Unlike many other tax return deadlines, the deadline on the Heavy Vehicle Use Tax Form 2290 has not been extended. Every truck driver who travels in and around America will need to file new returns before the actual due date of August 31st. During recent months due to the sudden surge of filings taking place, the IRS has also issued certain guidelines to make this process less cumbersome.
The following are a few key points issued by the IRS for Form 2290.
As the saying goes “Cometh the hour, cometh the man” Our Truckers just simply do not fail to amaze us! When all hope fails they are our first line of defense, being on the front line amidst this COVID-19 crisis, risking their lives to make sure our shelves do not run empty and all the while ensuring that much-needed essentials are transported far and wide across the country. It sure is a tough job and not for the faint-hearted.
We at Taxexcise.com love showing appreciation to our truckers for their dedication and safety, and we would go above and beyond to see that your Form 2290 issues are handled while you’re on the road, something we have been doing for over a decade and are best at. After all, our supply chain depends on your reliable transportation.
A Gentle reminder for trucks that were newly purchased or first put into service in the month of April, the deadline to have these vehicles reported on a 2290 is May 31. Due to the lockdown and social distancing Electronically filing your tax return has come in handy and is the most easiest and convenient option to have your return filed on time, though the IRS offices are closed their E-File services are operational and returns filed online are being accepted within a few minutes.
Under the CARES Act, the Internal Revenue Service (IRS) has
been issuing Economic Impact Payments (stimulus checks) as part of the economic
relief effort. The Internal Revenue Service announced significant enhancements
to the “Get My Payment” tool to deliver an improved and smoother experience for
Americans eligible to receive Economic Impact Payments.
The enhancements, which started last month, adjusted several
items related to the online tool, which debuted on April 15. The additional
changes will help millions of additional taxpayers with new or expanded
information and access to adding direct deposit information.
“We delivered Get My Payment with new capabilities that did
not exist during any similar relief program, including the ability to receive
direct deposit information that accelerates payments to millions of people,”
said IRS Commissioner Chuck Rettig. “These further enhancements will help even
more taxpayers. We urge people who haven’t received a payment date yet to visit
Get My Payment again for the latest information. IRS teams worked long hours to
deliver Get My Payment in record time, and we will continue to make
improvements to help Americans.”
“We encourage people to check back in and visit Get My
Payment,” Rettig added. “These enhancements will help many taxpayers. By using
Get My Payment now, more people will be able to get payments quickly by being
able to add direct deposit information.”
How to use Get My
Available only on IRS.gov,
the online application is safe and secure to use. Taxpayers need a few pieces
of information to quickly obtain the status of their payment and, where needed,
provide their bank account information. Having a copy of their most recent tax
return can help speed the process.
For taxpayers to track the status of their payment, this
feature will show taxpayers the scheduled delivery date by direct deposit or
mail and the last four digits of the bank account being used if the IRS has
direct deposit information. They will need to enter basic information
Social Security number
Date of birth, and
Mailing address used on their tax return.
Taxpayers needing to add their bank account information to
speed receipt of their payment will also need to provide the following
Their Adjusted Gross Income from their most
recent tax return submitted, either 2019 or 2018
The refund or amount owed from their latest
filed tax return
Bank account type, account and routing numbers
Get My Payment cannot update bank account information after
an Economic Impact Payment has been scheduled for delivery. To help protect
against potential fraud, the tool also does not allow people to change bank
account information already on file with the IRS.
At www.TaxExcise.com we know that truckers are the mainstay of America, they transport almost all basic necessities such as food, clothes to medicine and electronics. If you’ve got it, then a trucker brought it!
Trucking is a major source of employment with over 8 million people working in trucking related jobs to over 3.5 million truck drivers, the total revenue brought in keeps increasing at a phenomenal rate with over 800 billion a year. As this figure keeps increasing it also does bring about new rules and limitations on certain regulations.
has been the most preferred website for E- filing since 2007 and is the first IRS authorized service provider, through
the course of all these years we have set our standards to a certain level so
as to gain expertise and knowledge about any new updates, which in turn helps
us to serve you better.
The start of the New Year naturally brings with it new responsibilities that make us pause and tread with caution. The Trucking Industry has an unstable market and makes us all wonder what the government will do next since New Laws and Regulations are quite common in the trucking business.
A new transportation bill was passed by Congress which will allow the
trucking industry to create more jobs and strengthen our transportation system
by monitoring and improving highway safety.
The Clearinghouse is a secure online database that will
give employers, FMCSA, State Driver Licensing Agencies, and State
law enforcement personnel real-time information about CDL driver drug and
alcohol program violations, thereby enhancing safety on our Nation’s roadways.
This new rule will allow employers as well as the FMCSA mandate drug and
alcohol testing programs. This will allow employers to know if the hired driver
is capable of performing functions safely while operating a vehicle.
That being said, let’s get back to business, we would also like to keep
you reminded about the upcoming tax form deadlines. The following tax forms are
due by 31st January 2020.
HVUT Form 2290
Any vehicle used after July in a tax period would only pay a pro-rated
tax amount due
by the last day of the month following the month the vehicle was first used on
public highways. Form 2290 is due for vehicles first put into service in the
month of December 2019, January 31st will be the last day to file Tax
Form 2290 on those units.
Tax Form 720
Form 720 is used to pay the quarterly Federal Excise Tax that is prepared by any business that deals with goods and services subject to excise tax. Excise Tax Form 720 for the 4th is due on or before January 31, 2020, do have this completed on time to avoid any penalties with interest for late filing.
Tax Form IFTA
The International Fuel Tax Agreement is also due Quarterly for drivers who travel between two or more member jurisdictions (48 states and 10 Canadians Provinces) this report needs to be filed and taken to their respective Local Jurisdictions for renewing their IFTA license. Tax Form IFTA for the 4th Quarter of 2019 is also due by January 31, 2020.
You might also be wondering about how to get these forms completed as soon as possible and most importantly before the deadline. We at www.taxexcise.com / www.tax2290.com are here to make your filing experience as easy as possible. If you are already a customer, just click on the above link to log in to your account and report the tax returns. But if you are not a customer yet, it is never too late to start on a smooth and easy path that will make your filing experience less complicated and convenient. Just click on the link and join thousands of businesses and owner-operators that are currently using our E-file services.
not miss out on the January 31st deadline to report these forms as
failure to report or file on time will result in penalties and interest.
In order to assist you better, we are one of the few providers that has
a three way line of communication, this allows our users to reach out to us for
any tax related questions or advice. You can reach our Tax Experts @
866-245-3918 or you can also email us @ firstname.lastname@example.org,
do also try out our newly upgraded Live Chat Option available on the website.