Hello there dear truckers! Hope you’re all safe and with sound health. It’s been a crazy couple of weeks due to Form 2290 renewals amidst the chaotic COVID – 19 outbreak. Today being the deadline to file Pro-rated Form 2290 for the tax year 2019 on vehicles that were first put into service in the month of June 2019, we have been receiving more and more returns to process, Most of them being regular 2290 filers and some new owner-operators. We receive a lot of calls on queries on how to file a 2290 form and what would happen next? Most of them being common questions it’s our duty to clarify them and today we shall address some common questionnaire.
Now the following questions were discussed on a recent webinar conducted by the IRS and this should help you out in clarifying certain doubts:
Registrations of Tags:
Now one of the most common questions that we face is “Can I use my previous year’s schedule-1 copy i.e. July 2019- June 2020 to renew my tags?” Well, as per the IRS yes you can use the previous year’s schedule-1 copy for registrations happening between July 2020 – September 2020. But the IRS also tells you to file the 2290’s before August 31 so why this relaxation you may ask. It simple let’s say you file the taxes by the last week of august and you pay it by sending the form 2290 and the check to the IRS by mail. The schedule-1 copy will take up to 6 weeks to reach you. And if you have the Tag renewal by the first week of September you can use the previous year’s schedule-1 copy to get your tags done.
Most of us confuse between credit/debit card payment and EFTPS (Electronic Federal tax payment system). The IRS no longer accepts credit/debit card payments for Form 2290. So what is this EFTPS then, first of all, you need to be registered with the EFTPS by logging on to www.eftps.gov It’s a government website where you can schedule your tax payments. Once after enrolled you would receive a pin through mail to your business address using which you can log in to EFTPS and schedule a payment. The account validation and Pin would take 5-7 business days to be activated. As an alternative, we would recommend you choose EFW (Electronic Funds Withdrawal) and just enter your checking account number and routing number so that the IRS would auto-debit your bank account directly and this doesn’t require any registration’s as such.
How and where to send the check/money order payment:
If you had done an e-filing and chose to pay using a check/money order you may send it with the schedule-1 copy and 2290-V(Payment Voucher) payable to “U.S. Treasury” to Internal Revenue Service P.O. Box 932500, Louisville, KY 40293-2500
Hope this information would have helped you in some way or if you still need more information and assistance with you form 2290 we are here to help you, call us at 347-515-2290 or chat with us by visiting www.truckdues.com. Since most of you are busy on weekdays delivering the nation’s needs we are also available on weekends to support your Form 2290 needs. You may also drop your queries to firstname.lastname@example.org our team will respond to as quickly as they can with a resolution. Truck safe!