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So filers, welcome to our article space. Today, we are going to talk about the payment methods used to file and report for 2290. Before we start with the topic, we would like to look at the basics. Form 2290: Form 22290 is an application through, which you can file tax for your Heavy Vehicle. Form 2290 is also known as heavy vehicle used tax. The tax is calculated based on the standardized weight of the truck i.e. 55,000 pounds or more. Moreover, if you own more than 25 vehicles, IRS have made it mandatory to efile your return through an authorized efiling service provider and receive your schedule 1 copy in minutes. However, to proceed with your return, you need to make the payment through any of the following methods: The very first method making payment online is: Direct Debit/ Electronic Funds Withdrawal: When you efile your return online, this is one of the method you can choose to make payment to the IRS. While you are filing, you need to mention your bank details and ensure, you have sufficient balance in your bank to pay your dues. You can revoke the payment if there are unforeseen situations arise. Get in touch with the U.S. Treasury Financial Agent at 1-888-353-4537 no later than 2 business days before the settlement date. Electronic Federal Tax Payment System: (EFTPS): After direct debit, this method stands as the next method if you choose to efile. It is an IRS initiative and thus, it is proved as the safest option to pay your dues online. The security is unquestionable, and proves to be a relief for people who seem to be skeptical and precautious about online filing. As a taxpayer, you are responsible to schedule the payment on your own for a timely payment. To create or manage, you can visit eftps.gov or call 1-800-555-4477. To initiate a payment through this account, the transaction should be initiated at least one business day before the due date. Check Or Money Order: If you prefer making payment offline, this is the method you have as an option to pay your dues to the IRS. You need to pay your dues through payment voucher 2290-V and mail it to IRS. However, form 2290 would be transmitted to IRS through the servers. Note: Taxpayers are not allowed to pay their taxes through cash. The check or money order should be payable to United States Treasury. Add details like name, address, EIN, “Form 2290,” and the date (as entered in Box 3) on your payment. Detach the payment voucher 2290-V and send across the payment. If you choose to file it electronically (e filing), form 2290 and schedule-1 copy with the payment voucher is not required. Stapling the payment to the voucher or form 2290 should be avoided. Send the payment and voucher 2290-V to: Internal Revenue Service P.O. Box 804525 Cincinnati, OH 45280-4525 The above methods are applicable for paying your dues to the IRS. And they seem to be the simplest one too. So what is your call? Are you filing your form 2290 online, paper filing, or online filing with offline payment? You choose the methodologies, however, ensure you make timely payment to avoid penalties. Also, if you have taken your vehicle out in the month of March, 30th of April stands as the last date to file and report your prorated tax for first time used vehicles. If you have queries and questions to be asked and shared, please do feel, open to shoot them to our tax experts. We are here to serve you better, everyday.
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