The filing season for Form 2290, or the heavy vehicle use tax, is scheduled to begin July 1st. With the start of the filing period so close, truck owners and operators are preparing their paperwork and records from the year, so that they can properly file their Form 2290 and Schedule 1. However, there are key differences between the two documents that must be understood.
Form 2290 is the main tax document that includes all pertinent business information. More specifically, Form 2290 is used to figure and pay the tax due on highway motor vehicles utilized during the period with a taxable gross weight of 55,000 pounds or more; to figure and pay the tax due on a vehicle for which you completed the suspension statement on another Form 2290 if that vehicle later exceeded the mileage use limit during the period; to figure and pay the tax due if, during the period, the taxable gross weight of a vehicle increases and the vehicle falls into a new category; to claim suspension from the tax when a vehicle is expected to be used 5,000 miles or less during the period; to claim a credit for tax paid on vehicles that were destroyed, stolen, sold, or used 5,000 miles or less; to report acquisition of a used taxable vehicle for which the tax has been suspended; to figure and pay the tax due on a used taxable vehicle acquired and used during the period.
The Schedule 1 is the secondary document where a trucking firm would list their numerous vehicles. The Schedule 1 is used to report all vehicles which need to be taxed and those that are being reported as suspended from the tax by category and vehicle identification number (VIN), and this document is also to be used as proof of payment to register vehicle(s) in any state.Starting this year IRS has made change in the schedule1 document to accommodate vehicle numbers up to 25 in a single page.
Fortunately, Etax2290 is a service able to successfully e-file the form 2290 for owner/operators. ETax2290 offers the highest quality e-filing service in the nation. ETax2290 is trusted by many of the largest carriers and service providers in North America. If you have any questions, please contact us at our USA-based customer support center in Herndon, VA at 703-229-0326 or email us at support@tax2efile.com. Etax2290 offers various discounts and dedicated US based customer support to help its customers file taxes with ease.
Form 2290 is the main tax document that includes all pertinent business information. More specifically, Form 2290 is used to figure and pay the tax due on highway motor vehicles utilized during the period with a taxable gross weight of 55,000 pounds or more; to figure and pay the tax due on a vehicle for which you completed the suspension statement on another Form 2290 if that vehicle later exceeded the mileage use limit during the period; to figure and pay the tax due if, during the period, the taxable gross weight of a vehicle increases and the vehicle falls into a new category; to claim suspension from the tax when a vehicle is expected to be used 5,000 miles or less during the period; to claim a credit for tax paid on vehicles that were destroyed, stolen, sold, or used 5,000 miles or less; to report acquisition of a used taxable vehicle for which the tax has been suspended; to figure and pay the tax due on a used taxable vehicle acquired and used during the period.
The Schedule 1 is the secondary document where a trucking firm would list their numerous vehicles. The Schedule 1 is used to report all vehicles which need to be taxed and those that are being reported as suspended from the tax by category and vehicle identification number (VIN), and this document is also to be used as proof of payment to register vehicle(s) in any state.Starting this year IRS has made change in the schedule1 document to accommodate vehicle numbers up to 25 in a single page.
Fortunately, Etax2290 is a service able to successfully e-file the form 2290 for owner/operators. ETax2290 offers the highest quality e-filing service in the nation. ETax2290 is trusted by many of the largest carriers and service providers in North America. If you have any questions, please contact us at our USA-based customer support center in Herndon, VA at 703-229-0326 or email us at support@tax2efile.com. Etax2290 offers various discounts and dedicated US based customer support to help its customers file taxes with ease.