Tag Archives: truck tax form 2290

Safe filing is E-filing!

Dear HVUT filers, As we have learned to live along with the pandemic Virus on the loose we also have good news around different parts of the world regarding a vaccine for a cure. Hope it brings a breakthrough and saves lives. Till then be safe and sanitized. As you know the HVUT Form 2290 is now due for a for the vehicles bought or used since December 2020 Period beginning July 1, 2020 through June 30, 2021, thousands of truckers have e-filed their HVUT Form 2290 for the current period already and what about you ?

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Why do we go for a 2290 Amendment?

Hey truckers it’s once again time for a few pointers and transfer of knowledge about your HVUT Form 2290 filings. The filing season was a hectic one, wasn’t it? Since you are done with filing the returns hope you checked your schedule-1 copies for any mistakes. Any mismatch in the information would end up as a void filing. The recent question which we faced was about “2290 AMENDMENTS”. In this blog, we are going to see when to file an amendment and how to and when not to.

An Amendment is bringing about a change or correction to an existing return. People often confuse between VIN correction and an amendment. The VIN correction needs to be done on a separate filing and this doesn’t relate to anything with the Amendments.

Amendments are basically for reporting two things

  1. When there is an increase in gross weight (truck, trailer, and max load capacity)
  2. When the suspended vehicle exceeds the mileage limit (over 5000 miles)
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Time is ticking! as the Form 2290 deadline Aug.31 fast approaches

Form 2290 for the tax year 2020 is due by Aug.31

Hello there dear truckers! Hope you’re all safe and sound. We are into the last phase of filing your taxes as we just have a week’s time before the deadline for your form 2290. As you know the form 2290’s are due by July and payable until august 31 every year. While most of you have filed your tax returns yet there are many who hasn’t filed yet. We would like to keep you posted about this as we are nearing the deadline and any filings done after august are subjected to penalties from the IRS.

Most of you have a common question asking that why should you renew now as your tag renewals are later this year and aren’t we supposed to do it only then? Well, that’s not how it works. Form 2290’s are always from July 1 to June 30 the following year and the taxes are to be paid upfront for the whole tax year. And how will the taxes be calculated? It depends on miles that you do in a tax year and the total gross weight of your vehicle {tractor + trailer + the max capacity that you can haul}. For a vehicle to qualify under a taxable category it should do more than 5000 miles in a tax year and the minimum gross weight should be 55000 lbs and above.

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Do you want to evade penalties? It’s about time you filed your form 2290

A month has passed by, yet the Form 2290 deadline has not..! The Form 2290 HVUT tax returns are due by the end of this month. Penalties for HVUT non-compliance are serious money; it is equal to 4.5 percent of total tax due, assessed on a monthly basis. Late filers who don’t make an HVUT payment also face an additional monthly penalty equal to 0.5 percent of the total tax due. Additional interest charges of 0.54 percent per month accumulate as well.

Well, who would wish to spare the hard-earned money towards paying a late filing fee with interests, nobody right!  Hence, don’t hold up until the deadline to be the last moment filer that would make easy things hard and hard things even harder; that even tends us to commit mistakes over the Form 2290 while filing in a rush.

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Truckdues.com is open for business despite the COVID-19 situation

TruckDues.com is closely monitoring the COVID-19 pandemic. We value the trust you place in us and our team for your 2290 Electronic Filing service.

We understand the importance of your business and are working persistently in effort to minimize disruptions associated with COVID-19. You can completely rely on us for your 2290 tax reporting as we have taken adequate steps to support you and your business with 2290 efiling.

We have a comprehensive business continuity plan in place for natural disasters that has been adjusted to also cover a pandemic. We anticipate being able to service the needs of our customers, you can be confident that we are well equipped and prepared to aid you if you experience any challenges with 2290 electronic filing. You can continuously reach us at 347 – 515 – 2290 or write to us at support@truckdues.com.

Our thoughts are with our colleagues, customers and truckers who are working tirelessly to overcome the unique challenges brought on by this exceptional situation.

Please follow the guidelines issued by the CDC and Stay Safe.

Trucking Essential

TruckDues.com e-filing is a lifeline for taxpayers facing challenges with paper tax return system

Hey there truckers! Hope you’re all covered up with your taxes. 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 2019 before January 31, 2020. Though most of you prefer to file your tax returns electronically we do get contacted for manual filing process. This blog is for those who choose to go the traditional way of filing your tax returns manually.

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Logging vehicles versus Commercial vehicles

Do you have a doubt whether your vehicle is a logging vehicle or a commercial vehicle? And do you want to know what would be the tax difference? Well this blog is especially for those who have doubts on these areas. The most common mistake that the filers commit while filing the Form 2290’s are in this area. First let’s see what the difference between these two is.

Commercial vehicles are trucks that are used to haul any type of goods except forest related products e.g. Hauling timber and Logging vehicles are those trucks extensively used to haul only forest related goods. The criteria for both these types are the same except for the goods that they carry.

The vehicle mileage limit would be the same i.e. 5000 miles for taxable category vehicles and the taxes would be based on the gross weight of the vehicle (weight of truck + trailer + max load it can carry) and for every 1000 lbs increase in weight starting from 55,000 lbs there would be an increase in tax amount payable.

For a commercial vehicle with a gross weight of over 75,000 lbs would be $550 for a whole tax year and for a logging vehicle the total tax amount would be $412.50. The taxes for the Logging vehicle would be lesser than a commercial vehicle considering the forest based products.

When you file your tax returns, please do make sure that while entering your VIN details the logging vehicle category is checked in case of declaring your truck as logging vehicle and vice versa. So when you declare your vehicle make sure that these are noted, else if any changes need to be made after filing should be done by contacting the IRS directly which would consume your valuable time accordingly

Our Tax experts are striving to assist you with your HVUT Form 2290 inquiries. Hence, feel free to reach us back at (347) 515-2290 between 9 AM to 5 PM Central Standard Time, Monday through Friday except major federal holidays. Happy Trucking, God Bless America! God Bless our Truckers!

What is a Pro-rated filing and things to know while e-filing.

Have you bought a new truck and puzzled what to do next? Well, you need to get your Form 2290’s first to get your license plates done. The next question that would come up in our mind is when to report it. As per the IRS you get 60 days to report your new vehicle.

Any new vehicle bought can be reported until the last day of the following month from the date of its first use i.e. if you would have bought the vehicle in the month of September and plan to put it on the road then you have time until October the 31stto report the vehicle and pay the taxes.

And the next important question which normally arises in our mind is “Should we pay the taxes for the whole year?” Well not necessarily. You will be reporting the vehicle from the first used month till June 30th of the following year, you will be reporting the vehicle on pro-rated basis and pay the taxes for the remaining months only but not for the whole year.

The common doubt which would arise is whether the vehicle would be taxable or not. Well if you intend to drive over 5,000 miles (7,500 for agricultural vehicle) until June 30th and if your vehicle’s total gross weight including the maximum load it can haul is more than 55,000 lbs you vehicle would be categorized under taxable vehicle else just report the vehicle under suspended (exempt from tax) category.

Truckdues has been rated to be one of the most reliable websites by most owner operators for its user friendliness and reliability. You wouldn’t face any hassle while e-filing your HVUT Form 2290 even though it happens to be your first time. Receive the IRS digital watermarked copy of schedule 1 within minutes after you e-file.

Your Pro-rated HVUT Form 2290 deadline is just a couple of weeks away!

Hey there truckers, No wonder misconception might arise within yourself due to our repeated HVUT deadline alerts. We are not trying to mock you with repeated deadline alerts. Federal law states that HVUT Form 2290 must be filed on a Vehicle by the last day of the month following the month of its first use.

Hence, this article about the HVUT deadline must concern you only if you had purchased/re-purchased any truck and that’s being used over the road since Sep 2019, whereby you are required to E-File & pay the HVUT to the IRS on or before 10/31/2019.

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.

We request the trucking community to feel free while contacting our Tax expert support @ (347) 515-2290 during your HVUT Form 2290 filing needs.

Under Whose name must the Form 2290 be Filed?

Truckers, almost on a daily basis we face this question from our HVUT tax payers that on most cases they’d have the vehicles leased on a company who might insist on getting the 2290’s been filed under their business name and many operators are left behind with no options else than facing problems during the vehicle registration purposes due to the absence of an Employer Identification Number.

At times, the chances of overpaying the taxes occurs due to the reason that the owner operator might fluctuate in picking up a new company upon cease of the lease agreement with the present employer due to various reasons.

The Federal law indicates that the owner of the vehicle in accordance to the truck tile is liable to e-file the HVUT Form 2290. Having said that, an EIN is required in the first place before reporting the truck on the Form 2290 electronically. Besides, Usage of an SSN might lead to rejection of your tax return.

Hence, we urge the trucking community to choose the right business name under which the tax return needs to be e-filed to avoid such last moment mishaps. If you still not sure, you may feel free to contact the IRS 2290 e-file help-desk @ (866) 699-4096 before e-filing your HVUT Form 2290.