President Barack Obama Pushes for the Renewal of Transportation Bills

On Wednesday, August 31, 2011 at the Rose Garden, President Barack Obama spoke about the pending Transportation Bill currently in Congress to a large gathering of highway workers. He was joined by Transportation Secretary, Ray LaHood, as well as Richard Trumka, president of the AFL-CIO, and also David Chavern, the chief operating officer of the Chamber of Commerce.

Among other things, the main focus of President Obama’s speech revolved around the necessity of renewing the Transportation Bill that is currently set to expire September 30. The primary arguments for extending the bill were that not extending it would cost up to a million jobs of hard working highway workers and extending the bill would also bring much needed tax revenue to fund road repairs and maintenance.

“Now is the time for Congress to extend the transportation bill, and keep our workers on the job. Now is the time to put our country before party and give certainty to the people who are trying to get by. There’s work to done. There are workers ready to do it. That’s why I expect Congress to act immediately.” said the President.

Video Link: http://www.c-spanvideo.org/program/ExtensionofTr

File IRS Form 2290 through an IRS-Authorized Service Provider

If you are a trucker, owner operator, or trucking company, you are subject to filing a tax return for the Heavy Vehicle Use Tax. These taxes have typically been filed with the IRS Form 2290. Until recently, this form could only be filed by paper. However, there have been great advances in technology over the past few years and the IRS now accepts and encourages taxpayers to E-File their 2290 Form.  

The IRS has approved several third party service providers to E-File the Form 2290 on behalf of those taxpayers who need to file. This list is posted on the IRS website. The IRS itself does not provide a way to E-File this form through their website. In deciding how to file, there are a few things that should be considered. When you select a provider, it is important to be sure that they are an Authorized IRS E-File Provider, make sure that they can handle all of your truck tax needs, and it is safest to find a provider that is entirely web-based.

• When selecting an Authorized E-File Provider, you should look on their website for something to verify that they are actually authorized by the IRS to E-File tax forms. Again, you can also refer to the IRS Website for a complete list of Authorized E-File Providers.  Be sure that the provider you choose is on that list!
• If you need to file several types of Truck Taxes and not only the Form 2290, like IFTA or Form 8849 then it would be helpful to have them all filed from the same place. Some service providers are only for Form 2290, or Form 8849, etc. The most convenient and economical way of filing would be to have them all filed with the same service.
• If an E-Filing system is not web-based, then there is less reason to use it. If a so-called E-Filing system is not web-based, meaning you need to download a program onto your computer in order to run the program, then it is not a true E-Filing system. The IRS recommends E-Filing because of its speed and security. If you are required to download lots of files and store information on your computer, your system is not completely web based. The benefits of a web-based system are obviously the speed of transfer to the IRS when you are finished, but also the security of storing your information online instead of on your computer. If you rely on your computer to store your information, you run the risk of losing all of your information if your computer crashed or if you spill something on it, etc.

ExpressTruckTax.com fits all of these qualifications for a Truck Tax E-File Provider. It is entirely web-based, they are a one-stop-shop for all truck tax needs, and they are authorized by the IRS as an E-File provider on the official list from their website. If you need any help, you can also contact their wonderful customer support team!  They offer live chat & phone support Monday through Friday (9:00am - 6:00pm EST) at 704.234.6005, as well as email support 24/7 (support@expresstrucktax.com). This way you can get a stamped schedule 1 in about 10 minutes. The file is electronically submitted to the IRS, and within minutes the file will be processed by the IRS and the filer will receive a notification from Express Truck Tax that their return has been processed.

U.S Federal Truck Tax Regulations for 2011 (Heavy Vehicle Use Tax form 2290)

You don’t have to be a transportation expert to understand that Washington DC is known for its gridlock. The very worst of it is actually off the roads and on Capital Hill. While both parties in Congress continue to argue, there is a significant piece of legislation that has yet to be voted on. The delay of this legislation being enacted has thrown many people in the trucking & transportation industry for a loop.  

The law previously referred to is a transportation law known as SAFETEA-LU – the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users – which expired in 2009, but it allowed the taxes associated with the Highway Trust Fund to be collected for an additional two years. When SAFETEA-LU became law in 2005, lawmakers added what they believed to be enough time to get the next multi-year transportation authorization bill in place.

Those two years have passed faster than expected and we are left without a new Highway Bill to replace it. The House and Senate committees are now drafting preliminary versions of the legislation and will continue to debate its details. Let’s hope that both sides come to an agreement soon to avoid massive confusion in the trucking industry. Trucking Regulations alone are complicated enough.

Under normal circumstances, tax provisions related to the Highway Trust Fund would be extended as part of the authorization. Unfortunately, no one can accurately predict what will happen in the future, especially with the extreme volatility between political parties of late. One thing that is predictable, however, is that ExpressTruckTax.com will keep updating their website and blog with the latest news affecting the Trucking Industry. Once there is more information available about the HVUT filing process, we will let you know. Express Truck Tax is the premier provider of Tax Services for the Trucking Industry; as soon as the IRS releases the new Form 2290, it will be available for EFiling at www.ExpressTruckTax.com

How to E-File IRS Form 2290(HVUT) and receive a stamped Schedule 1?

The Process of Filing IRS Form 2290 and getting a stamped Schedule 1 can be rather complicated. Especially now that the IRS has delayed the filing dates to November of 2011.

• The First Step to Receive a Stamped Schedule 1 for your Heavy Vehicle Use Tax (HVUT) is to Fill Out IRS Form 2290. The Schedule 1 is included in this IRS Form. This can be done either by hand or online. All that is needed to file this form is a valid EIN (Employee Identification Number), VIN (Vehicle Identification Number), and the taxable gross weight of the vehicle.
• This Form then needs to be taken to the nearest IRS Office along with a proof of payment or proof of EFTPS Payment. It can also be mailed to the nearest IRS office
• The trouble with these options is that they are both very time consuming.  
• If the form is actually taken to the IRS Office, the nearest office could possibly be many miles away. There can also be very long lines and waiting periods at the IRS office of up to several hours.  
• If the form is sent to the IRS, using postal mail, it can take 4-6 weeks before it is actually processed.
• The IRS will then review the Form 2290 and when it is verified, they will process it by stamping it and returning a portion of it to the taxpayer.  

A Stamped Schedule 1 is required in order to register a vehicle. So it can be very stressful to wait until the last minute to register your vehicle because you are waiting for the IRS to send you a stamped schedule 1. (For vehicles that need to be registered during Jul-Oct of 2011, the state DMV’s are required to accept a Stamped Schedule 1 from the previous year since it is not possible to receive a stamped Schedule 1 until November 2011)

Although these are the traditional ways of getting a Stamped Schedule 1, an easier way has come about in the past few years. E-Filing has become more and more practical as well as more efficient. An IRS-Authorized provider of this service is www.ExpressTruckTax.com.  Instead of waiting for hours or up to 6 weeks for the IRS to stamp your schedule 1, Express Truck Tax will get your stamped Schedule 1 in minutes. When you log on to the site, you can enter the information for the Form 2290, and Express Truck Tax will then automatically create a Schedule 1 based on that information. That form will be sent to the IRS electronically, and they will then send the stamped Schedule 1 back to Express Truck Tax, who will then automatically send an email notification of the file to the taxpayer. This document can also be faxed as well as emailed to the taxpayer as soon as the IRS processes the form. There are even options to receive a notification via text message. The form will be transmitted with a watermark as well as an IRS E-File logo since the document will not be physically stamped.

What You Need to File Internal Revenue Service Form 2290 Online(HVUT)

To file the IRS Form 2290 for Heavy Vehicle Use Tax, there are a few key pieces of information you will need to know in order to receive a stamped Schedule 1 from the IRS. First and foremost, you should have an idea as to the number of miles driven by each vehicle, because if a vehicle was driven less than 5,000 miles (or 7,500 miles if agricultural) then it would technically be considered to be a credit vehicle. Other information that is key to filing Form 2290 is your Employee Identification Number (EIN), Vehicle Identification Number (VIN), and the taxable gross weight of the vehicle.

The Employee Identification Number is a required section of the Form 2290. This is a number that is unique to you, and the IRS uses it to identify a business entity. If you do not have an EIN, you can apply for one through the IRS website.  

Another necessary part of the Form 2290 is, of course, the Vehicle Identification Number. Every vehicle is required to have a VIN, which is a 17 character combination of numbers and letters.  This information can typically be found on the registration or title of the vehicle. In order to know how much tax is to be paid, you must also report the Taxable Gross Weight of the vehicle. This can be found by adding the following totals: unloaded weight of the vehicle fully equipped for service, unloaded weight of any trailers equipped for service and customarily used in combination with the vehicle, and the weight of the maximum load customarily carried on the vehicle and on any trailers customarily used in combination with the vehicle.

Once this information is obtained, the best way to file the Form 2290 is by using an IRS-approved E-File provider like ExpressTruckTax.com. Filing this form online is a much better option than mailing it in, or waiting in line at the IRS office. Filing Online through the secure servers of Express Truck Tax is safer than sending important tax documents via postal mail.  It is also much quicker. The IRS typically processes each return and sends it back to you in a matter of minutes. This helps you stay focused on what matters to you, not on endless paperwork, or long lines at the IRS office.