Tax day is just a day away, but if you haven’t done your taxes yet, it’s time to bite the bullet and get down to business. Else, you would have to face a penalty for filing late and the worst part is an interest would incur to your late filing.
HVUT Form 2290 is generally due by June & its payable until the end of August. As per the IRS guidelines, Form 2290 must be filed by the last day of the Month following the month of first use. So, for the vehicles that are been used over the road beginning February 2017 the Form 2290 is due by tomorrow March 31, 2017.
But, how do I determine my pro-rated tax due…Right? The answer is pretty simple. The HVUT tax due is basically determined the maximum gross weight of the truck (The total weight that combines the weight of the Tractor + The weight of the Trailer + The weight of the maximum carried load) and with the month first used during the Tax Year. Having said that, you need to figure out if, you need to pay taxes before filing your tax return.
For vehicles that would be used over 5000 miles for the period beginning February 2017 through June 2017, A Pro-rated tax due amount must be paid for the above said period for 5 months. We’ve got an inbuilt tax calculator within our application that will determine your Pro-rated tax due amount by selecting the respective dates.
In cases of vehicles that are been used under 5000 miles for the period beginning February 2017 through June 2017, owes no tax due to the IRS since these type of vehicles are summarily classified to be exempt for being used below the desired mileage as per the IRS standards. In case of vehicles that are solely used for agricultural purposes the non taxable miles limit is extended up to 7500 miles.
Hence, avoid procrastination. React now & E-file your 2290 via www.TruckDues.com and receive the IRS watermarked Schedule copy 1 in your e-mail. You may certainly reach us back for any inquiries @ (347) 515-2290 (9.A.M to 5 P.M, Monday through Friday, Central Standard Time) to talk to our support executives or compose your query via e-mail: firstname.lastname@example.org to get an immediate response.