Tag Archives: Form 2290

How to Get a Free EIN (Employer Identification Number)

Ask the Tax Expert: Do I Need an EIN? | MileIQ

Hello there dear truckers, last week’s blog was emphasized the different types of rejections. The most important of them all was the EIN rejection or name control rejection the combination of the EIN and the name of the taxpayer is revised into a unique identifier for each taxpayer. And, you stand responsible to provide the correct EIN while filing or your return would be rejected if the same doesn’t match.

If you don’t remember your EIN while filing your return or you have accidentally misplaced it, reach IRS at 1-866-699-4096 and they would look into it for you.

While majority of truckers have a registered EIN or tax ID many still seem to file using their social security number. Well is it not something that can be used ?  We wouldn’t say no but an SSN can be used only while paper filing at the IRS office directly or manually by mailing the documents to the IRS office. Since the IRS offices are closed due to covid-19 paper filing is out of the option and hence one would not be able to use it in filing a 2290 return electronically. So what do you do in this case?

Today, we are going to tell you how to apply for an EIN.

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Is your form 2290 being rejected? Know how to avoid rejections.

Hello there dear truckers, Hope you’re all fine. It’s time to brush up some basics and this is something that’s really important that needs to be taken into consideration before filing a Form 2290, we have been facing questions relating to rejection that occurs during filing your form 2290. Well, there are three different factors that play a major role in getting your form rejected. These rejections are mostly dues to small errors and can be rectified right away. Let’s see the factors in detail for a better and accurate filing of your taxes.

  1. RTN rejection (Routing Transit number entered wrong).
  2. EIN rejection (Due to New EIN OR Due to Mismatch in the name and address registered to the EIN)
  3. VIN duplication.
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When do you use the low mileage credit?

Truckers, in this post, we’ll go through how to get a refund on your vehicle if you discover that you haven’t driven it over the desired mileage cap for exemption. The mileage cap for exemption, according to the Internal Revenue Service, stands at 5000 miles for commercial vehicles and 7500 miles for farming and logging vehicles.

The Heavy Highway Vehicle Used Tax Return HVUT Form 2290 is an annual tax charged to the Internal Revenue Service on vehicles with gross weights of over 55000 lbs and that is used for the same purpose every year. Form 2290 is due in June and is payable through the end of August.

Since Form 2290 must be filed upfront for the next 12 months, one must be certain of the miles the truck will be used. If the truck will be used within the exemption mileage, you will not have to pay any taxes to the IRS. We must only pay the IRS the tax due sum if we surpass the desired mileage cap of exemption. But what if you declare your truck as a taxable vehicle by mistake and pay the tax due, only to discover later that you have not driven up to the mileage limit? This is when you use the IRS’s low-mileage credit option, in which you use the IRS’s e-file Form 8849 schedule-6 to request a mileage refund and register the vehicle under low-mileage credits. This, though, can only be done after the existing tax year has finished and the new tax year has started.

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Safe filing is E-filing!

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 ?

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IRS Year End Scheduled Downtime for Maintenance this December 2020

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. 
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Year-end IRS shut down begins on Dec 26th, E-file now!

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.

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Stay stress free and enjoy your holidays! We’re here for your HVUT taxes

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.

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Did you know a soda a day can increase your risk of diabetes up to 25%!?

Could you be one of the 38 million American adults with diabetes or 88 million Americans that are pre-diabetic and not know it? This month is American Diabetes Month, and we want to shine a spotlight on what has become one of the fastest growing health epidemics in the United States.  It is also one of the three top diagnosis St. Christopher Fund sees from truck drivers that apply for assistance. Statistics show that the number of people diagnosed with diabetes has grown 700% in the last 50 years! Coincidentally, the cost of insulin has risen 1,700% since 1970.

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Don’t let the taxes haunt your dreams, E-file now!

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.

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Reporting 2290 taxes on a purchased vehicle then you must read this first

Generally, you must file Form 2290, Heavy Highway Vehicle Use Tax Return, and pay the appropriate tax if you are registering in your name a heavy highway motor vehicle with a gross weight of 55,000 pounds or more. This 2290 Federal Vehicle Use Tax is already due for the Tax Year July 2020 through June 2021. August 31 was the due date for vehicles this is put to use from July 2020. Taxpayers generally must present the IRS Watermarked Schedule 1 receipt when registering a heavy highway motor vehicle with a state. Truck tax form 2290 is now due for heavy vehicles that is used from August 2020 for the first time in this tax period July 2020 – June 2021. September 30 is the deadline and 2290 has to be reported and paid for the vehicle. 

TD-September-Due-Date
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