A failure is not always a mistake, it may simply be the best one can do under the circumstances. The real mistake is to stop trying – Skinner
IRS is well aware of the fact that Mistakes does happen and also have gifted E-filers with a solution to correct them. There are three such errors that commonly happen when one tries to file Form 2990 that can be corrected by E-filing Tax Form 2290 Amendment.
- VIN Correction: Simplest and most common mistake done while Filing Federal excise tax Form 2290 is mistyping one or more characters on the VIN. Though it’s a simple typo, the consequences can be big. One cannot register or get Tags on his/her Truck with an incorrect VIN on the Schedule 1 copy.
- Suspended Vehicle Exceeded Mileage: It is a well-known fact that Federal Excise Tax form 2290 is filed in advance for the upcoming Tax year. Which simply means it is based on your assumed calculation the miles that you expect to travel on your vehicle for the tax year. A vehicle is reported as a suspended Truck if you expect to use your vehicle for less than 5000 miles. Your calculations can go wrong; you may exceed the mileage use limit before the end of the Tax year.
- Taxable Gross weight Increase: HVUT tax amount is calculated based on the gross weight of the vehicle, gross weight of the vehicle is calculated by adding up the weight of the Truck, trailer and the load. If he/she makes a mistake by entering a lesser gross weight while filing Federal Excise Tax Form 2290, it means he/she has paid lesser tax than they actually owe.
All the above mentioned mistakes can be corrected in minutes by E-filing a Form 2290 Amendment through www.Tax2290.com . While filing for an VIN correction you do not pay any taxes to the IRS, but while filing the other two amendments you owe taxes to the IRS and www.tax2290.com lets you submit your payment information when you E-file your Form 2290 Amendment.
Note: HVUT Form 2290 for vehicles first used in April 2019, since July 2018 is due by May 30th 2019.
Reach our Tax Experts for assistance @ 1-866-245-3918 or write to them @ support@taxexcise.com or ping them using the LIVE CHAT Option on the website.