Are you filing form 2290 lately? We have been writing on “Third Party Designee” almost each week and today, we are writing for a purpose. We want our audience to know and understand the importance so that when you are filing form 2290 for your newly used heavy highway vehicle, you can assign for a third party designee if required. We know you are busy behind the wheels and most of the time, not reachable. That is the time; Third Party Designee comes in for your rescue. Starting from the basics, form 2290 is an application for filing heavy vehicle used tax, weighing more than 55,000 pounds or more. If you are not using the highway during the year, you still have to file form 2290 and report your vehicle. Also, if you have used your vehicle not more than 5,000 miles a year, your vehicle would be categorized as suspended vehicles, which means, you don’t have to pay tax to IRS. All you need to do is, keep IRS informed about your suspension on or by the due date. |
While filing form 2290, you would get an option to assign a third party designee for your return. We are going to discuss the advantage of assigning one. Keep reading to know more.
Purpose of Third Party Designee:
Third party designee is one the person who can handle your financial return and discuss with IRS about your form 2290 in your absence. You can assign an employee or a business head, a tax return preparer or any other third party as your designee for your form 2290. While filing form, check on “Yes” to authorize IRS to speak with the designee to answer the questions shot by IRS related to the information noted in form 2290. Also, you are authorizing the designee for:
• Exchange of information concerning form 2290 with IRS, • Request and receive written tax return information related to form 2290, including copies of notices, correspondence, and account transcripts
If you are assigning a designee for your return, you need to mention the designee’s name, phone number and the five digits that person choose as his/her personal identification number (PIN). The authorization applies only to the tax return on which it appears. However, the taxpayer is not authorizing the designee to bind the taxpayer to anything, that includes additional tax liability or otherwise represent the taxpayer before the IRS.
The authorization would expire in a year’s time from the due date. If you don’t wish to continue with the same designee, you can revoke the authorization by writing to IRS. Check IRS official website for more information.
If you are wondering you should efile your return, you should try a hand with Tax2290.com. We hold the excellent service tag, with handpicked Tax Experts for your assistance. You would receive your schedule 1 copy in minutes.
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