When it comes to E-Filing your IRS Form 2290 through an authorized E-File provider such as Truckdues.com, there are 3 different payment options. Taxpayers can pay by Electronic Funds Withdrawal, EFTPS, 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 and EFTPS may need an additional explanation. Continue reading
Hello there truckers, we hope you are now reading this article with high spirits. Yet no wonder this is again a reminder on the nearest Form 2290 deadline, where March 31st, 2018 will be the due date to E-File your HVUT Form 2290 for vehicles first used since February 2018. Continue reading
Hello there truckers, we hope you are reading this article at high spirits. Well, over this article we are going to discuss on a common question that arises for a Trucker, That how do I report a change on the vehicle gross weight. Perhaps we claim that is even simpler than you can ever imagine. Continue reading
Hey there Truckers, in this article we are going to discuss what you need to do when your truck exceeds the exemption limits. Wanted to know more briefly, here it is… Generally Form 2290 is a Federal Tax Paid to the Internal Revenue Service (U.S. Department of Treasury) which is annually due. This tax is basically pro-rated and the taxes are paid up front. Continue reading
Hello there truckers, this article is to remind you all that your Pro-rated HVUT Form 2290 is due by Feb 28, 2018 for the period beginning January 2018 through June 2018. As you are pretty aware of the fact Form 2290 is generally due by June and its payable until the end of August. Else, federal law states that Form 2290 must be filed on a vehicle by the last day of the month following the month of its first use. Continue reading
What is a Form 2290?
Form 2290 is the form that is been used to File & Pay the Heavy Highway vehicle Used tax also abbreviated to be HVUT which is a federal tax that is due annually and payments are made to the U.S. Department of Treasury. However, on this matter the Internal Revenue Service represents the show as they are solely responsible for the entire governance of this tax.
Who Must File?
Well when we call it a Heavy Highway Vehicle Used tax, it clearly states these taxes are only concerned with Heavy vehicle which must comprise a minimum total gross weight of 55000 lbs i.e., (The weight of the tractor+ weight of the Loaded Trailer) and the same has been used over the public highway for multiple purposes such as Commercial Hauling, Agricultural, logging & so on. However, the IRS has drafted guidelines to differentiate the tax dues amongst the nature of duty that each heavy vehicle performs.
When is the Form 2290 Due?
Federal law states that Form 2290 must be filed on a vehicle by the last day of the month following the month of its first use. Else, these taxes are generally due by June and its payable until the end of August of every year.
How much is the Tax amount by the way?
The Tax due varies upon the gross weight of a desired Vehicles and the distance traveled within a respective HVUT tax period. Below 55,000 pounds do not have HVUT because they do not qualify as a heavy vehicle. Vehicles between 55,000 and 75,000 pounds owe $100, plus $22 per 1,000 pounds over 55,000 pounds. Finally, for vehicles that are over 75,000 pounds the maximum HVUT is $550 per year.
Who is Exempt from HVUT?
Although it is rare, some Vehicles that fit the above description may be exempt from the HVUT and Filing requirements of HVUT Form 2290. To officially be exempt from filing Form 2290, the vehicle must be owned and operated by the following:
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Have a Good One! See you over the next article.
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There are many fascinating events and people that make up American history. Some events have changed the very ways that American values have formed and many people have risen to the challenges of their time to make a better country for every American citizen. George Washington was one of those people. He is widely known as one of the founding fathers of America. Continue reading
Did you ever encounter the moment when, just after it’s too late to do anything about it, you realize you messed something up? It’s always nice to know that you can go back and correct an error when you find one. In this article we are going to discuss on how to go about correcting an incorrect VIN that was accidentally reported over a Form 2290. Continue reading
Many truckers and trucking companies’ ends up making an overpayment towards their HVUT Form 2290 taxes due to various reasons likely, they would have been into the conventional way of paper mailing the Physical Form stapled with a payment and receives the proof of payment back in mail in a fortnight, however this doesn’t seem to be a trouble until it costs any individual owner operators or trucking firms an immediate registration. So, many truckers who anticipates a response beck from the IRS out of paper mail ends up e-filing too so there comes an over payment of taxes by both mediums. Continue reading
Truckers, kindly spare few minutes amidst of your busy on road schedule to read this article as this article will clearly explain you about the near term HVUT Form 2290 deadline which is due by Jan 31st, 2018. However, this deadline is only applicable for trucks which were purchased/re-purchased and been used on the road since December 2017. Continue reading