What Is the Intention of IRS Form 2290 (HVUT) – What Does the IRS Really Get From This Form?

June 29, 2012 by  Filed under: Taxes 

The purpose of the Form 2290 is to send out information about the usage of a truck and to pay taxes on that use to the IRS. Truckers can use this form for a single truck filing, or for paying the due taxes on an entire fleet of trucks for one or multiple companies. The primary objective when filing the form aside from paying the IRS the taxes required is that without the ever so necessary proof of payment the Department of Motor Vehicles will absolutely restrict the registration of your vehicle, which of course is a rather large problem for most truck owners and operators.

The tax year regarding Form 2290 and the HVUT is not the same as the calendar year. The usual tax year is from July 1 to June 30. Form 2290 and the HVUT is usually do by August 31 of the ensuing year. The IRS mandates that 2290 forms with 25 or more vehicles to be e-filed. This helps to save time and expedite the process. This also allows for easier management of files for both the IRS and the truck owners.

As this form is broken down into two important parts, those who file electronically have many advantages including that most e-file providers hold a database of the filers vehicle info meaning filers only need to enter information a single time and then recall the information upon the date of the next filing period. The Form 2290 consists of the Form and the Schedule 1 that needs to be stamped by the IRS in order to register a vehicle with the state DMV. Filing online service will save you valuable time by only entering information within few minutes.

As soon E-Filing this form, instead of actually stamping the Schedule 1, the IRS will approve and email a Schedule 1 with an official IRS watermark to the e-file provider you choose which will then be sent to you the filer verifying that it was processed. State DMVs are needed to accept this as proof of the tax payment and although it’s not a physical stamp it is still considered a stamped schedule 1.

Fortunately, carriers no longer have to stress and worry about deciding how to file for the HVUT because e-file providers have been listed on the IRS website and are all IRS approved and capable to electronically file Form 2290 for an extremely affordable price. E-filing is the method most trusted by many of the largest carriers and service providers in North America.

Seun 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.

Article Source:

Speak Your Mind

Tell us what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!

You must be logged in to post a comment.

Prev Post:
Next Post: