According to the Federal Law, HVUT Form 2290 is due by the last day of the month after the month in which the vehicle was first put in service. For the vehicles first used after April 1st, Form 2290 is due by May 31st, 2021. Even though the vehicle was bought or re-bought the owner is responsible for paying the taxes over the next 60 days which would be a pro-rated tax bill.
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Today, we would like to inform you that the Form 2290 deadline for vehicles first used in March is April 30, 2021 on a prorated basis. We will discuss and walk you through the different categories of vehicles that are filed using Form 2290 when filing the pro-rated form 2290, which is due in just 4 days. Just as not all gold glitters, not all truck/heavy vehicle you see on the highway is expected to file Form 2290. Taxed trucks, which are one of the vehicle categories on which form 2290 is used, are one of the most well-known types of vehicles for which taxes are imposed.
So, today, we’ll look for the other types of vehicles that are concealed inside form 2290. Stay with us and we’ll fill you in on everything you need to hear.
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No one should argue that we have a list of taxes scheduled to begin in March. It all starts with your business taxes and progresses to your personal taxes. Are these the only two taxes that must be paid, No!
For vehicles that entered service last month for the first time since July 2020, your Federal Excise Tax Form 2290 (HVUT) is due by the end of the month, just as it is every month. To clarify, any heavy vehicle with a gross weight of 55,000 lbs or more that was first used on the road in March 2021 and has been on the road since July 2020 is required to file a Federal Excise Tax Form 2290 (HVUT) by April 30, 2021. To collect your stamped schedule-1 copy in minutes, it is highly suggested to e-file your form 2290s.
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A gentle reminder from the Tax2290 team, the first IRS Approved E-file Service Provider to e-file federal excise tax form 2290, about the approaching tax Due Date.
With hundreds of things running through the back of your head, it’s easy to overlook things you only do once in a while. Taxes are one of the things that you don’t do too much. We understand that you have a lot on your plate, so we suggest that you E-file your Federal Excise Taxes as soon as possible to stop the last-minute scramble.
Taxes that are due April 30, 2021:
Form 720 is filed by businesses that deal with the sale of certain goods and services. These businesses are required to pay extra taxes, known as “Excise Taxes”. This Federal excise tax has four quarters for a calendar year and the deadline for each quarter is last day of the following month i.e, by April 30 for the first quarter, by July 31 for the second quarter, by October 31 for the third quarter and by January 31 for the final quarter. The first quarter of 2020 (for the months Jan, Feb and Mar) is due by April 30. And Even if you are not liable for excise taxes during any of the quarters of the year, you must send in Form 720 according to the due dates.
Due to the ongoing situation many businesses and essential services are closed and do not have any Excise tax to report. Though they have no sale to report they will still need to file out a Form 720 by reporting a Zero Return (Zero Tax Liability).
A zero return substantially means that no sale or business operations were conducted during that quarter. And Having Form 720 completed essentially allows the business to stay compliant with the existing norms and guidelines listed by the IRS.
Away from your desk, currently working from home, and is the tax deadline crunch getting to you, Look No Further !!
To ensure we are able to provide you with the best customer service, our tax experts are at your disposal for any Federal tax-related questions. Feel reach us on our toll-free number @ 866-245-3918 or drop us an email to support@taxexcise.com do also try out our LIVE CHAT option available on the website. We’re available on all Business days between 9:00 AM to 6:00 PM Central Time. Thank you for your support.
Note: The IRS offices might not be at your reach, but they’re fully operational to support E-filing and all the returns filed through our website are being processed by the IRS within minutes.
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