Firstly, it is important for one to understand what Form 2290 is and who should register for IRS Form 2290 is filed with the IRS for tax returns. If you own a heavy duty vehicle whose gross weight is over 55000 pounds or more, then you will have to file form 2290. Also, you will have to file form 2290, if your heavy weight vehicle has been used for 5000 miles or more. If the vehicle is not used for 5000 miles, then your vehicle can be suspended from filing HVUT tax 2290.
As with every official form, it is mandatory to be filed before the due date. The 2290 form must be filed as per the rule and well before the given due date. If it is not met, then there are chances of penalties. The validity for the form 2290 is for a year. The 2290 online filing must be done with an IRS authorized agency. When you file and pay for HVUT tax 2290, you as a citizen is being responsible and are contributing towards a better road way and utilities along the highway. This is in turn for the benefit of the drivers.
Due Dates In The Context Of Form 2290
As it is mentioned before, the validity for the form 2290 is for a year. Therefore, one must ensure that the form is submitted before the given due date. If the filing of IRS HVUT is done on the 1st of August then you can use the vehicle till 30th July of the next year without any fine. If you have just recently started using your vehicle or it is new, then the due date will fall on the last date of the following month. Like, you started using your vehicle on 27th august, then 30th September will be the due date to pay 2290 online. It is very important to fill the form 2290 with an authorized agency. The authorization is identified if there is a watermark of the IRS.
Procedure to file Form 2290
There are 2 ways by which you can file with the IRS form 2290. Following are the methods with which the Form 2290 could be filed.
- Online filing – This is the easiest and the fastest way with which the Form 2290 could be filled. The only thing to be kept in notice is that the site with which the form 2290 is filed should be authorised by the IRS. This agency could be present anywhere in the world. Just within minutes, you will get your IRS schedule 1 copy when you will file for IRS HVUT tax 2290. It is straight forward, the site will ask for all the mandatory details and if they are filed and met, the e-from 2290 could be filed immediately. After this, you will receiveSchedule 1. Schedule 1 will be received only after the acceptance of form 2290. You need to be careful while choosing and filing only with IRS authorized agency.
- Paper Filing – Paper Filing is nothing but he manual pen and paper way. It is a very time-consuming process to file IRS form 2290. Firstly, you will have to take an appointment from the Internal Revenue Service to file for the form 2290. After that, during the office hours visit the IRS office and then file your form. The paper filing will consume a lot of time and it will take around 5-45 days to get a copy of schedule 1 in your hand. Paper filing is the wastage of time and energy as with e filing you get the schedule 1 copy just within minutes. As with everything, manual filing and processing is a lot time consuming and annoying.
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It is crucial to always file the form 2290 before any due date for ensuring that there are no penalties put up on the truck. If you do not file the form 2290 before the due date, then the penalty which is levied is of 4.5%. So file the form before the due date. The 4.5% could be easily avoided if one is being careful and responsible.