Hello there truckers, over this article we are going to discuss on how to go about reporting an increase in the Gross weight of your truck. We on daily basis receive calls from our clients required to file an amended 2290. Often customers confuse between VIN correction and amendments. If you have done a mistake on the VIN numbers you have to do a VIN correction, If you have to correct the mistake occurred on their taxable gross weight of the vehicle that’s when you do an amendment. Now refers to this article to get a clear picture on this scenario.
Basically the Form 2290 is known to be the Heavy Highway vehicle used tax return which is filed on vehicles which possess a minimum gross weight of 55000 lbs or more and if the same truck is been used over the public highway for commercial purposes.
Dear HVUT filers, As we have learned to live along with the pandemic Virus on the loose we also have good news around different parts of the world regarding a vaccine for a cure. Hope it brings a breakthrough and saves lives. Till then be safe and sanitized. As you know the HVUT Form 2290 is now due for a for the vehicles bought or used since December 2020 Period beginning July 1, 2020 through June 30, 2021, thousands of truckers have e-filed their HVUT Form 2290 for the current period already and what about you ?
Hey there truckers! Hope you’re all covered up with your taxes and had a stress free new year. There’s always a deadline coming up every month and as you know it’s time to report your vehicles bought in the month of December 2020 before January 31, 2021. Though most of you prefer to file your tax returns electronically we do get contacted for the manual filing process. Due to the pandemic, the IRS offices are closed and the only option would be is to file your taxes electronically. E-filing make your filing experience easier and faster when compared to manual filing.
The IRS would go down for a routine year end maintenance schedule to upgrade the system for the new tax year. The impact would be on all the tax returns filed after December 26, 2020. IRS will not be available until 1st week of January 2021 to issue the acknowledgment proof. This would impact the Federal Vehicle Use Taxpayer reporting their heavy highway vehicle since July 2020. For vehicles operated for the first time in November 2020 will be due by December 31, 2020. We advised all the 2290 taxpayers to report it by the Christmas week to receive back the IRS watermarked Schedule 1 receipt. If you miss then you would not be able to receive a copy until 1st week of January.
The IRS E-file Servers will be shut down for Year-End Maintenance every year by Christmas to prepare their systems for the upcoming Tax Year’s Filing, e-file Form 2290 before IRS shutdown to receive stamped sch.1 copy within minutes else you need to wait till 1st week of January until IRS opens to start processing tax returns. Continue reading →
Hey there dear truckers! Hope you are safe and sound. Christmas celebrations are not to be missed as it brings comfort to the sour life amidst the covid-19 pandemic. It’s time to trim the trees, wrap the gifts, and bake the cookies, As we eagerly await the arrival of Christmas!
Beyond the presents and the presence of family and friends that accompany us during Christmas and New Year’s eve; It is helpful to remember to take some time to be thankful, to literally be present amongst the people who matter most in our lives, and to find some time for solitude to gather the inner strength that will carry us onwards and upwards in the new year.
Hello there truckers, Christmas is around the block and not to mention a fresh year ahead. It’s been a wild ride so far and thank god for the year 2020 is almost over, yes the pandemic has made us run for our lives. The emptiest year has ended and a fresh start is up ahead with the news of covid-19 vaccines in mass production, hope the next year would be a better and promising one. Let’s talk about our taxes now, The Internal Revenue Service online servers usually go off-line every year during Christmas Eve to upgrade their servers to generate updated forms and support tax returns for the upcoming tax period.
The IRS usually schedule their annual maintenance period beginning December 26th, and we expect the IRS to officially recommence full operations during the 1st week of January and it should be the same this year. Now during this maintenance period, the IRS servers completely turn out to be idle hence, No tax returns that are e-filed will be processed by the IRS until the maintenance period is ceased.
Wow, a year has just gone down in a flash didn’t it? it has been a rough year but we all had a whole year with our family together as one and faced the pandemic with caution. Let the countdown begin as the year 2020 comes to an end and so does the pro-rated filing for your trucks.
The Prorated tax concept is basically calculated from the month of the vehicle’s first use. That being said the payment date would be your next question. Well, as per the IRS the “Prorated taxes are to be paid by the last date of the month following the month in which it was first used”. So the taxes for the vehicles bought by November is NOW due and the deadline to pay with no penalties would be 31st Dec 2020.
Hey truckers it’s once again time for a few pointers and transfer of knowledge about your HVUT Form 2290 filings. The filing season was a hectic one, wasn’t it? Since you are done with filing the returns hope you checked your schedule-1 copies for any mistakes. Any mismatch in the information would end up as a void filing. The recent question which we faced was about “2290 AMENDMENTS”. In this blog, we are going to see when to file an amendment and how to and when not to.
An Amendment is bringing about a change or
correction to an existing return. People often confuse between VIN correction
and an amendment. The VIN correction needs to be done on a separate filing and
this doesn’t relate to anything with the Amendments.
Amendments are basically for reporting two
things
When there is an increase in gross weight (truck, trailer, and max load capacity)
When the suspended vehicle exceeds the mileage limit (over 5000 miles)
Truckers, we got to remind you about the upcoming HVUT tax deadline by November 30, 2020 for vehicles first used since October 2020. This deadline has been drafted based on the Federal Law that indicates that Form 2290 needs to be filed by the last day of the month following the month of its first use.
This deadline is considered to be applicable for vehicles that are purchased/re-purchased or in use since October 2020. This deadline does not have any impact on regular annual renewals done in July & August of every year.
The Heavy Highway vehicle used taxes are generally paid on vehicles with a minimum taxable gross weight of 55000 lbs or more and if the subjected vehicle is used on the public highways for commercial & agricultural purposes.
Unlike the other taxes, Form 2290’s are always been filed and paid upfront for the upcoming period. Hence, one must be sure of the fact if the truck would exceed the desired mileage limit for an exemption to pay the tax dues full in advance whereas if the truck might underrun the said limit to claim a complete exemption from paying taxes to the IRS.
As we are looking forward to Thanks Giving it is wise enough to file your pro-rated form 2290 right was which could eliminate last-minute rush up and you can relax during the long weekend
E-Filing HVUT Form 2290 via www.truckdues.com hardly consumes few minutes of your busy on road schedule. You don’t have to spare a lot towards hiring a high-priced professional to assist you with your 2290, instead, you can e-file your HVUT right off your PC or smartphone and get the services rendered as low as $7.99. Receive the IRS digital watermarked copy of schedule 1 in the email minutes after you e-file. Reach our tax experts @ (347) 515-2290 for any further assistance.
Yeah!!! Halloween was upon us & Nobody prefers an interruption while having a good time during Halloween being in the gaudy-spooky outfit, carving pumpkins, going on a party crawl, passing out candy & Creepy Chocolate Chip Cookies to the kids & so on. It’s been a spooky year so far and Covid -19 haunting us hope it doesn’t haunt us for life and let’s pray for this pandemic to end.
Hope you spooked your friends and family but do not let your taxes spook you, Yeah it’s the last day of filing your taxes for trucks operated since September. There is no shame in being too old for trick-or-treating cause it ain’t gonna cost you money, but you don’t have to be late on your tax filing where it costs your hard-earned money.
