So what is going on, fellow truckers? The roads are busy, the trucks are filled and the tax is left due for the month. If you are one among them, bought your vehicle on road for the first time, you are liable to file form 2290 online or paper file before the due date, i.e. 31st of January 2015. With so little time left, it can be tempting to really get this filing get going through efiling and complete the procedure ASAP.
But you never know, in haste you might be welcoming careless mistakes, which would cost you heavy. A rejected return only means having it do all over again and no one would relish it!
Yet, there is always a silver lining. By efiling with Tax2290.com instead of paper filing, you are already much less likely to make mistakes. We have a built-in error check that ensures your return is fit-to-be-filed before you transmit it to the IRS. Pieces of paper can’t do that! Additionally, you’ve got our Tax Experts by your side, expertly answering all of your tax questions. So there’s no reason to file blindly and hope you’ve got it right!
Of course, with hundreds of thousands of efilers out there, an occasional slip does happen. Here are the five mistakes to avoid, straight from the efiling experts themselves!
1. Incorrect First-Used Month: This error may not get your return rejected, but it will cause issues when it comes to your tags. The tax year for HVUT begins July 1st of every calendar year. This means that for all renewals (trucks that have been in use already), the first-used month is automatically July, even if you’re filing in August. The only time you’d choose a later month is if the truck is purchased after or before the beginning of the tax year. For example, if you purchase a new truck in December, then that would be the first-used month. Obviously, January!
2. Name or EIN Mismatch: Your name, business name, and EIN must match exactly what the IRS has on file. If any of these are different, the return will be rejected. If you are unsure of the name or EIN on file, you should quickly call the IRS to verify. The IRS EIN Hotline is 1-800-829-4933.
3. EIN Not Registered: So you’ve already registered for an EIN, but the IRS isn’t showing any record of it. This is normal if your EIN is new. It takes up to 10 business days for the new EIN to be entered into records. And if you don’t have an EIN yet, you can apply online. Click here to know more.
4. VIN Errors: These 17 little digits can make or break your return! Most often, incorrect VIN numbers lead to a duplicate filing error. This occurs when you accidentally try to file a return for the same truck more than once. The IRS will only allow a VIN to be processed once within the tax year. And if you have accidentally filing with the wrong VIN, the same would be imprinted on your schedule 1 copy. You need to correct it as soon as you realize it. Or you will have to answer the auditors during the audit.
However, there’s a good news! When using the Bulk Upload option to import your vehicle information from a CSV or Excel file, our application will let you know right away if you’re uploading duplicate VIN’s. Moreover, if your return is rejected for a duplicate filing error, our Tax Experts will help you find it and correct, all free of cost!
5. Incorrect Bank Routing #: This nine digit bank code can be found along the bottom left of a check, just before your account number. If you elect to pay your taxes by EFW (Electronic Funds Withdrawal), you will need to enter this information correctly, or your return may be rejected.
If your return is rejected, you can correct it and re-transmit it to the IRS free! Only if you E-filed with Tax2290.com! Adding up reasons to ditch the old traditional method- Paper filing. You’ll also receive your stamped Schedule 1 within minutes of your return being accepted, something else that paper-filers miss out on.
If you’ve hit a roadblock or had your return rejected, don’t hesitate to reach our Tax Experts @ 1-866-245-3918 or shoot an email to support@taxexcise.com.