How to Efile Form 2290

April 9, 2011 by  Filed under: Taxes 

It’s possible to paper file your Form 2290 with the IRS, visit IRS.gov for more information on paper filing. The IRS encourages all filers to file electronically, and it is required of those reporting 25 or more vehicles through software providers.

The tax year for Form 2290 starts from July of any year and ends the June of next year. If the gross taxable weight is from 55,000 to 75,000 pounds, the HVUT (Heavy Vehicle Use Tax) is $100, plus $22 per 1,000 pounds over 55,000 pounds. For over 75,000-pound vehicles, the maximum HVUT (Heavy Vehicle Use Tax) is $550 per year. The taxes are lower 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 for failing to file IRS Form 2290 in a timely manner is equal to 4.5 percent of the total tax due, assessed on a monthly basis up to five months. Late filers not making an HVUT payment also face an additional monthly penalty equal to 0.5 percent of total tax due. Additional interest charges of 0.54 percent per month accrue as well. Once you have submitted your Form 2290, the IRS will stamp your Schedule 1 as proof of payment.

When E-Filing, the IRS will apply a digital watermark to your Form 2290 Schedule 1. This digitally “stamped” Schedule 1 serves as your HVUT proof of payment. When E-Filing your Form 2290 or Form 8849, you “sign” your return using a personal identification number (PIN) that you create during the filing process.

When you E-File your 2290, the IRS will apply a digital watermark with the E-File logo to your Schedule 1. This electronic Schedule 1 is your 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 you purchase and first use a vehicle in January, you must file a 2290 by the end of February.

Annual renewal of your Form 2290 for a new tax period must be completed by August 31. 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 for failing to file IRS Form 2290 in a timely manner is equal to 4.5 percent of the total tax due, assessed on a monthly basis up to five months. Late filers not making an HVUT payment also face an additional monthly penalty equal to 0.5 percent of total tax due. Additional interest charges of 0.54 percent per month accrue as well.

Efile your IRS Form 2290 and Form 8849 with IRS authorized efile provider ExpressTruckTax.com

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