IRS Form 2290 is used to pay the Heavy Highway Vehicle Use Tax. Filers can do it online through an IRS authorized e-filer. Online e-filing is a must when filing for more than 25 vehicles. Even if filers don\’t have a lot of vehicles, the IRS still recommends that to file online. Filers have to use a secure and authorized online e-filer.

Filers need some of the information when E-filling:

* Name and company information

* Vehicle Identification Numbers

* Number of vehicles

* Gross weight of the vehicles

Actually, filers need more information than that, but the form is simple to fill out, especially if filers using helpful e-file software that will get them through the process step by step. Filers can even use an e-file provider to send their payments in.

The tax year for Form 2290 starts from July of any year and ends the June end of next year.

The taxes are low for logging vehicles – vehicles primarily used for exclusively for transporting products harvested from the forest and is registered with the state agency as such.

A Form 2290 can be filed at any time after the deadline has passed but the tax due may be subject to penalties and interest. The penalty not filing file IRS Form 2290 in a timely manner is calculated to 4.5 percent of the total tax due, adjusted on a monthly basis up to five months. Filers who are not making an HVUT payment on time also face an additional monthly penalty equal to 0.5 percent of total tax due. There will be additional interest charges of 0.54 percent per month.

The main payment options for filing form 2290 online are stated below. Check payment option is not available online.

– Direct Debit

– EFTPS

Direct Debit: Online filers should submit bank account details to IRS and IRS will withdraw tax amount directly from bank account.

EFTPS: Filers can use the EFTPS payment system which is an electronic filing tax payment system setup to help tax filers make payments online. Filers have to create separate account to use this system.

The most common mistake a tax filer will do during transferring the tax payment information is that their bank routing number or bank account number will be wrong. IRS allows its filers to correct this issue by resubmitting the corrected form if it is wrong bank routing number. IRS accepts the return when filing online and issues a stamped schedule 1 receipt even though the bank account number is wrong. Later IRS notifies the tax filer that they have filled in a wrong bank account number and IRS was unable to retrieve the tax amount from their account via a mail notice.

When filers E-File their IRS Form 2290, the IRS will apply a digital watermark with the E-File logo to the Schedule 1.This electronic stamped schedule 1 receipt is the official proof of payment from the IRS.

Form 2290 must be filed by the last day of the month following the month of first use. For example, if a filer bought and first used a vehicle in July, they must file a 2290 by the end of August. As the tax season is fast approaching tax filers are anxious about the forms availability since last year the form was not available due to a delay in passing truck tax bill in the senate. IRS has already announced that such delays will not occur this year and they are ready to accept the tax starting from July 1st.

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 IRS 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 https://www.etax2290.com IRS Form 2290 online with ease and hassle free. File https://www.etax2290.com 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 IRS Form 2290 online with ease and hassle free. File form 2290 now and avoid possible penalties.

Category: Finances
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