Filing and Paying Tax | Form2290
Heavy vehicles pay an annual federal excise tax for use of
the public highways. Form 2290 must be filed at the beginning of the tax year
and payments of this tax must also be made at the beginning of the Heavy
Highway Vehicle Use Tax year.
Definition of a Heavy
Vehicle
Heavy vehicles that use public highways must also pay a
yearly federal tax. The IRS defines heavy vehicles as trucks, trailers and
buses with a gross vehicle weight of 55,000 pounds or more. Gross Vehicle
Weight includes the total weight of a loaded truck in addition to any trailer
it might be pulling.
When to File Form
2290
IRS Form 2290 is used to pay the Heavy Highway Use Tax. The
form is filed yearly and must be filed for each truck owned. The tax year for
the Heavy Highway Vehicle Use Tax begins July 1 and runs through June 30 of the
following year. The tax must be paid at the beginning of the tax year and the
Form 2290 return must be filed by Aug. 31.
Taxes on Mid-year
Heavy Vehicle Purchases
The purchase of a new truck makes the buyer liable for
paying federal excise tax. Form 2290 makes provisions for heavy vehicles
purchases in the midst of the tax year. The filer pays the pro-rated tax amount
from the first month of use until the end of June. Form 2290 would be due by
the end of the month following the month the heavy vehicle first used in
service.
How to File Form 2290
There are two techniques for IRS 2290
filing. Proprietors and operators can do it by way of traditional paper process
or perhaps by electronic filing (e-filing).
The traditional paper process is frequently more tedious and may even take a while. You are able to do it at the IRS office or may file it in mail which could take couple of weeks to get your Sch.1 received in the mail.
To get easier and faster processing, the Internal Revenue Service (IRS) provides the files on their website. When you don't have enough time to perform your IRS 2290 filing or maybe you may find the process complicated, Tax2290.com provides help e-filing IRS Form 2290 in very easy steps, regardless of whether you have a single unit or a number of heavy vehicles.
The traditional paper process is frequently more tedious and may even take a while. You are able to do it at the IRS office or may file it in mail which could take couple of weeks to get your Sch.1 received in the mail.
To get easier and faster processing, the Internal Revenue Service (IRS) provides the files on their website. When you don't have enough time to perform your IRS 2290 filing or maybe you may find the process complicated, Tax2290.com provides help e-filing IRS Form 2290 in very easy steps, regardless of whether you have a single unit or a number of heavy vehicles.
Paying the Heavy
Highway Use Tax
The Heavy Highway Use Tax must be paid on time to avoid penalties
and interest. The Internal Revenue
Service has several payment options: via
- Electronic Funds Withdrawal from a bank account (Direct Debit)
- Check or Money Order.
- Electronic Federal Tax Payment System (EFTPS).
It gives you comfort when e-filing and
let you download your Sch.1 copy even before IRS receives your Payment.
E-file your Taxes through www.Tax2290.com and Drive Happy.
Have questions? Get an answer from a real Tax Adviser @ 1-866-245-3918 or drop in support@taxexcise.com
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