicle

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The HVUT Form 2290 partial period tax is now due for vehicles first used since February 2021

Hello there truckers, Over this article, we are going to discuss the near–term HVUT Form 2290 deadline for vehicles that are into service since February 2021. The Federal law states that Form 2290 must be filed by the last day of the month following the month of its first use. On that basis, March 31, 2021, happens to be the deadline for vehicles first used in February 2021.

Now before you are going to e-file your pro-rated Form 2290, you need to figure out whether your Truck is Taxable or Suspended. Basically, there are 2 types of vehicles reported in Form2290 as follows: So why bring this up now? well, let’s see that.

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Why do we go for a 2290 Amendment?

Hey truckers it’s once again time for a few pointers and transfer of knowledge about your HVUT Form 2290 filings. The filing season was a hectic one, wasn’t it? Since you are done with filing the returns hope you checked your schedule-1 copies for any mistakes. Any mismatch in the information would end up as a void filing. The recent question which we faced was about “2290 AMENDMENTS”. In this blog, we are going to see when to file an amendment and how to and when not to.

An Amendment is bringing about a change or correction to an existing return. People often confuse between VIN correction and an amendment. The VIN correction needs to be done on a separate filing and this doesn’t relate to anything with the Amendments.

Amendments are basically for reporting two things

  1. When there is an increase in gross weight (truck, trailer, and max load capacity)
  2. When the suspended vehicle exceeds the mileage limit (over 5000 miles)
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The IRS HVUT Form 2290 Tax Refund and Credit Adjustments – Explained!

Hello there dear Truckers, as you know the HVUT Form 2290 is an annual tax paid to the Internal Revenue Service every year on a vehicle which comprises a minimum gross weight of 55000 lbs or more and if the same truck is been used over the public highways for commercial, agricultural & logging purposes. In recent times we see a lot of our customers come up with questions relating to Form 2290 claims and who are eligible for it. We hope this blog covers those questions.

Now there are few claims that are supported in accordance with the Form 2290.

  1. Taxes Overpaid Credits.
  2. Suspended Vehicle Exceeds Mileage.
  3. Low Mileage Vehicle Credits.

Claims against Tax overpayment:  When the taxes are paid for a respective vehicle more than once within the same tax year, then the excess paid amount can be claimed as a refund by filing the Claim Form 8849 Schedule 6, as a result, you will receive a refund check back from the IRS in 21 business days in your mailing address.

When the vehicle is Sold/Destroyed/Stolen:  When the taxes are paid full in advance on a respective vehicle and if the subjected vehicle is Sold/Destroyed/Stolen a partial refund can be claimed via the Form 8849 Schedule 6.

Low Mileage vehicle credit:  When the taxes are paid full in advance on a vehicle assuming it would go over 5000 miles or 7500 miles but if the truck remains under the mileage limit for exemption during the year, the IRS lets you claim a full refund by the following tax year.

It’s a pandemic out there and the nation needs more truckers as you’re the bloodlines that connect every nook and corner of our country. We see a lot of our customers trading in trucks and looking to transfer the credits. Now you know what to do and if further assistance is needed, please feel free to contact us at 347-515-2290 or just drop an email to support@truckdues.com. Drive safe

Don’t let Yesterday Take Up Too Much of Today!

Stop-wasting-timeBenjamin Franklin, one of the Founding Fathers of our nation said, in this world nothing can be said to be certain, except Death & Taxes. A goal is a dream with a plan and a deadline. So the IRS has set a deadline (Due date) for the tax payers to accomplish this goal (To File & Pay Taxes on time) without any hurdles, meaning skipping the late filing fees and interest.

Do you know what happens when you give a Procrastinator a good idea? Nothing!  Still, few procrastinators out there could think, what if I say, I’m going to be filing my taxes by the time I could, besides I don’t care about deadlines, well they could grant a wish to console the IRS with a proper reason for being late. The worst part is most few ends up paying late fees and interests even though they tried really hard to explain the IRS about their genuine reason, unfortunately it wouldn’t be found to be a reasonable cause ground to justify their inability. Continue reading →

Form 2290 Due Date reminder: For vehicles first used in January

February 29th is the due date to file IRS Form 2290 HVUT for vehicles first used in January. Any heavy vehicle that was bought into service in January 2016 is due for Form 2290 by February 29th .The tax amount will be prorated for the months remaining in the tax year 2015 – 2016. Continue reading →

A Way to Save Your Money on E-filing HVUT Form 2290

Who will not like to keep their hard earned money all for themselves? Practically it is not possible to keep everything you earn, but there are several ways to save a major portion of it. Wise men always say “A penny Saved is a Penny Earned”.

On a recent survey with Truckers it was found that, on an average a truck Driver with Two years of experience earns only 34 to 37cpm if he drives Legal. Moreover he has to take 5 days off after 4 – 5 weeks of working Schedule and also has to meet is strict mileage requirement. Continue reading →