Here’s your go-to guide to help accelerate your 2290 e-files before the IRS HVUT deadline and improve your 2290 reporting accuracy.
As the HVUT filing season is nearing its deadline, trucking businesses are in a rush to file their 2290 returns with the IRS. Having a handbook by your side will help you prevent filing delays, improve reporting, and accelerate submissions.
This simple guide has been prepared to help trucking businesses, fleet owners, owner-operating entities, and self-employed truckers with their 2290 filings.
Please note that this is a simple guide to help you with the overall process. If you are looking for comprehensive procedures and complex tax assistance, you can reach out to our customer success teams here, who provide live assistance to registered and non-registered users. If you haven’t registered with EZ2290 yet, create your free account now and start your 2290 e-Files today.
Before You Start Preparing
It is important to gather the required information for your 2290 tax reports before you start entering the information in the returns.
Have a licensed CPA or an accountant help you get the required tax and vehicle information, such as the taxpayer identification number (TIN), the number of heavy vehicles, their weights, vehicle categories, tax suspension information, mileage usage, and more.
This information plays a huge role in your 2290 reports.
Addressing Outstanding HVUT 2290 Reports
If you haven’t paid your HVUT taxes for the previous period(s), or if you are awaiting certain responses from the IRS, or if there are any pending returns from previous periods, or if you have been penalized in the past, it is worth spending some time on these instances first.
Pending or outstanding HVUT submissions can be cumulatively submitted along with the current period’s returns. However, some vehicle tax information, such as tax suspensions, final reports, unaddressed penalties + interest, and more can make a significant difference in the total tax you have to pay for this year.
Understanding Vehicle Categories
Vehicles are primarily categorized according to their taxable weight and logging status. However, the tax will differ according to other instances, such as tax suspension and exemption status. Further, agricultural vehicles and credit vehicles are subject to lower tax rates. These factors have to be considered when approaching your truck taxes.
Vehicle Weight Calculation
It is important to derive the actual taxable weight of your vehicle before you enter the details on your 2290 returns. You do not have to do any complex math to calculate the tax estimate.
All you have to do is check if the vehicle is 55,000 pounds or more. If the weight is 55,000 or more, then your heavy vehicle is required to be reported with 2290 HVUT forms.
Calculate your HVUT tax easily in a couple of seconds with EZ2290’s Smart Tax Calculator. Enter the weight, month of first use, and the logging status of your vehicle, and you will see the approximate tax you have to pay.
If you are a registered user of EZ2290, our dynamic platform automatically calculates the tax as you enter your vehicle details on your 2290 e-returns. The information entered in the fields is processed in real-time so that you have accurate figures to work with.
Tax Information Validation
When reporting your heavy vehicles, it is absolutely important to ensure that there are no TIN discrepancies. It is worthy to note that the IRS will reject your returns if the furnished TIN or EIN information does not match their official records. You can validate the TIN/EIN information in real-time with the IRS TIN Matching service from the official portal here or use trusted tools like Tax1099 TIN Match service for better and faster results. Only enter the tax information after thorough verification. This comes in extremely handy for paid preparers who prepare the tax returns on behalf of their clients.
Vehicle Information Validation
Similar to a TIN, the vehicle identification number of your highway truck has to be verified per the official records to check the status of the vehicle and assess the scope of the tax.
Entering the wrong VIN will result in the returns being rejected by the IRS due to incorrect information. VIN Lookup will help you validate the vehicle details and report accurately. You can verify your VINs online using VIN lookup tools for free. Use Ez2290’s free VIN corrections feature by filing a form 2290 amendment.
Form 2290 Due Dates & Deadlines For 2021 -2022
The IRS requires taxpayers to file their HVUT returns by paper or through electronic methods by August 31 of each year. The deadline for submitting your 2290 forms to the IRS for the 2021-2022 tax year is August 31, 2021.
If you have purchased a new vehicle, the 2290 returns have to be submitted by the end of the successive month, denoting the month of first use.
For example, if you first started using a vehicle in March 2021, then you must report the same by the end of April 2021 to ensure HVUT compliance.
Form 2290 Rejections & Amendments
The IRS can reject your HVUT 2290 forms if the tax or vehicle information reported is not accurate. There are a variety of reasons why a return could be rejected, including but not limited to the following citations.
- Incorrect tax information
- Incorrect vehicle information
- Incorrect VIN
- Return submitted after the deadline with no prior notice or requests
Or any other reason.
Addressing the rejected returns at the earliest is the quickest road to compliance. To amend the incorrect information reported, the taxpayer has to file the 2290 Amendment and furnish the corrected information.
Learn more about Form 2290 amendments here
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