Category Archives: 2290 for TY 2014 – 2015

Final Reminder To File Prorated Tax Through Form 2290

So truckers, how is the week treating you? Well, we have an announcement to make. If you have bought you vehicle for the first time on road in the month of September, you are liable to pay your prorated taxes by the end of October, which is not too far from our calendars. Just one more day, and the due date would end. So hurry up filers, come over and file your prorated tax with TruckDues.com.

Usually, the tax season due date falls on July 1st of the calendar year and ends by August 31st of the same year. If the due date falls on the weekend or a public holiday, the due date is extended to the next business day.

What Happens If You Miss Filing HVUT By The Due Date?

Well, there are few consequences faced by the taxpayer for not filing HVUT on time. Among them, paying penalties and interest are the most frequent.

Penalties:

The total penalty for not filing by August 2014 will be 4.5% of the total tax due. This penalty is added up for 5 months.

For instance, if your total tax due is $250, then penalty will be $250X4.5%= $11.25

So total tax due with penalty will be $261.25

Interest:

Apart from penalties, the IRS charges monthly interest for the total tax due which is 0.5 of the total tax due.

Therefore, if you do not file your 2290 return on time, you will be liable to pay taxes with penalty and interests, which costs you around 5% of your total tax due. It is advisable to file your tax return on time to stay away from IRS audits.

However, do bear in mind that you cannot let go filing form 2290 any point of your life if your vehicle falls under the category of heavy vehicles. It is always better to file and pay your dues online through TruckDues.com and receive your schedule 1 copy in minutes.

There are multiple advantages of filing online; however, one of the main reasons would be automatic tax calculations and error check. These two are the most important features TruckDues.com holds out for you. You can overcome the errors usually take place through manual filing.

Do remember, the error check is not a guarantee that your return will not face rejection. There are various reasons for the same. We have discussed the same below:

  • The EIN Does Not Match Your Business Name
  • Duplicate Return or Duplicate VIN
  • EIN Not Registered In The IRS Records
  • Incorrect Routing Number

Do not panic if your return is rejected. You can come over and file your return again before the IRS the due date is ended. You can always expect our Tax Experts around you. Reach us for more assistance at 1-866-245-3918 or email at support@truckdues.com. Immediate assistance can be anticipated.

Here’s What Happens When You Don’t File Form 2290 On Time

Exceptions are few; however, heavy vehicle with a gross weight of 55,000 lbs and more and using the public highways need to pay the tax as per the Federal regulations. And this becomes mandatory for the owner operators and truckers to file form 2290. We are going to talk about the scenarios you would face if you don’t file form 2290 for your taxable heavy highway vehicle.

Following are the scenarios, which are applicable with form 2290:

  • What if you don’t file Form 2290
  • Not signing the return
  • Claiming refund of Heavy Vehicle Use Tax already paid
  • Sale of vehicle
  • Getting stamped Schedule 1 on short notice

What If I Don’t File Form 2290:

As per the law, if you are late in filing your taxes, you are liable to pay penalties for failing to file the tax 2290 return on time. False filing or fraudulent returns will be penalized. Other than penalties, there will be interest charges against the delay of payment.  Also in case of filing the return after the due date, you need to attach a detailed explanation for the delay with the valid reason.

Not Signing The Return:

If in case, the return is submitted without signing, the return will be sent back to you for signing. It is important to note that, unsigned return will be considered as filed return.

Claim A Refund On Heavy Vehicle Use Tax Already Paid:

If your taxable heavy vehicle is destroyed, stolen, or sold before June 1 or for one that was used 5,000 miles or less (7,500 miles or less for agricultural vehicles), a refund for tax paid can be claimed on the subsequent Form 2290 filed. Form 8849 – Schedule 6 can also be used to claim the refund.

Do note, till the end of HVUT tax period, form 8849 cannot be filed. For example, tax is paid for the period July 1, 2009, through June 31, 2010, for a vehicle used 5,000 miles or less during the period, a refund on Form 2290 (or refund on Form 8849) cannot be claimed until after June 30, 2010.

Sale Of Vehicle:

In case a vehicle was sold, the taxpayer who filed the return and paid the tax gets the credit.

Receiving Schedule 1 Copy Immediately:

When efiling form 2290, you would receive your schedule 1 copy in minute’s right after you transmit your return online. However, if you have queries and questions to answer, you can always get in touch with our Tax Expertise right through email, phone or even chat. Simply dial (347) 515 – 2290 or simply drop in a mail to support@truckdues.com. We are here for you, for better back-end support.

Happy Trucking! – Team TruckDues.com.

Discover The Role Of Third Party Designee For Your Form 2290

So truckers, how are you doing? Today we are going to talk about the role of Third Party Designee when you are filing form 2290 for your heavy vehicles weighing more than 55,000 pounds. No matter which method you opt for, either paper filing or e-filing, by the end of preparing your return, you will be asked to assign a Third Party Designee for your filing. Many of us prefer skipping that option very conveniently as we feel we are calling in for more problems, however, that is not right.

We will talk about the purpose of holding upon a Third Party Designee for your return.

The basic role of the Third Party Designee is to handle your financial dealings with IRS on your behalf. Keeping in mind the busy schedules to run the show of deliveries, a trusted person from an employee to or business head can be assigned as Third Party Designee. Simply check on “Yes” to authorize IRS to speak with the designee to answer the questions shot by IRS related to the information noted in form 2290. Also, you are authorizing the designee for:

  • Exchange of information concerning form 2290 with IRS,
  • Request and receive written tax return information related to form 2290, including copies of notices, correspondence, and account transcripts

Additionally, you need to mention the designee name, phone number and the five digits that person choose as his/her personal identification number (PIN). The authorization applies only to the tax return on which it appears and does not bind the designee to deal with additional tax liability or otherwise represent the taxpayer before the IRS. The authorization is valid for one year from the due date.

Additionally, you can revoke the authorization by writing to IRS. Check IRS official website for more information.

Other than that, we have an announcement to make. If you have taken your vehicle out for the first time during the month of August, you are liable to file and pay tax due by the end of September in order to avoid penalties. E-filing is beneficial, easier and advantageous with TruckDues.com and of course, it leaves you overwhelmed when you notice your taxes is calculated already and there is no room for IRS to reject your return. And how can you miss out the comfortable assistance provided by our Tax Expertise.

TruckDues.com is being into the tax filing industry for more than a decade and now we are adding upon better and unique features to provide a user-friendly tax filing session our end and receive your schedule 1 copy in minutes through fax or request for an update through text.

Any other queries related to truck tax or you would like to share your feedback about our application, do feel free to get in touch with our Tax Expertise at 347) 515 – 2290 or simply drop in a mail to support@truckdues.com. We are here for you, for better back-end support.

Happy Trucking! – Team TruckDues.com.

Pay Your HVUT Online Through The Following Payment Methods:

So truckers, how are you keeping these days. With the weekend around the calendar, we all look forward for a day or two of relaxation from our hectic schedule. However, today, we are going to talk about the payment methods applicable while filing form 2290 through TruckDues.com.

With the online filing trend setting up high, it is always good to file and pay your dues online with the hectic schedule in hand. Besides, who has time to run to IRS office, submit your form and pay your dues through money order? To add ease to your role, opt for e-filing form 2290 online with TruckDues.com.

Before we proceed, let’s take a look at the definition of Form 2290:

Form 2290:

Form 2290 is an application to file Heavy Vehicle Used Tax. The tax is calculated based upon the weight carried by a truck on a public highway i.e. 55,000 pounds or more. However, if you are wondering why you are supposed to file form 2290, it is believed that these heavy vehicles cause most of the damage to the public highway. And the fund collected through the form is directly funded in the wear and tear of the roads for better transportation.

E-filing is one of the methods to file form 2290 and below we would be discussing the methods of making a payment online. Keep following to know more.

Direct Debit/ Electronic Funds Withdrawal:

The very first method applicable to pay your dues online is Direct Debit/Electronic Funds Withdrawal. The IRS would initiate a payment through the details you had mentioned while transmitting form 2290. Do note you hold responsible to maintain sufficient funds in your account before you make a payment. You can also revoke the payment by getting in touch with U.S. Treasury Financial Agent at 1-888-353-4537 no later than 2 business days before the settlement date.

EFTPS (Electronic Federal Tax Payment System):

The next payment method up in the line is EFTPS for filing form 2290. Electronic Federal Tax Payment System is an IRS initiative. You have to schedule the payment on your own and it’s your responsibility to ensure a timely payment. To create or manage, you can visit eftps.gov or call 1-800-555-4477. To initiate a payment through this account, the transaction should be initiated at least one business day before the due date.

Check or Money Order:

Well, if you are not comfortable using online payment methods, you can always pay your dues through money order. All you need to do is, print the completed payment voucher 2290-V and mail it to IRS.

Note:

Taxpayers are not allowed to pay their taxes through cash.  The check or money order should be payable to United States Treasury. Add details like name, address, EIN, “Form 2290,” and the date (as entered in Box 3) on your payment. Detach the payment voucher 2290-V and send across the payment. If you choose to file it electronically (e-filing), form 2290 and schedule-1 copy with the payment voucher is not required. Stapling the payment to the voucher or form 2290 should be avoided.
Send the payment and voucher 2290-V to:

Internal Revenue Service

P.O. Box 804525

Cincinnati, OH 45280-4525

So what is the wait for? Are you still thinking how safe you are? Well, we have security at our bay. Choose the method you are comfortable with and schedule 1 copy would be reaching you in minutes.

Get in touch with our Tax Expertise at (347) 515 – 2290 or simply drop in a mail to support@truckdues.com. We are here for you, for better back-end support.

Happy Trucking! – Team TruckDues.com

Types of Vehicle Filed With Form 2290 Only @ TruckDues.com

So filers, how are you doing? Hope everything is on smooth grounds. Last week we had spoke about the security levels we maintain at TruckDues.com. However, today we are going to talk about the vehicles filed through form 2290. Yes, this application supports varied type of vehicles that need to be filed on or before the taxation season due date.

With no further delay, we are going to hit the discussion right away. Keep following:

Types of Vehicles:

Taxable Vehicles:

The very first and foremost type of vehicle filed through form 2290 is taxable vehicles. These vehicles are categorized as taxable based on the weight of the truck or the taxable gross weight of the truck & the mileage for the taxation season. The main reason for collecting the funds is to moderate and maintain the highways as these heavy vehicles cause most of the damage. Also, taxpayers and owner operators who own more than 25 vehicles should efile with an authentic efiling service provider like TruckDues.com. And if you miss to file form 2290 on or before the due date, you are liable to pay penalties online, which might be heavy on your pockets

Suspended Vehicles:

The next set of vehicles file form 2290 is suspended vehicles. These vehicles do not cross the minimum mileage i.e. 5,000 miles and 7,500 miles for agricultural purpose and thus, they’re not required to pay dues, however, they need to keep IRS informed about their suspension through form 2290.

The Vehicles That Are Included In This Category Are:

  • Commercial vehicles with average mileage less than 5,000 and 7,500 miles for agricultural used vehicles
  • Mobile machinery for non-transportation function, non-transportation trailers and semi-trailers
  • Qualified as official blood collectors by blood banks and organizations

However, do note, annual miles exceeding more than 5,000 and 7,500 miles for agricultural vehicles are calculated as taxable miles. You need to file Form 2290 Amendments to pay your dues and receive revised schedule 1 copy.

Exempted vehicles:

After taxable and suspended vehicles, exempted vehicles are the operated and maintained by the government itself and that is why they don’t have to pay any dues to IRS, however, they need to report form 2290 for their vehicle.

The following are the vehicles included in the list:

  • The Federal Government,
  •  The American National Red Cross,
  •  The District of Columbia,
  •  A nonprofit volunteer fire department, ambulance association, or rescue squad,
  •  A state or local government,
  • Indian tribal governments (To carry out essential tribal government functions)
  • Mass transportation authority’s (under certain conditions)

Also, include these vehicles in the list:

  • Qualified blood collector vehicles used by qualified blood collector organizations, and
  • Mobile machinery that don’t come under the category of heavy vehicle.

Logging Vehicles:

These vehicles are exclusively used for the conduct of logging operations.

A Logging Vehicle Is Qualified On the Following Basis:

  • Exclusively used for transporting harvested products from the forested site, or for transporting products harvested from the forested site to and from locations on a forested site (public highways may be used between the forested site locations), and
  • The vehicle is registered as highway motor vehicle and used exclusively in the transportation of harvested forest products. In addition, no special tags are required.

Agricultural Vehicles:

Agricultural vehicles are involved in harvesting and transporting agricultural goods, and the maximum mileage is 7,500 miles annually.

The vehicles that fall under this category are:

  • Primarily used for farming purpose.
  • Registered under the highway motor vehicle but they are exclusively used for farming and agricultural purpose. In addition, there are no special tags to differentiate the vehicle.

With this, we would like to remind you that if you have bought your vehicle on road for the first time in the month of August, you’re liable to file form 2290 by 30st September. So come over and file with TruckDues.com and experience anew. Get in touch with our Tax Expertise at (347) 515 – 2290 or simply drop in a mail to support@truckdues.com. We are here for you, for better back-end support.

Happy Trucking! – Team TruckDues.com

Reminder to Truckers, today (Sept. 2) is last date for Form 2290.

The tax season dropped in and is now on the move. We had send reminders to our customers to file and pay their truck tax dues online. And for some reason, if you are yet to file, you are not late, however, you may meet penalties if you don’t file form 2290 by September 2nd 2014. The tax season drops into your calendar by July 1st and IRS provides taxpayers with two months of time, i.e. from July- August. And fortunately, the due date for this tax season 2014-15 is falling on a weekend and that precisely means, 2nd of September (the next business day) is the last date for filing your IRS form 2290 online.

So with the grace time in hand, we would like to call out for truckers, owner operators and tax filers to come over and file their return online with TruckDues.com, the authentic service provider for efiling form 2290 online. We have made our presence with a warm welcome from the truckers and thanks for choosing TruckDues as your e-file partner. We are happy dealing with various clients and customers, providing electronic filing benefits for today and forever, we are a proud efiling provider with the effectiveness of being on your pockets with only $ 7.99 as our efiling service fee. Continue reading →

Manual (Paper) Filing Or Electronic (Efile) filing : Choose The Best

When the season dropped into our calendars, there was a loud hype about filing truck tax form 2290. And with that, most of the truckers and owner operators have filed form 2290 in the very first month (July or August) of the tax period. However, if you are not among them and for some varied reason you have not filed your return yet, remember you have only 9 days in hand to get your heavy vehicle use tax return filed and pay your truck dues. Also, you would be receiving your IRS Stamped Schedule 1 copy in hand immediately once IRS accepts your 2290 return. The Truck Tax Form 2290 is due this September 2nd, for 2014 tax period.

Today, we are going to talk about pros and cons about paper filing otherwise the manual filing process and efiling or electronic filing (efile), framing in a manner that will allow you to decide the best option for filing form 2290 for the year 2014-15. Continue reading →

File 2290 on the go… with $7.99 only

Trucking is a trend that is growing with the time. Each day, the number of truckers enrolling and employed is turning huge. However, along with being a trucker, there are additional obligations each year. Taxes are one of them. When you are driving your heavy vehicle on the highway with more than 55,000 pounds is liable to file form 2290 online on or before September 2nd 2014. Usually, the due date for filing HVUT is July 31st. As the due date is falling on a weekend, the next business day is treated as the due date and eventually, September 2nd 2014 is the last date for filing form 2290.

Holding the due date strong in our mind, it’s time to file and report form 2290 at the earliest to pay your dues to IRS. And if you are looking out for an affordable deal to file your taxes on time, here you go. TruckDues.com is one such IRS authorized service provider, compelling everything on one go. In addition, the best, you don’t have to empty your pockets to efile form 2290 and schedule 1 copy in your hand. Pay only $7.99 with no hidden charges as efiling service fee and enjoy the successful efiling session. We believe in providing you affordable service and that is what we are indulged in. You are important to us so to the nation. And providing you with the world best service is our duty. Continue reading →

Get started with Form 2290, e-file

So truckers, how is the week treating you? Hope you are enjoying your drive behind the wheels. Our previous blog was about an Overview of Form 2290. However, today we are going to throw light on the documents required to file form 2290 and a detailed explanation of each of the document.

So let’s get started: For filing form 2290, the following information should be available handy:

  • EIN (Employee Identification Number)
  • VIN (Vehicle Identification Number)
  • Gross taxable weight of the vehicle(s)
  • Purchase date and date of first use on the highway
  • Mention annual mileage if the vehicle is suspended.
  • If the vehicle is sold, mention the details like date of selling, VIN and whom the vehicle was sold
  • Claim a refund on suspended vehicle through form 2290

Note: To e file the return, you need to have this listed information ready.  Continue reading →