Are you still using manual method to file Form 2290 HVUT? As in the pandemic situation, the safe and secure method to file your HVUT on Form 2290 is e-filing. E-filing Form 2290 has a lot of benefits.
Doesn’t know about HVUT Form 2290 online filing benefits? We’ll let you know about the advantages of filing Form 2290 online. Firstly, every trucker needs to know the differences between a paper filing and e-filing of Form 2290. We have provided you the detailed information about choosing to file your HVUT Form 2290 electronically.
Differences between paper filing and e-filing Form 2290
Form 2290 HVUT can be submitted to the IRS through paper filing or e-filing. Paper filing Form 2290 is a manually process. You may face the risk of error filing and also charges for the taxes you owe. It leads to pay taxes twice. You can file paper forms multiple times.But you need to collect the Forms from the local IRS office. Receive the hard copy of IRS stamped Schedule 1 within 4-6 weeks by paper filing Form 2290.
Compared to paper filing, e-filing is the easiest method to file Form 2290 HVUT. E-filing HVUT returns can be submitted more than once to the IRS. But the taxes are paid only once on each vehicle. Filing Form 2290 online helps the trucker in processing the HVUT returns, saves the information etc. E-filing Form 2290 HVUT is secure, easy, convenient, and accurate process. You can receive you Schedule 1 of Form 2290 within minutes.
IRS HVUT Form 2290 online filing information
When you’re filing Form 2290 HVUT electronically, you need the below information:
You’re required to provide the business details of the organization filing Form 2290. You need to select the type of business. This includescorporation, estates, partnerships, exempt organizations, LLC, sole proprietorships, and others.
You need to include your vehicle information i.e., the type of the vehicle you’re filing Form 2290. The vehicles are divided into three categories:
The taxable vehicles are the vehicles whose total mileage limit crosses 5,000 miles.
When the total mileage on the vehicle is less than 5,000 miles, the vehicle is considered as suspended vehicle.
The credit vehicles are the vehicles which are sold/damaged/destroyed and claims refund. You can claim refund of the tax you’ve paid to these vehicles through Form 2290.
E-filing Form 2290 HVUT Advantages
As stated earlier, the information you’re sending to the IRS is accurate and secured through e-filing. Through E-filing Form 2290 the information is kept safely in their database. Hard copies are much more difficult to keep track of and can get lost along the way. E-filing made easy to keep a track of your HVUT payments in your account securely. E-filing of Form 2290 is beneficial, as it provides instructions to the truckers who are new to file their HVUT payments.
As we know, the IRS conducts number of screening test to provide authorization to the service provider. Choose an IRS authorized e-file provider to process your returns safe and securely. E-filing software provides 24*7 guidance to the trucker in processing the HVUT returns. You have an advantage of filing Form 2290 HVUT irrespective of place, and time. Just you need the internet to access and process the returns.
How does E-filing help in filling out Form 2290?
E-filing is the process of submitting tax returns using tax preparation software that has been approved by the IRS. E-filing helps in filling out Form 2290 in numerous ways. They are discussed below
You can easily file your Form 2290 online sitting at your own place, office, or any place. E-filing reduced the risk of standing in the ques at the IRS office.
You may observe that few of the truckers being scammed on taxes, insurance. With the help of E-filing Form 2290 with IRS authorization, you can file with confidence owing to its safety and security standards. IRS approves the e-file provider after conducting numerous screening tests.
A very genuine fact when you E-file Form 2290 is it contains very few errors compared to the paper-filed ones. As we know, paper filing Forms includes human interaction. This may lead to face the risk of error filing. If the error occurs, there are chances to correct errors.
Receive your stamped Schedule 1 instantly
E-filing is much faster when compared with paper filing and you can get the stamped Schedule 1 in minutes. It acts a proof of your HVUT payment to the IRS.
Steps to e-file Form 2290 HVUT
Given below are the steps to E-file Form 2290 HVUT:
Signup with the IRS E-file provider
- Signup/ login with the IRS E-file provider. Create a free account on the IRS authorized E-file provider by providing the email address, name, and password to operate the account. Already existing users can login to the account through the registered email address and password to access the account. Start filing your HVUT return.
- Enter the business information. This includes business type, business name, EIN, business address, and signing authority details.
- Select Form you’re going to File. This includes, Form 2290 HVUT, Form 8809, etc.
- Enter the first used month of filing. Taxes are calculated based on the first used month and the gross weight of the vehicle.
- Include the vehicle information i.e., taxable vehicle, tax suspended vehicle, and credit vehicle.
- Choose the IRS payment option. You can select EFW, EFTPS, or check or money order, or credit/debit payment options to pay the HVUT.
- Pay the processing fee to submit your HVUT returns online to the IRS. Users can make payment of the Form 2290 online filing service charge through credit/debit card and submit the filing.
- Download the IRS stamped Schedule 1. The IRS stamped Schedule 1 can be downloaded through the e-file provider site. Additionally, the Schedule 1 is mailed to the registered email address of the user.
When to file Form 2290 to the IRS?
Anyone who has registered or is required to register a heavy highway motor vehicle with a taxable gross weight of 55,000 pounds or more. These people or organizations are required to file Form 2290 HVUT for using their heavy motor vehicles on public highways.
The filing season for Form 2290 filers is July 1 through June 30. Filing deadline is based on the month you first use the taxable vehicle on public highways. For example, if you purchased the vehicle and started using it in the month of January, you need to file Form 2290 HVUT by March 1st, 2021.
Form 2290 online filing is the best IRS authorized e-file provider where your information is transmitted safely and securely. We provide you an easy way to file your HVUT through Form 2290.