Welcome back truckers, a very warm welcome to our blog. Last week, we had posted a blog on the do’s and don’ts while pre filing form 2290. Today, we are posting the second and the last part of the blog. Hope we are successful in providing you with information you need while you are busy pre filing.
So let’s get started.
Do Get Your EIN early!
In order to file your Heavy Vehicle Use Taxes, you need to have an Employer Identification Number handy while you pre file/ efile. And if by any chance, you don’t have an EIN, you need to make haste and get one right away for yourself because it takes some time before it is activated to efile/ pre file form 2290 online through our website, Tax2290.com.
Don’t File a Tax Return with a New EIN:
You received your EIN. Well, that’s a good news, however, this won’t last for long since, it takes 10-15 business days for the EIN to come into activation mode. And if any return is filed before the EIN is active will be rejected. So if you need to get an EIN, apply online directly with the IRS, and do it now so you’ll be able to e-file for the tax season!
Do Note Your VIN and Gross Vehicle Weight:
When you pre file form 2290, you need to know both your VIN and GVW (Gross weight of the vehicle). You can calculate your own Gross Vehicle Weight simply by adding together three numbers:
1. The unloaded (tare) weight of the truck
- The unloaded weight of the trailer
- The maximum weight of the cargo customarily carried by the truck/trailer
Don’t Simply Estimate Your Gross Vehicle Weight:
It is very important to know your exact Gross weight of the vehicle or you will land up paying more than you need for your HVUT. It will also spell trouble if you head to a weigh station and your Schedule 1 details don’t match the scales.
So follow our simple 3-step calculation method listed above to calculate your Gross Vehicle Weight accurately.
Do Know the Types of Taxable Vehicles:
- Regular:A regular heavy vehicle can be any vehicle, weighing 55,000 lbs or more, that has driven over the 5,000 mile limit on public highways. For these vehicles, pre/ e-file your Form 2290 as normal and pay your heavy vehicle use tax.
- Suspended: Suspended vehicles are any heavy vehicle or agricultural vehicle that have been driven under their mileage limit for the tax year. For heavy vehicles, this limit is 5,000 and for agricultural vehicles, the limit is 7,500 miles. Suspended vehicles have to keep IRS informed about their suspension through their filed return; however, they don’t have to pay tax to the IRS.
- Agricultural: These vehicles are used for farming or agricultural. They are allowed to be driven up to 7,500 miles on public highways, until they are no longer considered suspended, at which time, HVUT is due.
- Logging: Vehicles that are used to transport forest materials within or from a foresting site, or a vehicle that moves forested materials from one site to another are known as logging vehicles. With such vehicles to file through form 2290, companies and drivers alike are eligible to pay less tax for the tax year. So, if you drive a logging truck, make sure you specify when you’re e-filing!
Don’t Miss out on Savings: They’re important!
If you drive a suspended or logging vehicle, you’re eligible for a tax discount! (See above) If you drive an agricultural vehicle, you can log more mileage during the tax year before your vehicle is considered a “regular, non-suspended” vehicle.
Do E-file with Tax2290.com
Why do you have to miss an opportunity to deal with great people, great price, and great product? Not only are we IRS-certified and secure, Tax2290.com is easy-to-use web application, features and specifications to make your tax filing session much more simpler than thought and of course, we have the world best tax experts at our end to help you, support you and clear your queries when required.
If you find yourself with any questions or concerns throughout your e-filing or pre-filing process, don’t hesitate to give us a call at 1-866-245-3918 or send us an email at support@taxexcise.com for 24 hour support.
Happy pre-filing, Truckers!