IRS Tax Form 2290 is used to report taxes on Highway Heavy Trucks. A truck weights 55,000 lbs and more are Heavy Trucks has to file Form 2290.
Efiling:
Electronic filing is required for each return reporting 25 or more vehicles that the taxpayer files during the tax period. However, all taxpayers are encouraged to file electronically with www.TaxExcise.com / www.Tax2290.com Continue reading
Form 2290, Heavy Vehicle Use Tax has to be reported for a vehicle weight 55,000 lbs or more. Depending on the Gross Weight the category of a vehicle will changes.
Taxable Gross Weight:
The taxable gross weight of a vehicle (other than a bus) is the total of:
Actual unloaded weight of a vehicle is the empty (tare) weight of the vehicle.
A trailer or semitrailer is treated as customarily used in connection with a vehicle if the vehicle is equipped to tow the trailer or semitrailer.
Form 2290, Heavy Vehicle Use Tax has to be reported for a vehicle weight 55,000 lbs or more. each vehicle is identified by a vehicle number.
The VIN of your vehicle can be obtained from the registration, title, or actual vehicle. Generally, the VIN is 17 characters made up of numbers and letters. Be sure to use the VIN for the vehicle and not from the trailer.
The Vehicle Identification Number will not contain the alphabets “I”, “O” “Q” for some administrative reason, please ignore using the same. Cross check if you find these alphabets, you might have read wrong.
The VIN is very important to report your Form 2290 taxes with IRS. Every vehicle is identified by the VIN.
By mistake if a have reported a wrong VIN in the original Form 2290 then you are suppose to fix it by filing an 2290 amendment for VIN correction. Yes, it can be now filed electronically [e-file]. We offer this service for the 2290 users. Apart from reporting VIN correction, you have the option to report increase in gross weight from original 2290 reporting and increase in mileage limit from original Form 2290 reporting.
Vehicle used less than the mileage use limit. If the tax has been paid for a period on a vehicle that is used 5,000 miles or less (7,500 miles or less for agricultural vehicles), the person who paid the tax may make a claim for the credit.
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IRS Form 2290 is to figure and pay the Heavy Vehicle Use Tax [Truck Tax] to the IRS. By efiling form 2290 it is possible to get Schedule-1 in minutes. To efile a IRS form 2290, you need to have the following tax details ready
Business Name, EIN [Employer Identification Number], VIN [Vehicle Identification Number, Gross Weight…
Vehicle Identification Number:
The Vehicle Identification Number (VIN) is a distinctive number assigned to a vehicle to identify it for changing title, vehicle registration and other functions. It contains 17 digits of alphanumeric characters.
VIN Correction:
When you have Vehicle identification numbers of up to 17 characters with mixed of numbers and letters, mistakes happen. For example, You type 5 instead of S. To err is human.
For Example, Let’s say that you file form 2290 and pay $550 to IRS and get your Schedule-1. You take it to the DMV or the Carrier, then you realize, that the Schedule 1 has the wrong VIN. Then need to report 2290 Amendment for VIN correction.
Personal Income Tax Extension Form 4868 is due on April 18th, 2011.
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