Expected delay for filing IRS Form 2290(2011-12)

The annual filing season of IRS Form 2290 for 2011-12 may be delayed. IRS will not accept any paper format or e-filing at this time. An announcement on when it will be in place is expected to be made by IRS.

A meeting was conducted by IRS regarding the extension of time for tax filings for Form 2290. Right now, the tax legislation is tied up in Congress. A new legislation need to be passed before IRS can collect the 2011-12 Form 2290 tax for the entire year.

Normal tax filing is not going to happen because of issues within the congress. IRS may wait as long as possible so that a single tax returnis all that will be necessary for the 2011-12 tax Year. However a backup plan is in place so that a 3 month tax (July, August and September) can be collected by August 31st filing deadline. When the new legislation is passed, it will determine what happens for the reminder of the 2011/12 tax year.

Please register at www.ExpressTruckTax.com to get the latest updates on Form 2290.

HVUT(IRS Tax Form 2290) Payment to the IRS

When it comes to E-Filing your IRS Form 2290 through an authorized E-File provider such as ExpressTruckTax.com, there are several different payment options.  Taxpayers can pay by Electronic Funds Withdrawal, EFTPS, Check, or Money Order.  The options to pay by check or money order may be easier to understand, but the options for Electronic Funds Withdrawal and EFTPS may need an additional explanation.

If you elect to pay by Electronic Funds Withdrawal, you can use either a checking or savings account.  You will need to enter the US Bank Account Number and Routing Number in order for the IRS to Process the payment.  This information is typically listed on a check.

EFTPS is short for Electronic Federal Tax Tayment System.  It is a government program that allows you to schedule Federal Tax Payments electronically.  If you select to pay by this option, you are acknowledging that it is your responsibility to send the tax payment to the IRS through the EFTPS.gov website.

Filing Delays for IRS Form 2290

An annual tax on the use of heavy highway vehicles is imposed in Section 4481 of the Internal Revenue Code. The IRS uses Form 2290 to to report this tax. The Internal Revenue Service has stated that the law governing taxes imposed on the use of heavy highway vehicles (Form 2290) will expire on September 30, 2011. The IRS Form 2290 for the new tax year beginning July 1, 2011 is not available at this time (June 22, 2010) and has not yet been published by the IRS for the the new tax period. Due to the current situation, you can most likely expect a delay in the filing period for heavy vehicle use tax form 2290. It is also very likely that we may also expect to see changes in the new Form 2290 when it is published.  This is based on the fact that the Heavy Vehicle Use Tax Schedule 1 for previous tax periods have typically changed slightly from year to year.

Although the 2290 form is not yet ready, you can still get your vehicle tags for the tax period beginning July 1, 2011. Existing regulations allow states to register heavy highway vehicles when the registration application is received during the months of July, August, or September. A Schedule 1 for the previous year (July 2010 - June 2011) then state offices can accept it as a proof of payment.

You can also get your newly acquired heavy highway vehicles registered by the state without having a proof of tax payment. If you present an original or a photocopy of the bill of sale showing that the vehicle was acquired during the 60 days preceding the date that the state receives the application for registration.

Taxpayers should be aware that the IRS strictly discourages sending any old/previous form or payment to the IRS in order to file HVUT for new tax period (2011-2012). If the older form is sent to the IRS, the payment will be applied towards the tax account and a Schedule 1 will not be issued. However, they will send a notice to send a new form when it becomes available.

We will keep you updated on the latest changes as we get them from the IRS.  In the meantime, if you have already filed a 2290 return for the tax year 2010-2011, then you should contact the IRS at 866-699-4096 to get a copy of your Schedule 1. If you have filed through one of the IRS authorized E-File providers such as ExpressTruckTax.com then you need to get in touch with them to get a copy of your Schedule 1.

IRS Major E-file Milestone

 This tax year has been a groundbreaking one for the IRS E-Filing system.  As you can see in this letter from the IRS Newswire, the Internal Revenue Service has now processed over One Billion tax returns through electronic filings.  The Electronic Filing system that began as a pilot project in 1986 has recently been heavily pushed by the IRS in recent years.  

This year in particular has been the most explosive.  Prior to the April 18th deadline of this tax year, the IRS had processed just over 100 million tax returns electronically.  This is an enormous growth rate for only one year!

When asked about the IRS E-File system, IRS Commissioner Doug Shulman said the following: “The one billion milestone means e-file has delivered real services to taxpayers, including faster refunds and more accurate tax returns. And because an e-file return costs us 20 times less to process than a paper return, this program means a more efficient government that has saved America’s taxpayers hundreds of millions of dollars.”

There are a variety of ways a person can E-File based on the type of return they are filing.  This year the IRS made it mandatory to E-File if a tax preparer is filing 100 or more tax returns.  Next year E-Filing will be mandatory for all tax preparers who file 11 or more returns.  The IRS set a goal of an eventual 80% of filers using E-File; this year the percentage was 79%.  

As mentioned earlier, there are different ways of filing different returns.  IRS Form 2290, for example, must be E-Filed by an IRS Authorized E-File provider.  The IRS does not provide an electronic option to file this through their website, but they do publish a list of authorized services.  Anyone who needs to file an IRS Form 2290 must use a recommended third party provider, such as Express Truck Tax, which also offers E-Filing for Form 8849, Free VIN Corrections, and online IFTA organizaton.  

E-file or Paper file??

E-file or Paper file?? Now that's a great question? But have you ever thought why people are being encouraged to e-file rather than paper file? Well, for the fact, paper file leads to environment degeneration. In 2010, 46million people paper filed their tax returns which lead to 1, 53,000 felling of trees. Now, we wouldn't want that. Also paper filing means long awaiting queues, tiresome days, energy rundown and 7 + days to get accepted schedule 1. That's why efiling is here to rescue owner operators and tax professionals from the hassle of paper filing and offering them a quick, simple and secure way to e-file their Heavy vehicle use tax (HVUT) IRS form 2290

Express2290.com is a certified and authorized partner of IRS and works in collaboration with them to provide a simple and protected platform to e-file heavy vehicle use tax (HVUT) form 2290 for both fleet owners and tax professionals. There is no need to stand in long queue to file form 2290 or wait for days to get your stamped schedule 1. With our services, you are not only done e-filling form 2290 in less than few minutes but also get your stamped schedule 1 in minutes.