Form 2290 is used to report & pay HVUT. Vehicle with a gross weight of 55,000 pounds or more needs to file tax. If the vehicle was first time used on the highway in the month of February, then march 31st is the last date to file and pay prorated tax for the year.
Online PR News – 29-March-2014 – Franklin, Tennessee – Tax2290.com, a prime product of ThinkTrade Inc. reminds truckers, owner operators and trucking companies to file their form 2290 on or before March 31st for the first used vehicle on the public highway in the month of February to avoid penalties.
Generally, the tax period for Heavy Vehicle Used Tax begins on July 1, 2013, and ends on June 30, 2014. The return should be filed and the liabilities should be paid by Aug. 31 for vehicles used on the road during the year. However, for vehicles first used after July, the deadline is the last day of the month following the month of first use. Therefore, March 31st is the due date for filing tax return 2290 for the vehicles first bought in use during the month of February.
The highway vehicle used tax or HVUT applies to highway motor vehicle with a taxable gross weight of 55,000 pounds or more and the average miles covered is 5,000 miles or more (7,500 miles for Agricultural vehicles), which generally includes trucks, truck tractors and semi trailers. The maximum payable tax is $550 per vehicle based on weight, including a variety of special rules applied, which is explained in the Form 2290 instructions.
Being pioneers in the world of filing taxes, Tax2290.com welcomes every taxpayer to efile their tax return 2290 online for easy access and simple filing. The application is unfolded with user-centric features, allowing the user to file with ease. E filing brings in the other side of life, allowing the taxpayers to file and pay their dues on or by the due date without any hurdles to cross.
Existing since electronic filing is in power, Tax2290.com believed in making the process trouble-free and the features simply tagged along. Text Alerts and Fax Copy are the two features that allow taxpayers to get an update about their filing through Text on their Mobile Phones and receiving schedule 1 through Fax. Here’s not the end, Tax2290.com has made its place in the Android world and iOS platform, letting the users to file form 2290 on-the-go. Grab the app on the gadgets for easy and smooth filing HVUT.
Though taxpayers have the option of paper filing form 2290 HVUT, the IRS encourages all the taxpayers to take the advantage of the speed and convenience of filing and paying form electronically. However, taxpayers reporting 25 or more vehicles must e-file their return online.
So buckle up taxpayers, file the prorated tax, which is applicable only for the vehicles that is first time on road after the tax season. This applies for the vehicles first bought on road in the month of February. The payment should be done on or by the last day of the following month after first month of use. So file the return today to leave behind the penalties. Happy Filing!