Category Archives: IRS Updates and Tax Tips

Form 2290 Amendments can now be e-filed with IRS.

Do amendments online

Tax form 2290 can now be filed electronically, likewise amendments to 2290 can also be filed electronically with www.Tax2290.com / www.TaxExcise.com

Wrong VIN Number

In case you reported a wrong VIN number by mistake, a 2290 tax amendment filing becomes mandatory. Now it is possible to efile amendments for VIN Correction with www.Tax2290.com

 

Gross Weight Exceeded

In case the gross weight of the heavy vehicle increased from reported 2290, then the tax amendment form filing is required. Now it is possible to efile amendments for increase in gross weight with www.Tax2290.com

 

Mileage Limit Exceeded

A tax amendment filing is required also in case the heavy highway vehicle mileage limit has exceeded the normal limit. Now it is possible to efile amendments for increase in mileage with www.Tax2290.com

Tax payers need to file a tax amendment to rectify changes or include additional tax information to an e-filed or filed tax return accepted by the IRS. Get more help by calling Customer Support at 1-866-245-3918 or simply write your queries to support@taxexcise.com

Proof of payment for state registration

Proof of payment for state registration

Generally, states will require verification of payment of the tax for any taxable vehicle before they will register the vehicle.

Use the stamped copy of Schedule 1 as proof of payment when:

* Registering vehicles with the state, or
* Entering a Canadian or Mexican vehicle into the United States.

If you do not have the stamped copy, you may use a photocopy of Form 2290, Schedule 1, and both sides of your canceled check as proof of payment.

IRS stamped Schedule 1 copy:

In efiling service the Schedule 1 copy will have IRS efile watermark, with received date. This is the valid Schedule1 copy from IRS and accepted across states for registration and proof of payment.

In paper return the schedule 1 copy will be stamped as paid by IRS.

IRS Continues Efforts to Ensure Accurate Return Preparation; Reminds Tax Preparers to Sign Up for PTINs

WASHINGTON — The Internal Revenue Service has started sending out more than 10,000 letters to tax return preparers nationwide to remind them of their obligation to prepare accurate tax returns on behalf of their clients.

Also, during the 2011 filing season, IRS representatives will visit approximately 2,500 tax return preparers who received these letters to further discuss their responsibilities as a return preparer and to verify their compliance with existing requirements.

The tax agency is sending the letters to paid preparers who completed tax returns in which the IRS has identified common errors. The letter includes an enclosure that reminds tax return preparers of their responsibilities and consequences of filing incorrect returns. Continue reading →

Interest Rates Decrease for the First Quarter of 2011

WASHINGTON – The Internal Revenue Service today announced that interest rates for the calendar quarter beginning January 1, 2011, will decrease by one percentage point.  The rates will be:

  • three (3) percent for overpayments [two (2) percent in the case of a corporation];
  • three (3) percent for underpayments;
  • five (5) percent for large corporate underpayments; and
  • zero and one-half (0.5) percent for the portion of a corporate overpayment exceeding $10,000. Continue reading →