Category Archives: Tax2290.com

Have a question in mind? Enough said, we’ve gotcha covered!

We would like to thank all our registered users for all the positive vibes that have come our way, this helps us to constantly keep monitoring and upgrading our level of service.

Though E-File is the preferred way to go about completing form 2290 it certainly does have its share of questions, and having seen over a decade of tax returns let’s now take a look at the most general and frequently asked questions.

Yupp!! You got that right. It’s time for another round of questions and answers! So let’s begin:

1. Why is E-filing recommended by the IRS?

E-file (Electronic filing) is THE fastest way to receive the IRS Stamped Watermarked Schedule – 1 copy. Completing tax returns online is recommended by the IRS as taxpayers receive their stamped copies back in a few minutes. It is also mandatory to E-file when reporting 25 or more vehicles.

2. Who should file Form 2290?

Form 2290 should be filed on any vehicle with a combined gross weight (weight of the tractor, trailer, and maximum load) of 55,000 lbs or above.

3. When is this due?

The tax period always starts midyear from July 1st and ends on June 30th the following year. The deadline to have a 2290 renewed is August 31st. This also varies if you are reporting a new vehicle, for new trucks the deadline will be the last day of the month following the month the vehicle was first used.

4. Can I use a SSN/DBA to e-file this form?

The IRS will not accept a SSN/DBA when form 2290 is filed online, instead, you will have to use an EIN (Employer Identification Number) and the registered business. You can also apply for one online by visiting the IRS website https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online

5. Can I report for tax exemption?

Yes, you certainly can, any vehicle that does not exceed 5000 miles (7500 miles in case of an agriculture vehicle) can be reported under the suspended/exempt category. These vehicles will not have any tax amount due to the IRS.

6. What if a mistake was made on my 2290, can that be corrected?

There are amendments that you can file to get the errors corrected, the following are the different types of amendments listed by the IRS.

  • VIN Correction: A VIN Correction return is filed to correct any mistakes made on the VIN. A maximum of three characters can be corrected and once completed you will also receive an updated stamped copy with the right VIN on it.
  • Increase in Taxable Gross Weight: The tax amount you owe to the IRS is based on the vehicles gross weight, if there is an increase on the vehicles total gross weight you can file an amendment to get this corrected, on completion you will also receive an updated stamped copy with the correct weight category listed.
  • Suspended vehicles exceeded mileage use limit: If the vehicle was initially reported as suspended/ tax-exempt and down the line does exceed 5,000/7,500 miles then the vehicle will be considered as taxable and will owe tax dues to the IRS.

7. How do I make a payment to the IRS?

The IRS gives taxpayers three payment options:

  • EFW or Direct Debit (Electronic Funds Withdrawal): This option allows the IRS to directly debit your checking account.
  • EFTPS (Electronic Federal Tax Payment System): eftps.gov is a federal website that taxpayers must be registered with to login and schedule tax payments.
  • Pay Check or Money Order: Tax payments can also be made by mailing in payments in the form of a check or money order. You can also refer https://www.irs.gov/filing/where-to-file-your-taxes-for-form-2290 for information on the mailing address.

Note: Effective from January 2020 the IRS no longer accepts a Debit or Credit card payment http://blog.tax2290.com/alert-irs-credit-debit-card-payment-option-no-longer-available-to-pay-the-hvut/ 

8. I bought a new vehicle, can the taxes paid on the old truck be transferred?

The remaining tax amount for the unused months can be transferred if the old vehicle was sold, destroyed or traded. In the case of a sold/traded vehicle, the IRS will also require the buyer information. Credits can only be transferred if the new vehicle is listed as a taxable vehicle.

9. Can I claim a refund on the taxes paid to the IRS?

The IRS allows you to claim a refund by filing Form 8849 Schedule 6, refunds can be claimed for an Overpayment of taxes, Sold, Destroyed or Stolen Vehicles and if the taxable vehicle did not exceed 5,000 miles. Once accepted the IRS will mail you a refund check in about 21 business days.

10. I keep receiving letters from the IRS however I am no longer in business and have no trucks?

If you are no longer in business you will need to file a Final Return, this is done to let the IRS know that you will not be filing form 2290 and by doing this they will also stop mailing you reminders.

We hope that these questions and answers do help both new and existing users in filing form 2290 for the upcoming tax deadline. Form 2290 is due by March 2, 2020, for any new vehicles first used in January. Do file on time to stay compliant with the IRS and to avoid any penalties for late filing.

For any assistance feel free to reach our help desk @ 866-245-3918, you can also drop us an email to support@taxexcise.com or just use the LIVE Chat option available on our website.

Happy Trucking!!

Form 2290 Deadline is fast approaching for vehicles First Used in January 2020!

Tax2290.com the most preferred website to E-File Federal excise tax forms would like to keep you reminded about the upcoming deadline for form 2290. Filing form 2290 is made much easier and less complicated since e-file came into effect, the IRS strongly recommends to E-file if you are expecting to report more than 25 vehicles, this makes processing returns faster and stamped Schedule 1 copies are made available within a few minutes.

The Federal Heavy Vehicle Use Tax needs to be filed by anyone who has registered or is required to register a heavy highway motor vehicle with a taxable gross weight of 55,000 pounds or more in their name at the time of first use on the public highways. This filing deadline is not the same as the Vehicle Registration date. Irrespective of the vehicle registration renewal date form 2290 has to be filed for any vehicle used after July in a tax period by the last day of the month following the month the vehicle was first used on public highways. Form 2290 is due by March 2nd for vehicles first put into service in the month of January 2020.

Never miss out on the upcoming deadline, act fast and file your returns on time to avoid paying extra on top of your tax as penalties and interests along with late filing charges. You might also be wondering about how to complete this form before the deadline. We at www.taxexcise.com / www.tax2290.com are here to make your filing experience as easy as possible.

Do also browse and look into the other services offered since we are also an IRS certified provider for Claim of Refund Form 8849 (schedules 1, 2, 3, 5, 6 and 8) and The Quarterly Federal Excise Tax Form 720 and the preparation of IFTA (International Fuel Tax Agreement) For any support feel free to use our three-way line of communication, you can reach us at 866 – 245 – 3918 or write to us at support@taxexcise.com, LIVE CHAT support is also available that allows you to connect with our agents and get your questions answered instantly.

ALERT!! IRS Credit/Debit Card Payment option no longer available to pay the HVUT.

A shout out to all our truckers and fraternity of the Trucking Industry. TaxExcise.com the first authorized service provider by the IRS and the only service provider that has seen over a decade of tax returns pass by would like to keep you reminded that “Until further notice, paying the Heavy Highway Vehicle Use Tax by credit card or debit card is no longer available”.

The Credit/Debit card payment option was introduced by the IRS effective from July 2018. This made tax payments expeditious as this option was never made available since E-filing was first introduced. Your tax payment to the IRS completely depends on which payment option you choose and most users found that making a credit/debit card payment was much easier compared to the other available payment options. As per the recent update the IRS has officially stated that they temporarily will not be accepting payments using a Credit or a Debit Card, do visit https://www.irs.gov/e-file-providers/e-file-form-2290 for any further posts or updates about this latest news.

That being said the below payment options are still active and available for use.

  • EFW (Electronic Funds Withdrawal) or Direct Debit as we like to call it is the most preferred payment option, this allows the IRS to directly debit your checking account for the tax payment.
  • EFTPS (Electronic Federal Tax Payment System) allows enrolled users to log onto eftps.gov and schedule tax payments securely to the IRS.
  • Pay Check or Money Order is the most common and an old school way to pay the IRS by mailing in a check, this option is still practiced by most veterans of the trucking industry.

Irrespective of which payment option you choose you can always depend on www.TaxExcise.com to have your tax returns filed and submitted in a timely manner. Do report vehicles (either Taxable or Exempt) that were first used in January before the March 2nd deadline. Form 2290 for any new vehicles with a Gross Weight of above 55,000 pounds that was first used in January is due by the last day of the following month, and if the deadline falls on a weekend the next business day subsequently will be the last day.

We are just a click away, you can reach us by Phone @ 866-245-3918 or Email us @ support@taxexcise.com  do also check out the Live Chat option available on the website. This Three Way Line of Communication allows us to assist and help you complete your tax returns in an easy and effective manner.

E-File Now!! Deadline Fast Approaching for Form 2290, Q4 Form 720 & IFTA

3 Tax Forms, 3 Days, One Place to get it all Completed at TaxExcise.com !!

In the fast-paced Trucking Industry overcoming deadlines is the most essential part to stay compliant with the IRS, missing out on these crucial deadlines will result in penalties with interest for late filing. It feels like this year has just begun, but we are almost at the end of the first month of 2020. The interesting fact about the month of January is that you have Three Tax Deadlines corresponding together on January 31st.

CAUTION !! Deadlines Ahead.

Form 2290

Was your vehicle used for the first time in December 2019?

If YES, then you will need to file IRS Form 2290 by the end of this month to get your Schedule-1 Copy within minutes only at www.TaxExcise.com.

Form 2290 is due by January 31st for vehicles first put into service in the month of December 2019. You must file Form 2290 for these trucks by the last day of the month following the month the vehicle was first used on public highways.

Form 720

Form 720, Quarterly Federal Excise Tax Return has to be reported by the last day of the month following the calendar quarter, this form is filed every quarter to report taxes imposed on the manufacture, sale or usage of certain type of goods and products and the deadline for the 4th quarter of 2019 is January 31st. Failure to file or late filing will result in penalties with interest.

IFTA

International Fuel Tax Agreement report is filed for vehicles that travel in at least 2 or more IFTA jurisdictions. All reports will house the amount of fuel used and mileage covered for each jurisdiction traveled. IFTA fuel reports are due four times a year, the last day of the month after each quarter closes. Prepare this report for the fourth quarter of 2019 before the January 31st deadline.

With Three Tax Form deadlines fast approaching every day counts, the last few days will see an exceptional amount of returns being processed by the IRS, beat the deadline race by filing online using www.taxexcise.com / www.tax2290.com. Our user-friendly website allow users to report and complete tax returns in a cost-effective and timely manner. Returns processed online do get a quicker response and are accepted in just a few minutes.

Need Help Filing Online?

Do not worry, Our Tax Experts are just a phone call away. And did you know that we are the only online service provider that can be reached by Phone, Email and Live Chat? Yes, you heard that right, our three-way line of communication gives users multiple options for assistance. You can reach us @ 866-245-3918 or just drop us an Email @ support@taxexcise.com, do also try out our LIVE CHAT feature available on the website.

Stay compliant with the clearinghouse and the upcoming Tax Deadlines for Form 2290, IFTA and Form 720!

TaxExcise.com 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.

As per the new bill the Drug and Alcohol Clearinghouse has come into effect from January 6, 2020. Employers, drivers, medical review officers (MROs), substance abuse professionals (SAPs), and consortia/third-party administrators (C/TPAs) must register to access the Clearinghouse. Registration are available at https://clearinghouse.fmcsa.dot.gov/register.

Spoiler Alert !!!

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.

Do 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 @ support@taxexcise.com, do also try out our newly upgraded Live Chat Option available on the website.