The Heavy Vehicle Use Tax, or IRS Form 2290, must be filed with the IRS for any highway motor vehicle that exceeds a gross weight of 55,000 pounds. IRS Form 2290 Schedule 1 is used to report all vehicles for which you are reporting tax (including an increase in taxable gross weight) and those that you are reporting suspension of the tax by category and vehicle identification number (VIN).

The IRS has made it mandatory for all Trucking Companies or other industries that have to file a Form 2290 for 25 or more heavy vehicles to E-File the return as opposed to paper filing it. This IRS Form contains a Schedule 1 which must be stamped by the IRS before the vehicle can be registered with the state Department of Motor Vehicles. This form can be mailed to the IRS. It will take up to several weeks to process. It could also be taken directly to the IRS office, which can take several hours of your day. This must be accompanied by a proof of EFTPS payment.

There are e-file providers for form2290 who allows truckers to fill out IRS Form 2290 online and send it to the IRS electronically! This is the most appropriate way a trucker can get a stamped schedule 1 without waiting in long lines in front of IRS offices. The taxpayer will then receive the schedule 1 via email or fax as soon as the IRS processes the form. The form will then be watermarked by the IRS instead of an actual physical stamp.

In the case of a highway motor vehicle for which a State receives an application for registration during the period of July 1, 2012, through November 30, 2012, a State shall accept as a substitute for proof of payment, 2290 schedule 1 for the taxable period of July 1, 2011, through June 30, 2012. Form 2290 should be filed by end of august each year for full tax period which is July to June each year to avoid possible penalties from IRS. If the vehicle first used month does not fall in July, truckers can file form 2290 as a partial tax period.

Truckers should have a good understanding of how the tax amount calculation in form 2290 is carried out. For full tax period the normal tax amount is $ 550 which is calculated based on the weight of the vehicle and the first used month reported. For partial tax period the tax amount figure varies according to each first used month and weight of the vehicle. IRS provides charts for truckers to understand this calculation. However if the filer is choosing for electronic filing, the calculation is carried out automatically since most of the e-file providers have integrated this calculation in their programs.

The tax due date will be end of each month the vehicle is first used in that case. For year 2012 tax period due a delay in truck tax approval by government, IRS provided a 3 month extension to all tax filers. This year extension is not available and IRS has not released the form 2290 yet.

The job of a Heavy Vehicle Owner Operator can be one of the most vital for our nation\’s economy. An owner operator\’s job is not only physically strenuous due to the long hours on the road; it can also be mentally draining, confusing, and stressful due to the various regulations that are imposed on owner operators each year for their heavy vehicles. These highway regulations include Heavy Vehicle Use Tax (HVUT) which includes the IRS Form 2290. Another tax that affects the trucking industry is the International Fuel Tax Agreement (IFTA).

Tyler is an associate of Etax2290 which is a leader in e-file industry, with approval from IRS and various other trusted organizations for filing tax form 2290 online with ease and hassle free. File form 2290 now and avoid possible penalties.

Tyler is an associate of Etax2290 which is a leader in e-file industry, with approval from IRS and various other trusted organizations for filing tax form 2290 online with ease and hassle free. Visit https://www.etax2290.com to file form 2290 now and avoid possible penalties.

Author Bio: Tyler is an associate of Etax2290 which is a leader in e-file industry, with approval from IRS and various other trusted organizations for filing tax form 2290 online with ease and hassle free. File form 2290 now and avoid possible penalties.

Category: Finances
Keywords: 2290, form 2290, truck tax , Efile Truck Tax, irs 2290, truck tax efile, hvut, heavy vehicle use tax