Tax form 2290 Questions – Reporting Suspended Vehicles

Recently, we had a question from one of our customers. The answers we usually give our customers in return to their Form 2290 related queries are so good that they don’t come back with another question pertaining to the same. For more reviews on us, click here. Anyways, we thought we should share one such answer to all our readers so that when they face similar situations with respect to trucker’s tax filing, they find answers themselves over the internet.

Q: A vehicle was filed as a suspended vehicle last year and was transferred / sold to someone, which was eligible for suspension at the time of the transfer. Should that be reported in this year’s form 2290?

A: When a taxable vehicle is sold before the end of the tax year everyone remembers to report it because they get a credit on the taxes paid on that vehicle. As per the form 2290 Part II Line 9, any vehicle reported as suspended in the  prior year that was sold or transferred to a third party before the end of the tax year, has to be reported. This is to let the IRS know that the vehicle was eligible for suspension of taxes during the transfer. It should also have the person’s name it was transferred to and the date it was sold/transferred. Continue reading →

Solutions To Truck Parking Space Issues

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– A Survey Initiative by ATRI – Participate Now!

In the trucking industry, driver fatigue has been contributing actively in increasing the number of accidents year by year. One factor that attaches itself as a reason to this has been the issues in finding proper parking spaces so that drivers rest peacefully for the time they have to. When they don’t find the right parking space to rest, they may drive for longer hours than what is meant to be safe or may find themselves not sleeping calmly. In order to address this, the FHWA (Federal Highway Administration) is keen on developing a real-time parking information system currently and is supporting the ATRI (American Transportation Research Institute) in getting them the required information resources. Continue reading →

Who should file Form 2290 after the season deadline?

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If you own a heavy vehicle that has a taxable gross weight of 55,000 pounds or more, you must have filed your Form 2290 for the same without any penalty before September 7, 2012 (Extended e-filing deadline that applied for this year). If you wish to register another heavy vehicle in your name under State, District of Columbia, Canadian, or Mexican law during this year’s Heavy Vehicle Use Tax period (July 1, 2012 – June 30, 2013), you need to file Form 2290 for it as well. Continue reading →

Things to know/do after filing form 2290

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It’s always a great thing to have filed and paid your taxes on time. By filing form 2290 and paying the applicable heavy vehicle use tax due amounts to the IRS, you have done your part in helping the Federal government maintain good highway roads for your use as well as for the public. The IRS will now perform its duty to forward the collected amounts to the treasury and from there to the respective states for road maintenance activities. While you take your vehicle for official or unofficial outing through the highways from now on, you can be proud of travelling on healthy roads, constructed with your important contribution.

The highway roads will definitely pay off well in return to your tax returns with reduced number of accidents, time and money savings, increased mobility, congestion ease, decreased energy consumption, boosted air quality and so on and on. So, dear filers who have paved way for such a contribution by filing your returns through our IRS authorized e-file software, taxexcise, it was indeed a great pleasure for us to have served you!

You are introduced to two more things now, after having filed and paid your HVUT returns. They are,

Filing Amendments

If you have to make any corrections on the VIN for which you have filed your returns already or if you fall into a new category of increased gross weight from what you had mentioned or if your suspended vehicle increased from the specified mileage numbers, you have to file form 2290 amendment with the IRS. It’s a cake walk, if you are doing it all through us. Choose the option you are entitled to and make the necessary changes, make payments if applicable, transmit to the IRS out of a button click and get your schedule 1 copy within minutes. Otherwise, you will have to experience the difficulties and headaches in paper filing when compared to e-filing.

Claiming refunds

“I have overpaid my tax due to a silly mistake that I have done while filing form 2290“

“Someone has destroyed my vehicle out of vengeance or I don’t know why”

“Who the hell stole my vehicle?”

“What next? I have sold my vehicle off to him!”

“I have used my vehicle less than 5000 miles last year”,

If you hear your mind whispering or screaming any of these or any such kind, it’s high time you proceed to claiming refunds. The IRS is so considerate and understanding of its countrymen that they have such options to support with refunds for the above inferred conditions. For more details related to form 2290 refund claims and when they can be claimed, click here. Thanks to them! And, not to forget, for claiming refunds that you acquire out of filed form 2290s, you have to use our tax8849 schedule 6 (Other claims). You go to tax8849.com and it will guide your pockets to getting filled with your refunded as soon as possible after approval from the IRS.

Last day under extension to file Form 2290 & pay HVUT

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For the little time (just more than half a day may be!) the IRS shut its Form 2290 e-file system on the 31st of August, 2012, they wished that their HVUT return filers and taxpayers shouldn’t face much of an inconvenience. And, extended the due date for filing form 2290 and payment of HVUT 3 days further from the time they got back in action. Half a day has been compensated by 3 days. This has to be appreciated since they want to collect as much as tax possible from the nation’s heavy vehicle user group and give America back the best of roads. It’s not that they don’t have any other work to do or it is the primary source of income for them. We have to see it as ultimately the revenue collected by the IRS is going to be distributed to the states to maintain our nation’s highways, for the convenient & safe running of trucks and other vehicles on them. After all, the IRS officials have to put in more efforts in their daily official chores for the after-filing procedures, as a result of the three days extension period. Like how a trucker will have loads of goods to be delivered in case he takes off for three days. Continue reading →