Anyone who operates a truck or other vehicle categorized as a Heavy Highway Use Vehicle on public highways must complete Form 2290 (Heavy Highway Use Vehicle tax return) and pay excise tax. All truck owners can now file and pay electronically using IRS e-file.

IRS e-file is the best way to prepare and file your Form 2290 excise tax. IRS e-file saves you time, paper and postage. You get your Schedule 1 almost immediately after we accept your return, and you can get your taxes done from your computer while you are on the road, any time of the day or night.

If you are reporting 25 or more trucks on a return, you must file and pay electronically.

Resource: www.IRS.gov/trucker

Sunday, April 22, 2012

Filing your HVUT forms or form 2290

IRS Schedule 1 Form 2290 is used to pay Heavy Highway Vehicle Use Tax (HVUT). Those that need to pay HVUT can do so online through an IRS authorized e-filer. Online filing is mandatory when filing for 25 vehicles or more. Even if you don’t have a lot of vehicles, the IRS still recommends that file online. Make sure you use a secure and authorized online e-filer. The government uses the money received from the taxes to help maintain and improve roads.

Here’s some of the information you’ll need when you file.
  • - Name and company information
  • - Vehicle Identification Numbers
  • - Number of vehicles
  • - Gross weight of the vehicles
You can e-file your form 2290 at www.eform2290.com which is an IRS authorized website.



IRS Form 2290 Due Dates

The IRS Form 2290 for Heavy Vehicle Use Taxes (HVUT) must be filed annually for each taxable vehicle that is used on public highways during the current tax period. The normal tax period for heavy vehicles begins on July 1st and ends on June 30th of the following year. A Form 2290 must also be filed once a vehicle is placed in service. The due date for each month is the last day of the following month. For example: if a vehicle is placed in service on October 3rd, the Form 2290 will be due on November 30th.

You can e-file your form 2290 at www.eform2290.com which is an IRS authorized website.

Vehicle first used monthDue date
July-201130-November-2011
August-201130-November-2011
September-201130-November-2011
October-201130-November-2011
November-201131-December-2011
December-201131-January-2012
January-201229-February-2012
February-201231-March-2012
March-201230-April-2012
April-201231-May-2012
May-201230-June-2012
June-201231-July-2012
July-201231-August-2012
August-201230-September-2012
September-201231-October-2012
October-201230-November-2012
November-201231-December-2012
December-201231-January-2013

Friday, April 13, 2012

WHAT IS SCHEDULE 1?



Once you have submitted your Form 2290, the IRS will stamp your Schedule 1 as proof of payment. When E-Filing, the IRS will apply a digital watermark to your Form 2290 Schedule 1. This digitally “stamped” Schedule 1 serves as your HVUT (Heavy Vehicle Use Tax) proof of payment.


Watermarked Schedule 1 provided by IRS is the only document required to get tags for trucks


You can e-file your form 2290 at www.eform2290.com which is an IRS authorized website.



How To Pay The Tax?

There are three methods to pay the tax to IRS
1. Electronic funds withdrawal (direct debit) if filing electronically.
2. Electronic Federal Tax Payment System (EFTPS).
3. Check or money order using the payment voucher.


you can file your form 2290 at www.eform2290.com which is authorized by an IRS.







Tuesday, April 3, 2012

Penalties and Interest for form 2290


The law provides penalties for failing to file returns or pay taxes when due. There are also penalties for filing false or fraudulent returns. These penalties are in addition to the interest charge on late payments. The penalty for filing a return late or paying the tax late will not apply if you can show reasonable cause for not filing (or paying) on time. 
The penalty for failing to file IRS Form 2290 by August 31 is equal to 4.5 percent of the total tax due, assessed on a monthly basis up to five months. Late filers not making an HVUT payment also face an additional monthly penalty equal to 0.5 percent of total tax due. Additional interest charges of 0.54 percent per month accrue as well. 

www.eform2290.com is one of the IRS approved site to file form 2290