5 Smart Tips For 2290 Filings: 2290 Due Dates, HVUT Compliance & More

Here’s how a few smart diligent steps could help you accomplish HVUT compliance and ensure reporting accuracy for your 2290 returns.

Trucking businesses and self-employed truckers are preparing their HVUT 2290 tax forms as the IRS 2290 deadline ( August 31, 2021) are on the horizon. While the IRS encourages taxpayers to file their returns before the deadline, they also stress the importance of reporting accuracy to help taxpayers prevent file rejections and assessments. 

Intending to ensure HVUT compliance, many businesses are approaching their HVUT tax files with strategic planning and advanced tech stack solutions. This is to establish 2290 reporting accuracy and submitting the files before the IRS deadlines. 

The following will discuss in detail some smart tips that accounting teams, truckers, and trucking businesses follow to ensure HVUT compliance for their businesses.

Tip #1: Planning HVUT Reports

Businesses that choose to plan their tax reports are more likely to achieve their tax goals than those that don’t. This is because of the focus they put on organizing the tax returns and reports that need additional attention. 

For example, refund claims penalty assessment reviews and rejected returns will likely take more time than the regular 2290 reports of a tax year. 

Further, planning your HVUT reports and tax forms in order of priority and due dates will help you accelerate your reporting operations and ensure compliance.  August 31, 2021, is the due date for filing IRS Form 2290 for the 2021-2022 tax year.

Additionally, having a licensed CPA or better, a whole team of tax experts by your side through the filing season will help you better approach your tax reports. 

Tip #2: Addressing 8849 Refund Claims, Tax Suspensions, Rejected Returns, 2290 Amendments, VIN Corrections & More

Trucking businesses with large fleets have a lot to review and address before they file their tax returns. And when they do submit the required forms, the returns can be rejected by the IRS for inconsistencies. 

8849 Refund Claims, Tax Suspension Requests, Rejected Returns, 2290 Amendments, VIN Corrections, and the like need additional coordination and attention to comply with the tax reporting requirements. 

In such cases, it is better to have dedicated teamwork on returns with complex tax issues and have separate teamwork on your new reports. This way, you are optimizing your reporting process without compromising on accuracy or due dates. This approach also simplifies your organizational workflow and accelerates productivity.

Tip #3: 2290 Audits

New or previous, all tax reports have to be thoroughly audited before submission to ensure that all the vehicle, tax, and business information is reported accurately. Defining focus groups for audits or even better, outsourcing your prepared tax returns for lifecycle audits will help you gain insights on your reports. 

IRS-authorized agents like EZ2290 provide end-to-end 2290 solutions that could help you report and audit your tax returns better. Learn all about the EZ2290 Full Service here. 

Besides, when your prepared returns are audited by a fresh pair of eyes, you are more likely to address any issues that may arise and submit error-free tax returns to the IRS. 

If outsourcing your audits is not on your agenda, you can try creating multi-level audits within the organization. This could help you improve your reporting accuracy and help you spot certain tax problems at various levels that need additional focus.

Tip #4: Tax Details Verification

Tax details, such as the Taxpayer identification number (TIN) or employer identification number (EIN) and the names associated with these business identification numbers have to be validated against the official records of the IRS before filing the returns. This practice helps prevent file rejections. 

Apart from TIN Matching or EIN Matching, businesses also have to pay attention to vehicle information, such as the taxable weight of the vehicles, month of first use, vehicle identification numbers (VINs), mileage use limit, and more. This information is intricate when reporting vehicle-specific information in the 2290 return. VIN Lookup tools like NICB’s VIN Check will help you verify the vehicle and tax details, enabling you to validate the vehicle information before entering the details on the 2290 returns and VIN correction forms.

Tip #5: Bulk Files (Choosing API Solutions)

As businesses expand, they have very little time on their hands to sit and review their tax information and eventually report them. When businesses find themselves unable to accommodate the pressing tax priorities, they tend to rely on API solutions that offer bulk filing options. 

If you’ve made up your mind about bulk files, you must make sure to provide all the necessary information from your end to the concerned API team. Withholding your tax reports or information will result in 2290 reporting inconsistencies. This could eventually lead to filing rejections from the IRS. 10,000+ businesses in the U.S. are choosing to file with a reliable full-service enabler like EZ2290 to e-file 2290 returns in bulk. With seamless integrations, penalty prevention programs, smart tax calculators, dynamic user experiences, free VIN corrections, free re-files for rejected returns, bulk uploads, and more features, businesses can rely on EZ2290 for bulk files and lifecycle truck tax solutions.

More Blogs Like This

• Penalties For Late Filing: 2290 Returns
• Here’s How To Report An Increase In Taxable Gross Weight Of The Vehicle 
• How To Re-File Rejected 2290 Forms Easily
• 3 Tips To Report VIN Corrections

Useful Blog Links

• Claim HVUT Refund With Form 8849
• 5 Tips For Successful VIN Correction
• Guide: How To Read & eFile IRS Form 2290
• How To Amend 2290 Returns In Less Than 10 Minutes?

IRS Resources

• Updated: Form 2290 Instructions From IRS (PDF)
• eFile Requirements: IRS Instructions (Revised July 2021)
• IRS 2290 Due Dates (Updated)