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.
Truckers, in this post, we’ll go through how to get a refund on your vehicle if you discover that you haven’t driven it over the desired mileage cap for exemption. The mileage cap for exemption, according to the Internal Revenue Service, stands at 5000 miles for commercial vehicles and 7500 miles for farming and logging vehicles.
The Heavy Highway Vehicle Used Tax Return HVUT Form 2290 is an annual tax charged to the Internal Revenue Service on vehicles with gross weights of over 55000 lbs and that is used for the same purpose every year. Form 2290 is due in June and is payable through the end of August.
Since Form 2290 must be filed upfront for the next 12 months, one must be certain of the miles the truck will be used. If the truck will be used within the exemption mileage, you will not have to pay any taxes to the IRS. We must only pay the IRS the tax due sum if we surpass the desired mileage cap of exemption. But what if you declare your truck as a taxable vehicle by mistake and pay the tax due, only to discover later that you have not driven up to the mileage limit? This is when you use the IRS’s low-mileage credit option, in which you use the IRS’s e-file Form 8849 schedule-6 to request a mileage refund and register the vehicle under low-mileage credits. This, though, can only be done after the existing tax year has finished and the new tax year has started.
When it comes to E-Filing your IRS Form 2290 through an authorized E-File provider such as Truckdues.com, there are 4 different payment options. Taxpayers can pay by Electronic Funds Withdrawal, EFTPS,Credit/debit card payment, Check or Money Order. The options to pay by check or money order may be easier to understand, but the options for Electronic Funds Withdrawal, EFTPS and credit/debit card payment may need an additional explanation.
If you elect to pay by Electronic Funds Withdrawal, you can use either a checking or savings account. You will need to enter the U.S. Bank Account Number and Routing Number in order for the IRS to Process the payment. This information is typically listed on a check.
Hello there truckers, Hope you had a wonderful valentines week amidst your loved ones. The love towards our close ones drives us every day doesn’t it? While that being said your love and passion for trucking drives the nation. The Pro-rated HVUT Form 2290 is now due by March 1 2021 for vehicles first used since January 2021. 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.
If you had purchased/re-purchased any new trucks during January 2021, then 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.
Truckers, over this article we are going to discuss on how to go about claiming a tax exemption on your vehicle if you realized that you have not driven it over the desired mileage limit. It is said by the Internal Revenue Service that the mileage limit for exemption remains to be 5000 miles or more for commercial based units and 7500 miles for Farming & Logging based units.
The Heavy Highway Vehicle Used Tax Return HVUT Form 2290 is an annual tax paid to the Internal Revenue Service on vehicles that grosses over 55000 lbs or more and if the same vehicle is been used for its desired purpose. Form 2290 is basically due by June and it’s payable until the end of August.
Hello there truckers, over this article we are going to discuss on how to go about reporting an increase in the Gross weight of your truck. We on daily basis receive calls from our clients required to file an amended 2290. Often customers confuse between VIN correction and amendments. If you have done a mistake on the VIN numbers you have to do a VIN correction, If you have to correct the mistake occurred on their taxable gross weight of the vehicle that’s when you do an amendment. Now refers to this article to get a clear picture on this scenario.
Basically the Form 2290 is known to be the Heavy Highway vehicle used tax return which is filed on vehicles which possess a minimum gross weight of 55000 lbs or more and if the same truck is been used over the public highway for commercial purposes.
Hello, there dear truckers! Hope you’re doing good. It’s once again time for some updates with form 2290 filings, about a year ago the IRS stopped accepting credit/debit card payments to pay the taxes, and now it’s back. Recently the IRS began accepting tax payments using Credit/Debit cards and it’s one of the most misunderstood modes of payment. HVUT payers are prone to misconception based on their assumption that paying the IRS tax payment using a credit/debit card is an automated process but in reality, it’s not.
The IRS basically gives four different option to pay your taxes:
Hey there truckers! Hope you’re all covered up with your taxes and had a stress free new year. There’s always a deadline coming up every month and as you know it’s time to report your vehicles bought in the month of December 2020 before January 31, 2021. Though most of you prefer to file your tax returns electronically we do get contacted for the manual filing process. Due to the pandemic, the IRS offices are closed and the only option would be is to file your taxes electronically. E-filing make your filing experience easier and faster when compared to manual filing.
TruckDues.com wishing everyone a Great Year 2021. The year 2020 was a challenging year for every businesses across America. Even the trucking industry — arguably the backbone of the country’s economy — has been hard hit by the coronavirus. Let us all welcome 2021 with new hope and new opportunities to strengthen our business goals. At TruckDues.com we really try to make you as comfortable as you can be! when you e-file your 2290 taxes online. We value the trust you place in us and our team for your 2290 Tax Electronic Filing. We understand the importance of your business and we’re working persistently in effort to minimize disruptions associated with COVID-19.
The heavy vehicle operators who has put in their new vehicles on road in December 2020 has to report the partial period 2290 Truck Taxes with the IRS in this month January 2021. Choose electronic filing for easy and fast filing, at TruckDues.com it is economic and as low as $7.99 for single vehicle filers. Let this year 2021 be the transition year from paper returns to electronic tax returns, we at TruckDues.com can be instrumental in achieving this transition. Tax preparation fee and affordability is not a big issue when you have TruckDues, the most economic website in the market.
Hello there truckers, Christmas is around the block and not to mention a fresh year ahead. It’s been a wild ride so far and thank god for the year 2020 is almost over, yes the pandemic has made us run for our lives. The emptiest year has ended and a fresh start is up ahead with the news of covid-19 vaccines in mass production, hope the next year would be a better and promising one. Let’s talk about our taxes now, The Internal Revenue Service online servers usually go off-line every year during Christmas Eve to upgrade their servers to generate updated forms and support tax returns for the upcoming tax period.
The IRS usually schedule their annual maintenance period beginning December 26th, and we expect the IRS to officially recommence full operations during the 1st week of January and it should be the same this year. Now during this maintenance period, the IRS servers completely turn out to be idle hence, No tax returns that are e-filed will be processed by the IRS until the maintenance period is ceased.
