Truckers should wait until November to file their federal highway use tax returns – a three-month extension -- in this new YouTube video.
Watch this and other videos on the IRS’s YouTube Channel
Showing posts with label form 2290 download. Show all posts
Showing posts with label form 2290 download. Show all posts
Tuesday, September 13, 2011
Thursday, September 8, 2011
Heavy Vehicle Use Taxes (IRS Form 2290) for Commercial Vehicles
A vehicle is considered to be commercial vehicle in the United States if it is titled or registered to a company. This all-encompassing definition includes vehicles in a fleet, company cars, as well as other vehicles used for business. Vehicles that are designed to carry more than 16 passengers are also considered to be a commercial vehicle.
Here are the qualifications for commercial vehicles
Here are the qualifications for commercial vehicles
- A company or corporation owns the title of the vehicle.
- The vehicle is used for business purposes.
- The vehicle is a leased vehicle and in the name of the financial institution that owns it.
- The vehicle exceeds a certain weight and is therefore “classified” as commercial even though it may not be commercially used or commercially owned. A weight of 26,001 pounds or more is always considered to be commercial.
- The vehicle is used to transport hazardous materials.
1. Class 1- GVWR: from 0 to 6,000 pounds (0 to 2,722 kg)
2. Class 2- GVWR: from 6,001 to 10,000 pounds (2,722 to 4,536 kg)
3. Class 3- GVWR: from 10,001 to 14,000 pounds (4,536 to 6,350 kg)
4. Class 4- GVWR: from 14,001 to 16,000 pounds (6,351 to 7,257 kg)
5. Class 5- GVWR: from 16,001 to 19,500 pounds (7,258 to 8,845 kg).
6. Class 6- GVWR: from 19,501 to 26,000 pounds (8,846 to 11,793 kg)
7. Class 7- GVWR: from 26,001 to 33,000 pounds (11,794 to 14,969 kg)
8. Class 8- GVWR: above 33,000 pounds (14,969 kg)
If a Class 8 commercial vehicle weighs more than 55,000 lbs, it is subject to heavy vehicle use taxes. The tax is paid to the Internal Revenue Service (IRS) using the IRS Form 2290. Heavy Vehicle Use Tax is a federal tax. Individual states do not collect the tax. However, in order to properly register your vehicle with the state, you must present a Stamped Schedule 1 from the Form 2290 to the local DMV when registering the vehicle.
The official qualifications to be liable for heavy vehicle use taxes stipulate that a vehicle must have a gross weight 55,000 lbs or more. The IRS defines taxable gross weight as the sum of:
2. Class 2- GVWR: from 6,001 to 10,000 pounds (2,722 to 4,536 kg)
3. Class 3- GVWR: from 10,001 to 14,000 pounds (4,536 to 6,350 kg)
4. Class 4- GVWR: from 14,001 to 16,000 pounds (6,351 to 7,257 kg)
5. Class 5- GVWR: from 16,001 to 19,500 pounds (7,258 to 8,845 kg).
6. Class 6- GVWR: from 19,501 to 26,000 pounds (8,846 to 11,793 kg)
7. Class 7- GVWR: from 26,001 to 33,000 pounds (11,794 to 14,969 kg)
8. Class 8- GVWR: above 33,000 pounds (14,969 kg)
If a Class 8 commercial vehicle weighs more than 55,000 lbs, it is subject to heavy vehicle use taxes. The tax is paid to the Internal Revenue Service (IRS) using the IRS Form 2290. Heavy Vehicle Use Tax is a federal tax. Individual states do not collect the tax. However, in order to properly register your vehicle with the state, you must present a Stamped Schedule 1 from the Form 2290 to the local DMV when registering the vehicle.
The official qualifications to be liable for heavy vehicle use taxes stipulate that a vehicle must have a gross weight 55,000 lbs or more. The IRS defines taxable gross weight as the sum of:
- The unloaded weight of a vehicle that is fully equipped for service
- The weight of any unloaded trailers, equipped for service, and typically used with the vehicle
- The maximum weight of the load customarily carried on the vehicle and on any trailers customarily used with the vehicle.
Wednesday, September 7, 2011
Obama Supports Transportation Bill to Save Jobs
President Barack Obama has once again urged Congress once more to extend the transportation bill, following a jobs report that was not very flattering of the American economy. This message served as a warning that letting the current transportation bill expire would be an economic disaster that could be easily avoided.
Obama focused on the amount of jobs that would be furloughed and eventually removed if a decision could not be made in Congress. “Right away, over 4,000 workers would be furloughed without pay. If it’s delayed for just 10 days, we will lose nearly $1 billion in highway funding that we can never get back. And if we wait even longer, almost 1 million workers could be in danger of losing their jobs over the next year.” These jobs are literally left in the hands of Congress. They can choose to extend the bill, or create a more long term solution, but action needs to be made regardless.
President Obama made a speech from the White House’s Rose Garden last week, in which 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. He gave Congress another warning at that time also, stating that letting the transportation bill expire at the end of the month would be “not acceptable” and “inexcusable.”
In his recent address, the president reiterated that thousands of workers and their families would be hurt if infrastructure projects like highway construction, bridge repair and mass transit systems were put on hold. Obama has previously spoken about renewing the transportation bill as a “no-brainer.” It is also important to note that Congress has renewed the bill seven times in the last two years, and as badly as Americans need jobs, not renewing it this time would be a grave mistake. Nonetheless, a new and sustainable bill would be the best option.
“But thanks to political posturing in Washington, they haven’t been able to extend it this time — and the clock is running out,” he said. Virginia, Minnesota and Florida are examples of states that have thousands of jobs on the chopping block, and the President argued that the decision to let the bill expire is “completely avoidable.”
“This isn’t a Democratic or a Republican issue — it’s an American issue,” he said. The president also mentioned that a group of 128 Democratic and Republican mayors have written to Congress, urging their representatives to pass the extension.
Obama also added a statement that nicely summarizes the heart of the issue: “There’s a lot of talk in Washington these days about creating jobs. But it doesn’t help when those same folks turn around and risk losing hundreds of thousands of jobs just because of political gamesmanship. We need to pass this transportation bill and put people to work rebuilding America.”
To see a video of Obama’s address urging the passage of the bill, you can check it out here. This Information has been provided by the Truck Tax Team at www.ExpressTruckTax.com.
Obama focused on the amount of jobs that would be furloughed and eventually removed if a decision could not be made in Congress. “Right away, over 4,000 workers would be furloughed without pay. If it’s delayed for just 10 days, we will lose nearly $1 billion in highway funding that we can never get back. And if we wait even longer, almost 1 million workers could be in danger of losing their jobs over the next year.” These jobs are literally left in the hands of Congress. They can choose to extend the bill, or create a more long term solution, but action needs to be made regardless.
President Obama made a speech from the White House’s Rose Garden last week, in which 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. He gave Congress another warning at that time also, stating that letting the transportation bill expire at the end of the month would be “not acceptable” and “inexcusable.”
In his recent address, the president reiterated that thousands of workers and their families would be hurt if infrastructure projects like highway construction, bridge repair and mass transit systems were put on hold. Obama has previously spoken about renewing the transportation bill as a “no-brainer.” It is also important to note that Congress has renewed the bill seven times in the last two years, and as badly as Americans need jobs, not renewing it this time would be a grave mistake. Nonetheless, a new and sustainable bill would be the best option.
“But thanks to political posturing in Washington, they haven’t been able to extend it this time — and the clock is running out,” he said. Virginia, Minnesota and Florida are examples of states that have thousands of jobs on the chopping block, and the President argued that the decision to let the bill expire is “completely avoidable.”
“This isn’t a Democratic or a Republican issue — it’s an American issue,” he said. The president also mentioned that a group of 128 Democratic and Republican mayors have written to Congress, urging their representatives to pass the extension.
Obama also added a statement that nicely summarizes the heart of the issue: “There’s a lot of talk in Washington these days about creating jobs. But it doesn’t help when those same folks turn around and risk losing hundreds of thousands of jobs just because of political gamesmanship. We need to pass this transportation bill and put people to work rebuilding America.”
To see a video of Obama’s address urging the passage of the bill, you can check it out here. This Information has been provided by the Truck Tax Team at www.ExpressTruckTax.com.
Friday, August 26, 2011
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.
Saturday, August 20, 2011
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
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
Wednesday, August 17, 2011
Keeping Records for Internal Revenue Service Form 2290
When it comes time to file Heavy Vehicle Use Tax with the IRS using Form 2290, it is very important that you keep accurate records, the same way that you would when filing any other type of tax return. It is crucial for anyone filing form 2290 to maintain their records for at least the prior 3 years for any taxable highway vehicles registered in their name. For fleet owners, owner operators, and small trucking companies who have filed form 2290 in the past, it is wise to always keep the 2290 records on hand, as one never knows when the IRS inspection may take place. It is even important to save these returns if they are only for a part of a year. In the case of a suspended vehicle (public highway use was less than 5,000 miles/year) it is still necessary to keep records of Form 2290’s filed for them as well.
You will need to gather the following information before filing form 2290 to accelerate the filing process:
ExpressTruckTax.com is an IRS authorized E-File provider who can help you file form 2290 as well as keep secure online records of previously filed form 2290’s. For more information on the 2290 filing process, heavy vehicle use tax, IRS payment methods, etc visit the Express Truck Tax website or call our Truck Tax experts at 704-234-6005. You can also email any questions to support@ExpressTruckTax.com.
You will need to gather the following information before filing form 2290 to accelerate the filing process:
- Vehicle Descriptions: detailed information for all of the vehicles for which you are filing.
- VIN (Vehicle Identification Number) for each one.
- Gross Taxable Weight of the vehicle.
- Date the vehicle was acquired.
- Name and address of the previous owner.
- First Use Month.
- If a vehicle is considered to be suspended, keep a record of actual highway mileage.
- If the vehicle is an agricultural vehicle, then keep accurate records of the number of miles it is driven on a farm or field.
ExpressTruckTax.com is an IRS authorized E-File provider who can help you file form 2290 as well as keep secure online records of previously filed form 2290’s. For more information on the 2290 filing process, heavy vehicle use tax, IRS payment methods, etc visit the Express Truck Tax website or call our Truck Tax experts at 704-234-6005. You can also email any questions to support@ExpressTruckTax.com.
Friday, August 12, 2011
What is the purpose of IRS Form 2290(HVUT) and how it can be e-filed?
The purpose of Form 2290:
IRS Form 2290 is meant to send information about the usage of a commercial truck and to pay taxes on that use to the IRS. You can use this form for a single truck filing, or up to twenty-five vehicles can be reported on one form. The major reasons for filing the form include:
As mentioned Earlier, the typical tax year is from July 1 to June 30, but this year it has changed. Due to legislation being held up in Congress, there has yet to be a legislation enacted to collect these Heavy Vehicle Use Taxes. The IRS has announced that it will not be accepting these forms until November 1 this year.
Parts of the Form:
While this form is broken down into two parts, those who file electronically with ExpressTruckTax.com only need to enter information one time. The Form 2290 consists of the Form and the Schedule 1 that needs to be stamped by the IRS in order to register a vehicle with the state DMV. Much of the information for these forms are duplicate information. Filing online with the Express Truck Tax service will save you time by only entering information once.
When E-Filing this form, instead of physically stamping the Schedule 1, the IRS will send a Schedule 1 with an official IRS watermark to verify that it was processed. State DMVs are required to accept this as proof of the Schedule 1.
Heavy Highway Vehicles:
The IRS also provides a way for owners and operators of multiple vehicles to include them in the same form. The Schedule attached to Form 2290 allows the taxpayer to list the VINs of all included vehicles. When filing electronically, you can even upload an excel document of all your vehicles. Another beneficial feature of ExpressTruckTax.com is the option to perform Free VIN Corrections. Instead of having the form rejected and sent back to you, you can correct the mistake and submit it to the IRS again at no extra charge.
Questions About the Form 2290:
If you have any questions about Filing Form 2290 or if you qualify, feel free to call the Truck Tax Experts at Express Truck Tax at (704)234-6005. You can also email them at support@expresstrucktax.com. You can also checkout their Website and Blog to stay up to date on the latest Truck Tax information: www.ExpressTruckTax.com.
IRS Form 2290 is meant to send information about the usage of a commercial truck and to pay taxes on that use to the IRS. You can use this form for a single truck filing, or up to twenty-five vehicles can be reported on one form. The major reasons for filing the form include:
- Calculating and paying the taxes owed on Heavy Highway Use Vehicles
- Claiming a suspension of the tax for vehicles driven less than 5,000 miles during the applicable period (or 7,500 miles if agricultural use)
- Claiming a credit for a sold, stolen or destroyed vehicle
As mentioned Earlier, the typical tax year is from July 1 to June 30, but this year it has changed. Due to legislation being held up in Congress, there has yet to be a legislation enacted to collect these Heavy Vehicle Use Taxes. The IRS has announced that it will not be accepting these forms until November 1 this year.
Parts of the Form:
While this form is broken down into two parts, those who file electronically with ExpressTruckTax.com only need to enter information one time. The Form 2290 consists of the Form and the Schedule 1 that needs to be stamped by the IRS in order to register a vehicle with the state DMV. Much of the information for these forms are duplicate information. Filing online with the Express Truck Tax service will save you time by only entering information once.
When E-Filing this form, instead of physically stamping the Schedule 1, the IRS will send a Schedule 1 with an official IRS watermark to verify that it was processed. State DMVs are required to accept this as proof of the Schedule 1.
Heavy Highway Vehicles:
The IRS also provides a way for owners and operators of multiple vehicles to include them in the same form. The Schedule attached to Form 2290 allows the taxpayer to list the VINs of all included vehicles. When filing electronically, you can even upload an excel document of all your vehicles. Another beneficial feature of ExpressTruckTax.com is the option to perform Free VIN Corrections. Instead of having the form rejected and sent back to you, you can correct the mistake and submit it to the IRS again at no extra charge.
Questions About the Form 2290:
If you have any questions about Filing Form 2290 or if you qualify, feel free to call the Truck Tax Experts at Express Truck Tax at (704)234-6005. You can also email them at support@expresstrucktax.com. You can also checkout their Website and Blog to stay up to date on the latest Truck Tax information: www.ExpressTruckTax.com.
Wednesday, August 10, 2011
Current Truck Tax Regulations scheduled to expire on September 30, 2011
Although passing bills in a timely fashion is not what this current congress is known for, there is another 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 industry for a loop.
The transportation law known as SAFETEA-LU – the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users – 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 built in what they believed to be enough time to get the next multi-year transportation authorization bill in place.
Those two years have gone by too rapidly and without a new Highway Bill to replace it. House and Senate committees are now drafting preliminary versions of the legislation and continue to debate its details.
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 parties these days. 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.
The transportation law known as SAFETEA-LU – the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users – 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 built in what they believed to be enough time to get the next multi-year transportation authorization bill in place.
Those two years have gone by too rapidly and without a new Highway Bill to replace it. House and Senate committees are now drafting preliminary versions of the legislation and continue to debate its details.
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 parties these days. 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.
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