So truckers, how is the Friday treating you? TaxExcise.com hopes you filed your prorated heavy vehicle used tax. However, we are here to talk about the Amendment form 2290 and when can we file the same. However, we would not be using the method each time we file, but it is better to have sufficient knowledge about Amendment form 2290.
The following are the reasons for filing form 2290 Amendment:
- Increase In Taxable Gross Weight
- Suspended vehicle Exceeded Mileage
- VIN Correction
Increase In Taxable Gross Weight:
HVUT or heavy vehicle used tax is paid based upon the taxable gross weight of a vehicle. However, if there is an increase in the weight during the taxation period, you are liable to file form 2290 amendment on or before the last day of the month after the month, you have experienced an increased in the weight.
For example, if the taxable gross weight increased in the month of October, you need to file Amendment form 2290 by the end of November of the same year to avoid penalties.
Suspended Vehicle Exceeded the Mileage:
Vehicles those are likely to travel less than 5,000 miles (7,500 for agricultural vehicle) on a public highway and if you have over crossed the standardized miles in the same year, you are liable to pay for the exceeded miles to IRS through form 2290.
VIN Correction:
VIN or vehicle Identification Number is a unique code including a serial number, usually used by the automotive industry to identify individual motor vehicle. It consist of 17 characters, which does not include the letters I (i), O (o), or Q (q) (to avoid confusion with numerals 1 and 0). However, there are possibilities to key in the wrong VIN while filing form 2290 and get the same imprinted in your schedule 1 copy. As it is not a valid schedule 1 copy, you need to file form 2290 Amendment and receive a revised schedule 1 copy in minutes.
On a conclusive note, we would like to remind taxpayers to efile their return with Tax2290.com. Online filing can indeed add sustainable changes in your life. From easiness to better time saving options, efiling stands as the only method that can serve you with utmost promptness. With features like the tax calculator or the error check app can add ease to your work and provide you with the expected results in minutes. As and when you type in the details, the tax would be calculated the dues you owe IRS almost in seconds.
Also, we have handpicked Tax Experts to support and help you in filing form 2290 online with ease.
Reach us @ 1-866-245-3918 or shoot an email to support@taxexcise.com. You have invested your trust in us; we will never let you down.