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IRS reminds truckers of Aug. 31 highway use tax return deadline, e-file encouraged

In the latest release from IRS highlighting to choose electronic filing to report and pay the Federal Vehicle Use Tax Form 2290. Tax2290.com guarantees easy, fast and safe filing; economic, affordable and transparent pricing; quality, experienced and live expert support to help you through with your 2290 efile. Tax2290.com is the most experienced and market leader since 2007.

The Internal Revenue Service reminded owners of most heavy highway vehicles of their responsibility to timely file Form 2290, Heavy Highway Vehicle Use Tax Return. The highway use tax applies to highway motor vehicles with a taxable gross weight of 55,000 pounds or more. This generally includes large trucks, truck tractors and buses. The tax is based on the weight of the vehicle. A variety of special rules apply. These special rules are explained in the instructions to Form 2290.

The deadline to file Form 2290 and pay the tax is Aug. 31, 2020, for vehicles used on the road during July.

Tax2290 eFile with 2020
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IRS offers online webinars on tax reform basics for businesses

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Members of the small business community can now view webinars on some tax reform provisions that affect businesses. The webinars include:

  • Tax Reform Basics for Employers
    This presentation includes information on the Employer Credit for Paid Family and Medical Leave, Employee Achievement Awards, Qualified Transportation Fringe Benefits and more.
  • Tax Reform Basics for Small Businesses and Pass-Through Entities 
    This presentation gives an overview of tax reform changes for small businesses and pass-through entities. It also includes changes to estimated taxes, deductions and depreciation.
  • Tax Reform Basics for the Qualified Business Income Deduction (199A)
    This presentation gives an overview of businesses eligible for the Qualified Business Income Deduction under Section 199A. It also shows calculations and basics for reporting.
  • Understanding Tax Reform Basics about Opportunity Zones
    This presentation defines Qualified Opportunity Zones and explains what’s required to become a Qualified Opportunity Zone.

Never take a chance with your 2290 electronic filing, report it on time to receive IRS watermarked Schedule-1 proof in just minutes. 

Report your 2290 HVUT returns as early as possible to cut down your charges

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The Federal Vehicle Use Tax Form 2290 for the tax period 2018-19 is due on August 31 for vehicles put to use on highway from July 2018. For most truckers August 31 is the deadline to report 2290 and renew their IRS Stamped Schedule1 proof. However if you have missed your filing deadline you can still report it online at TaxExcise.com and Tax2290.com. Prorate 2290 taxes for vehicles used after August 2018 and file it online (e-file) to receive your IRS watermarked Schedule-1 proof in minutes.

2290 Late Filing Charges

Late filing means you will end up paying more as late filing charges, penalty of 4.5% of the total amount of HVUT you owe for not on time, monthly fee of 0.5% for the period you missed to pay 2290 tax dues with additional interest charge of .54%. You now can make use of your credit card / debit card payment option to pay 2290 dues and pull yourself off from these extra charges… Continue reading →