So truckers, how are you doing? With the weekend around the corner, hope you have set your plans. However, before we proceed, answer this, have you filed form 2290 yet for the year 2014-15? And if you have not, its time to gear up all the way as you have only 12 days in hand to get your return filed and pay your dues. It all depends on the method of filing you choose. If you opt for paper filing, the process is time consuming and you never know, you may land up paying penalties.
However, if you opt for efiling, you know the advantages you would avail. All you need to do is, register with Tax2290.com, a prime product of ThinkTrade Inc. So let’s brush up on the form before you proceed filing form 2290.
Form 2290 serves as an application for truckers and owner operators to file and pay their Heavy Vehicle Used Tax. This form is not for every heavy vehicle running on the public highway. Heavy vehicle used tax is for the rigs that weigh more than 55,000 pounds are liable to file and pay dues to IRS. Otherwise, you don’t have to pay anything to IRS. However, form 2290 also supports other vehicle type and they are known as suspended vehicles.
If your vehicle is driven on the highway for less than 5,000 miles and 7,500 miles for agricultural vehicle, you don’t have to pay any dues, however, you need to file form 2290 and notify IRS about the same. These vehicles do not fall under the category of taxable vehicles. The reason they are known as suspended vehicles is, they are suspended from paying taxes.
However, do note, during the year if there is the mileage exceeds from the standard, you are liable to file form 2290 amendment and pay your dues to IRS on or before the due date i.e. by the end of the proceeding month of the month when the mileage limit was exceeded.
So what is the wait for? Come over, file form 2290 online, and get your schedule 1 copy in minutes. However, you cannot relish the speediness with paper filing. So make a wise choice and ensure you file your return on time or reach for assistance. You know we are available on the weekends too. Reach our Tax Experts through phone, e-mail or chat. Call us at 866-245-3918 or write to firstname.lastname@example.org.