Truckers,
over this article we are going to discuss on how to go about claiming a refund
on your vehicle if you realized that you have not driven it over the desired
mileage limit for exemption. 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 which grosses over 55000 lbs or more and
if the same vehicle is been used for its desired purpose. The Form 2290 is
basically due by June and its payable until the end of August.
The Form
2290 needs to be filed for the upcoming 12 months hence one must be really sure
about the mileage the truck is going to be used. If the truck will be used over
the desired mileage lit for exemption, then you pay no taxes to the IRS. Only
upon exceeding the desired mileage limit of exemption we have to pay the tax
due amount to the IRS.
The Annual
Heavy highway vehicle used tax return is due by June of every year and its
payable until the end of August. However, the Federal law states that Form 2290
must be e-filed by the last day of the month following the month of its first
use. On that basis the Form 2290 is now due by June 30th, 2019 for
vehicles first used since May 2019.
At this time, we would like to remind you about the Pre-filing your HVUT Form 2290 for the period beginning July 1st, 2019 through June 30th, 2020. By Pre-filing you’d be able to receive the IRS digital watermarked copy of schedule 1 back in your registered email address soon after the IRS begins processing 2019-2020 Form.
Tax filing for heavy vehicles is just
around the corner and it’s time for some pointers to be given to our customers.
While filing the taxes users normally don’t make any mistakes but if there is
anything where they can go wrong it’s typing the VIN number wrong. Yes, it’s
just a typo error but it does cost you for VIN correction and you end up paying
more. That’s not a case with truck dues, we offer free VIN correction for the
2290 tax returns originally filed through us.
So, let’s go with some basics. A VIN number
or Vehicle Identification number is a unique code which is 17 digits comprising
of Alpha-numeric characters to denote a specific vehicle. The VIN number is
never the same for two vehicles as it’s a unique code for each and every one. VIN
number will not have characters like “I,
O, Q”. Truck Dues website is designed in such a way that these special
characters when included on your Form 2290 the website will automatically throw
an error message. This is just a small measure to bring down the errors while
filling the Form 2290.
VIN number is need to report your vehicles
for tax returns and once done you will receive the Stamped watermark copy of
Schedule-1 to your registered email which is a proof of tax filing also used to
register your vehicle with the DMV (Department of Motor Vehicle). SO make sure
you enter the VIN number correct while filing your returns.
But even if you enter the VIN number wrong
it’s alright the IRS has started very recently to accept VIN correction forms
through e-filing. This is the fastest and easiest way to get the correcting
done. Within 30 minutes of submitting the VIN correction forms you will receive
the corrected Schedule-1 copy to your registered email. Reporting VIN correction return with TruckDues.com is simple. Just login
or create a new account and choose “Start my new return” and select “VIN
Correction”. Remember VIN correction if free only for users who filed the
original tax returns through Truckdues.com.
So, this should give you an idea of things to
keep in mind while filing your tax returns and not to forget Pre-filing is also
supported through Truckdues.com where you can file your tax returns starting
from June for the period 2019-2020 and if any mistakes done you would have
ample amount of time to correct it.
Hello there truckers, it’s been about a couple of weeks now since the E-File race has started. Many HVUT payers who doesn’t prefer procrastination have Pre-filed their HVUT Form 2290 for the Period July 1st, 2019 through June 30th, 2020. Now this pre-filing option lets them attain a priority over other last moment e-filers with their HVUT Form 2290 by default as long as their tax return acceptance is concerned.
The
Pre-filing option is really simple to understand. For those who are now aware of
How the Pre-filing works? Here’s the answer. The HVUT Form 2290 is basically
due by June and its payable until the end of August. But with pre-filing option
you’d be able to e-file the HVUT Form 2290 for the upcoming tax period even
before the Form is even due.
We came up
with this initiative a couple of years back to overcome delays in processing
tax returns filed during the high time months such as July & August due to
millions of tax returns clogged up which needs to be processed by the IRS.
Moreover, the IRS always processes
e-filed tax returns on First come First
Served basis. So, think what would be the probability to get your tax
return accepted if filed lately near the deadline, you can’t even stand a
chance.
Hence,
truckdues.com recommends you to make use of this pre-filing opportunity to
E-file your HVUT Form 2290 for the Period July
1st, 2019 through June 30th, 2020 and receive the IRS
digital watermarked copy of Schedule 1 in your registered e-mail address soon
after the IRS begins processing your tax returns which is expected to be during
the 1st week of July 2019.
Truckdues.com remains to be one of the most trusted websites amongst many independent owner operators for its reliability and cost effectiveness. Economic E-Filing begins here as low as $7.99. Feel free to reach us back for any further questions regarding your HVUT Form 2290 needs. Happy Trucking, Keep Moving America Forward & God Bless America!!!
Hello there dear truckers! Wondering about
your tax payments? And you done have time to pay? Well you still have time to
pre-file your taxes by June and stay ahead of everyone. Truck dues offers our
customers the option to pre-file your tax returns ahead of the due date (i.e.
July 1st) and receive the Schedule-1 watermarked copy to your email
by July. The tax returns are accepted by the IRS only by July the schedule-1
copy will be sent to your email directly.
There area around 3.5 Million Truckers in
the USA and just have two months of time to file your tax returns. It is quite
impossible for the IRS to support all the trucker’s taxations. Imagine 3.5
million truckers rushing towards the IRS offices to file their tax returns?
Catastrophic isn’t it? Well with technology in your hands its quiet easy to do
that. E-filing is a boon to the trucking society with changing in trends day to
day the truckers can file the taxes through their mobile phones and personal
computers anywhere any time. ”Anywhere anytime” sounds better right? Truck dues
is not only convenient to use but also economically cheap when compared to all
the other providers in the e-filing sector.
Is that all we have to offer? No there’s
more. Why rush at the last moment waiting in line at the IRS office wasting
your time where you can hit the roads and make some money. You have an option to pre-file. Imaging you
being a step forward of all the 3.5 million truckers across USA, while they
wait in line wasting their time and money where as you can pre-file your taxes
now and just sit back and relax. We have already received thousands of
pre-filing applications who will just sit back and relax and make some money
while others would be rushing towards the IRS centers
Think Smart, choose Truck dues and pre-file
your taxes the rest will be taken by us. The schedule-1 copy will be emailed to
you and you’re good to go. No need to wait, no need to waste your time and wait
for the status. File with us and let us do the rest join the elite community
stay relaxed and don’t forget to pre-file your taxes
The tax filing period is just a couple of
weeks away and it’s a good time to know about the basics for a better
understanding of Form 2290 tax filing. Generally the taxes are due by the month
of July and payable until the last day of August. Here are some of the basic
information that you need to know regarding the tax returns
So
what is a Form 2290 and what type of vehicles falls under taxable vehicle
category?
Form
2290 is used to report the heavy vehicle for tax
purposes. Any vehicle which has a Gross weight of 55,000 lbs or above and
operated on the highway it is liable for taxes. The Gross weight of the vehicle
is the sum of the tractor, load and the trailer. Depending on the gross weight
of the vehicle the tax amount varies accordingly.
What
are the options of filing the taxes?
There are two major types or medium of
filing taxes 1. Paper filing, 2. E-filing
The Paper filing is the conventional way of
filing your taxes, where the tax payers should report the vehicle by walking
directly into the IRS office and manually fill out the form and calculate the taxes,
which is a tedious process and chances of wrong calculation and data entry is
high.
E-filing is rather an easy option while
compared to paper filing. It’s easy, accurate and less time consuming work and
the turnaround time to receive a schedule-1 watermark copy with 30 min’s of
time. Here at truckdues.com you just need to key in the business details, sit
back and let the website do the math for you with the best technology and accurate
calculation, there is almost zero chances of error.
Are
there any tax exceptions?
Yes, there are
some exceptions. Based on the mileage of your vehicle, If your vehicle Mileage
is under 5,000 miles (7,500 for agricultural vehicles) the vehicles are considered
to be tax exempted. You just have to report the vehicle under suspended
vehicles category for tax exemptions. However if your vehicle crosses the
mileage limit during the tax period you will be liable to pay taxes by filing
and amendment to evade penalties.
How are the taxes calculated?
As mentioned
before it’s based on the gross weight of the vehicle and also the First month
of use. If you have bought a vehicle in the mid of the tax year (1st
July to 30th June) the taxes will be calculated based on the first
month of use till June 30th along with the gross weight of the
vehicle, hence there is no need to pay for the whole year but pay for the
months used on road.
What is Schedule-1?
Upon successful filing of your tax return, The IRS will send a watermarked proof of filing. This will also serve as a valid proof while registering your vehicle with the local DMV (Dept. of Motor vehicle).
Filing period
Normally the tax
period is from 1st July to 30th June. The taxes are to be
paid for the whole year upfront before the last day of August. What if you can
file your taxes prior to the tax due date? Well truck dues has an option for
that as well. We allow our customers to pre-file the taxes by the month of June
and the data is sent to the IRS prior to July 1st. Once the IRS
starts to accept the tax returns by July you will receive the Schedule-1 copy
to your registered email ID by the first week of July. You just have to sit
back and relax till you get the schedule-1 copy while others run about during
the tax period to do their filings
Economic e-filing begins here as low as
$7.99. It only consumes few minutes to e-file your federal HVUT Form 2290 and
to receive the stamped confirmation back in your e-mail.
Phone:(347) 515-2290 [Monday
through Friday, 9 A.M to 5 P.M, Central Standard Time]
Hey there truckers, we got an important news for you. Beginning June 2019, you can Pre-file your HVUT Form 2290 for the period beginning July 1st, 2019 through June 30th, 2020. No introduction is required for existing HVUT Form 2290 pre-filers, however for first time HVUT payers, Pre-filing is the way to file your HVUT Form 2290 for the upcoming tax period (July 1st, 2019 through June 30th, 2020) even before the Form is literally due.
The
Pre-filing initiative was introduced for the HVUT Filers who file their tax
returns near the tax deadline amongst millions of other late filers who almost
missed the Deadline date. The IRS always entertains processing of HVUT tax
returns on First come- First Served basis.
Hence,
Pre-filing is the only option for you to be able to e-file your HVUT Form 2290
way earlier to place a priority over your tax return amongst other e-file tax
returns. It increases the chances of expediting the processing of your tax
return even during the high time of the year.
Truckdues.com is one of the prominent websites which offers economic e-filing at a much affordable cost. We have earned out trust among a major share of independent owner operators. E-Filing begins here as low as $7.99. E-File & receive the IRS digital watermarked copy of schedule 1 instantly in your e-mail.
Bought a heavy vehicle for yourself?
Wondering whether to pay the taxes for the whole year? Well that’s what the
prorated taxes are about. As per the IRS “All heavy vehicles operated on the
high way with a gross weight of 55,000 lbs or above and with a mileage of 5,000
miles (7,500 miles for agricultural vehicle) is taxable”. So have you got a vehicle with a gross weight
of 55,000 lbs or above and if you have plans of operation it on the highway
over 5,000 miles the dead line for paying the taxes is just a couple of days
away.
Well first things first so what about the tax
calculation? The Prorated taxes are calculated based on the month of first use and
the vehicle should have crossed 5,000 miles. That being said the payment date
would be your next question. Well, as per the IRS the “Prorated taxes are to be
paid by the last date of the month following the month in which it was first
used”. So the taxes for the vehicles bought by April is due and the deadline is
on 31st May, 2019.
What will you incur if you don’t pay the
taxes? Well that’s simple the IRS will charge a fee for failure to file and
failure to pay at a rate of 4.5% and a penalty of 0.5% of the taxable amount.
So why to incur these charges when it’s still not late to file your
return. But the time is on the horizon
and its just a couple of days more to file your prorated taxes.
What if you have paid for an old vehicle
which you have sold to buy a new one? But paid the taxes in full? There’s no
need to worry about it. The taxes can be transferred to the old vehicle to the
new once as credits. Just by filing a Form 2290 for the new vehicle and old
vehicle by listing it under sold category. Here at TruckDues.com this process
is made simple and the calculations are done automatically such that the website
itself will do the math and notify you the difference. This will help you
assess whether if there is anything to be paid out of pocket or if the
available credits would cover up the taxes for the new vehicle.
So what are you waiting for, rush now just
log into TruckDues.com and enter the new vehicle details, let our website do
the math for you. Just with a click you will be able to transmit the return to
the IRS and receive a water mark copy of Form 2290 schedule-1 to your
registered personal email.
Hello there
HVUT payers, we hope this article reaches you with high spirits. Now over this
article we are going to discuss the most common misconception that arise among
the HVUT payers while choosing the right IRS tax payment option while e-filing
their HVUT Form 2290.
As you
know, while e-filing your HVUT Form 2290 you got 4 different options in order
to make the tax payment to the IRS. Namely
Electronic Funds Withdrawal
Electronic Federal Tax Payment System
Credit or Debit Card
Check or Money Order
Amongst the
4 above option, only via Electronic Funds withdrawal the IRS will be able to
process the tax payment automatically. Rest other options require your action
to logon to the respective website and schedule payments to the U.S. Department
of Treasury.
Recently
the IRS began accepting tax payments using Credit/Debit cards. Since, then many
HVUT payers are prone to misconception based on their assumption that paying
the IRS tax payment using credit/debit card is an automated process but in
reality it’s not. Hence, by far many HVUT payers have received a letter from
the IRS stating a non-tax payment due to the ignorance of the tax payers.
So, inured
for you to be able to make the IRS tax due payment using your credit/debit card
you must log on to https://www.irs.gov/payments/pay-taxes-by-credit-or-debit-card
and choose one of the 3 payment processors who support tax payment using card.
Reach us
back for any further assistance with your HVUT Form 2290 filings.
New Year is right around the corner. New Year’s is the
perfect occasion to celebrate Love, friendships and all the good things in
life. Let’s take the time to appreciate what this year has given us and what the new one is about to
bring! A new year means new beginnings, love, chocolates, and warm wishes for
your friends and family. Now at this joyous time, we would like to remind you
about the forthcoming Pro-rated HVUT Form 2290 Deadline and the IRS year end
maintenance period.
Every year, during the Christmas Eve, the IRS online servers
will turn offline with a motive to upgrade their e-file systems in order to accept
tax returns for the following tax period (For
the period beginning July 1st, 2019 through June 30th,
2020). Now any tax returns e-filed during this downtime will be processed
until the IRS recommences full operations, which is expected to turn up during
the 2nd week of January 2019.
However, that doesn’t mean that you simply can’t e-file your
tax returns right now, you could have it e-filed right now and wait until the
IRS recommencement before receiving the IRS digital watermarked copy of
Schedule 1 in your registered e-mail address. The Federal law states that the Form
2290 must be e-filed on a vehicle by the last day of the month following the
month of its first use. On that basis, now the Form 2290 is due by Dec 31st, for vehicles first
used since November 2018. E-file
before the deadline.
Failure to E-file the Form 2290 before the deadline might
end up in owing the IRS a penalty for late in filing & payment. This
penalties might fluctuate between 3 to 5% of the overall tax due owed on your
vehicle and the worst part is the interest will accumulate on daily basis as
long as you prolong the lateness beyond the desired deadline assuming it as an
extension. In the first place we would like to make our dear truckers aware
that there has been no extensions for Form 2290.
Truckdues.com has been rated to be one of the moist
efficient & cost effective websites which makes the e-filing process easy
even for beginners. There are no complex calculations involved as our
application bears that part on your behalf as it has an inbuilt tax calculator
for your convenience. Soon after you enter your vehicle information, our
application would calculate the tax due amount of the vehicle reported.
Reach us back for any further assistance over the following
mediums:
Phone: (347) 515-2290 [Monday through Friday, 9
A.M to 5 P.M, Central Standard Time]
E-mail: support@truckdues.com
We wish everyone a Happy New Year. Live chat with our tax representatives.
