This article is a reminder for truckers who have taken their truck out of the highway for the first time. EFile HVUT online before the due date.
Tax2290.com, a prime product of ThinkTrade Inc. is here to remind truckers to file form 2290 if they used their vehicle on road for the first time since July 2013 should file should file before May 31st 2014. It is mandatory for every HVUT filer to make their payment by the end of this month to avoid penalties.
Heavy vehicle used tax is onetime payment tax for the whole year if the vehicle gross weight is weighting more than 55,000 pounds and the average miles exceeding more than 5,000 (7,500 miles for agricultural vehicles). Usually, the tax period falls in July 1st 2013- June 30th 2014 and the tax season to file form 2290 is starts on July 1st to August 31st. Every trucker who own a vehicle and is likely to cross the standardized weight and miles, they are liable to pay their dues to IRS by the due date.
As there is no extension of time available for filing form 2290, every trucker, owner operator or fleet management companies should file during the season and report their heavy vehicles and this reporting would be acknowledged with Scheudle1 copy, watermarked by IRS.
Among heavy taxable vehicles, there is one another category to file.
They are known as the suspended vehicles. These vehicles do not cross the 5,000 miles (7,500 miles for agricultural vehicle). These vehicles don't have to pay any taxes but they need to keep IRS informed about their suspension. If the vehicle is crossing than standardized miles in the period, they are liable to file Form 2290 Amendment and pay the dues based on the weight increased by the next month end when the weight increased.
This is also applicable for logging and forestry vehicle as well. As they are included in taxable vehicles itself, however, the tax rate they are liable to pay is comparatively low. This is also calculated based of the weight of the rig.
Why Should You Efile Form 2290?
Efiling is a well-known method to efile form 2290. This magnificent method does not let you put on your thinking caps as everything is sailing on smooth roads. From preparing the form to calculating, error check to payment is done online. Even if truckers come over to Tax2290.com few hours before the due date would end, they can file, pay and receive his schedule1 copy in minutes. Standing as the strongest advantage for efiling, more and more customers are coming in and paying their return form 2290 online. Electronically filing ensures you are on sailing right with the calculations and errors in check.
If you belong to the category of first time filers and looking forward to file your prorated taxes, its time buckle up and file with Tax2290.com. The tax industry is vast and versed with competitors. Tax2290.com has made its dynamic presence among the taxpayers. With user-centric application and availability on Smartphone and Tablets, truckers who are busy behind the wheels can file their return on the go.
Also, if at all filers need extra assistance, reach our Tax Experts through 1-866-245-3918 or write to us @ email@example.com. Consider us and we will highlight our strength.