The Heavy Vehicle Use Tax Form 2290 is due for renewal every year before August 31. Taxes are part and parcel of any business and it is unavoidable. One such tax filed by Truck Owners and Trucking Companies is the Heavy Vehicle Use tax (HVUT) Form 2290. This Tax must be filed annually for any heavy vehicle with a gross weight of 55,000 pounds or above. Since the tax Period for HVUT starts from July and ends in June the Tax is paid in advance by the beginning of Tax Year, the due date to have Form 2290 renewed for Tax Period 2020 – 2021 is August 31.Continue reading
“Opportunities are like sunrises. If you wait too long, you miss them.” William Arthur Ward
Trucking is not just a job it is a way of life. Every driver will always try to seize an opportunity to make the best out of it. Missing out on an opportunity to file and prepare taxes will not only result in penalties but also interests for late filing. With the deadline looming just a few weeks away we would like to keep you reminded to have the 2290 HVUT completed on time and stay compliant with the IRS.
Now you may wonder with the deadline at the end of the month, why file ahead?Continue reading
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.Continue reading
Truck Drivers spend countless hours perfecting their talent. They just don’t pass tests, get licensed, pick up a load, and travel hundreds of miles to expect immediate perfection. They understand that they will make many errors as they learn, but they start with the basics, the key fundamentals first. Having all the required documents and paperwork is the most basic foundation every driver must enhance. Amongst their busy schedule, the necessity to file on time and stay compliant with the IRS has always been a big hurdle.
Being the only decade old provider and through expertise gained over the years, we at TaxExcise.com have always strived to perfect and simplify the process of filing the HVUT Form 2290. Every year we tend to bring out new features based on customer feedback and ever-changing market conditions. Let us take you through a few features that most users are not aware of, and help you understand how to overcome these situations with ease.
Clone ReturnContinue reading
In an era when smartphones and tablets have taken over, filing tax returns through paper is slowly going extinct and completing tax returns online is the need of the hour as it is easier, precise and efficient. The less complicated your tax return is, the more rudimentary is the preparation for it.
The slight panicky feeling that happens when deadlines approach and start to accumulate is every tax payer’s worst nightmare. These tax deadlines happen once every year or every quarter and failure to address them results in penalties and interest from Uncle Sam.
It’s time now to put on your thinking hat and have these tax returns completed in order to stay compliant with the IRS. A Few Tax forms that are Due this month would namely be:-
- Form 2290: The Federal Excise Tax Form 2290 also known as Heavy Vehicle Use Tax (HVUT) is due for renewal for the current 2020 tax year. And the deadline to report any new Vehicles first used in the month of June is due by July31st.
- IFTA: International Fuel Tax Agreement is due by July 31st for the second quarter of 2020.