Today at our article space, we are going to discuss all about form 2290 and how to efile your tax return. Since the tax season for the year 2015-16 has already dropped in our calendar and we have very less time in hand to efile, we advice our taxpayers to come over and efile form 2290 online with ease and receive schedule 1 copy in minutes. |
Form 2290 is the application used to file and report heavy vehicle used tax for the vehicles running on the highway with an average weight of 55,000 pounds or more. This form is supposed to be filed once a year, during the tax season. And if you have taken your vehicle out for the first time on or after the tax season, you should file form 2290 by the end of the second month of first time used. Like, if you have taken your vehicle out in the month of July, you are liable to report and pay tax by the end of August 2015. If you have taken your vehicle right during the season, you can pay for the whole year in one return.
Heavy vehicles are classified as heavy based upon the weight they carry. If your vehicle weighs more than 55,000 pounds, you are liable to pay HVUT through form 2290.
Many of us are still not aware of the purpose of the form. We all know we have to pay tax, but the reasons are hidden beneath. Check them out here!
Purpose of Filing Form 2290:-
• Figure and pay the tax due on heavy vehicles used with the taxable gross weight of 55,000 pounds or more. • Claim a suspension for the low mileage limit i.e. less than 5,000 miles or 7,500 miles for agricultural vehicles • To file and pay the tax for Vehicle exceeding the mileage use limit between the tax periods. • Calculate and pay tax for the increase in Taxable Gross Weight of the vehicle • To file for a VIN correction Now that we know the reasons for filing, let’s check out the documents required to file your return:
While Filing Form 2290, Ensure You Have The Following Documents Handy:-
• EIN (Employee Identification Number) • VIN (Vehicle Identification Number) • Taxable Gross weight of the vehicle(s) • Purchase date and date of first use on the highway • If the vehicle is sold, details like date of selling, VIN and whom the vehicle was sold are required
Note: You will need soft copies of the documents mentioned above if you are efiling.
Now the most crucial question coming up, how do you wish to file your tax return? Do you want to stick to the stereotype method or you want to move with the technology? Choice is yours, but we would always advise you to stick and move along with the technology because you will always stay benefited. Online filing is the most efficient, affordable and reliable method to file and report form 2290 to the IRS, even at a short notice. Within clicks, your return would be transmitted to IRS and you would receive your schedule 1 copy in minutes. If you are not sure which method to opt, read the following benefits, which are applied when you efile your return through an authorized online filing service provider like Taxexcise.com.
• User friendly and simple tax filing process • Text Alert/ Fax Copy • Receive your schedule 1 in minutes • Accurate Tax calculations • Bulk Upload information about your vehicle • Pocket free e-filing service fee • Customer support extended during the weekends • Full Service Option for truckers who are busy behind the wheels
We have given our best shot with the benefits. However, is there anything else you are looking forward for assistance, do not hesitate to get in touch with our experts. Assurance is given; you will not regret joining hands with TaxExcise.com.
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