Everything these days come with an expiry date, so does our tax season for the year 2015-16. With only 3 more days in hand to compete our tax filings, taxpayers this shall be the last call for people who are yet to file with their tax return IRS form 2290 online via Tax2290.com.
Intro To Heavy Vehicle Used Tax:
Heavy Vehicle Used Tax is an annual fee collected by IRS for the heavy motor vehicles that operate on the public highway with the registered gross weight of 55,000 pounds and more. Since form 2290 supports various other types of vehicles apart from heavy vehicles, you need to know your exact Taxable Gross weight of the vehicle. If you are wondering, how you can analyze the TGW, keep reading. We found out the formula.
- The actual unloaded weight of the vehicle fully prepared for service
- Actual weight of trailers and semitrailers prepared with service and customarily used in the combination of the vehicle and,
- The maximum freight carried by the vehicle
How Do I Justify That My Vehicle Is Taxable Or Not?
Well, every vehicle that weigh more than 55,000 pounds are categorized as taxable vehicles, however, if your vehicle is designed to deal with forest goods and forestry, your vehicle is categorized as logging vehicle. Thus, you are included in the taxable vehicle list, but you are running on concession. Comparatively to what taxable vehicle pays, you as logging vehicle will pay quarter of the tax, which is an added advantage to logging vehicle filers.
Other than taxable and logging vehicle, there is a vehicle type called suspended vehicles. You can categorize your vehicle as suspended only when your vehicle is designed to travel less than 5,000 miles a year. You have to report your form 2290 to the IRS in order to keep IRS informed about your vehicle suspension, but not tax is required to be paid.
And if your vehicle is categorized as exempted vehicle (Government Vehicles), you don’t have to file or report form 2290.
Last but not the least, there is an agricultural vehicle as well, wherein, this vehicle is used for agricultural and farming purpose only. They are allowed to drive up to 7,500 miles. However, if there is mileage increase during the taxation year, you are mandate to file form 2290 online Amendment return.
Why Do You Have To Choose Efiling Over Paper Filing?
Paper filing was the traditional method that was initiated when taxes came into existence. And since then, paper filing was the well known method to pay your dues and report taxes. We have listed the cons of this method for your better understanding.
- Maintenance of data for future usage is tedious
- Opting for papers is not so eco-friendly
- Errors and miscalculation will always be a part of your tax
- The return filling process is really slow with paper filling
- Delay in receiving schedule 1 copy
- No human assistance
However, you can overcome these disadvantages with online filing.
- Maintain your data with ease and access to it anytime
- Eco and user friendly
- No room for errors and miscalculations
- The processing time of your return is only minutes
- Receive your schedule 1 copy in minutes
- Ask for assistance any time while filing, even during the weekends
With only 3 days in hand to efile and report form 2290 online, come over and file your tax return online with utmost ease. Tax2290.com always encourages its users to efile form 2290 and pays their dues online as efiling is safe, reliable and user-friendly. You are not only applicable for benefits that come your way, like Text Alert and Fax Copy but also you can enjoy services like getting your tax calculated and error checked without paying anything extra. Come over and seal a deal with Tax2290.com. You can expect immediate assistance from our Tax Experts about your Taxes through chat, email or phone. Simply reach us @ 1-866-245-3918 or email at support@taxexcise.com.