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Wednesday, July 25 2018
A Reminder from the IRS to Truck Drivers

If you are an independent truck driver and don't hire the services of a professional accountant important to know that the Internal Revenue Service (IRS) is reminding owners of most heavy highway vehicles that the time to file Form 2290, Heavy Highway Vehicle Use Tax Return, began July 1, 2018. 

You may now use a credit card or debit card to pay the Heavy Highway Vehicle Use Tax. 

The highway use tax applies to highway motor vehicles with a taxable gross weight of 55,000 pounds or more. This generally includes large trucks, truck tractors, and buses. The tax is based on the weight of the vehicle and a variety of special rules apply. These special rules are explained in the instructions to Form 2290.

Important Reminders:

  • File Form 2290 for any taxable vehicles first used on a public highway during or after July 2018 by the last day of the month following the month of first use. See When to File Form 2290 for more details.
  • Everyone must complete the first and second pages of Form 2290 along with both pages of Schedule 1. You only need to complete the “Consent to Disclosure of Tax Information” and “Form 2290-V, Payment Voucher” pages when applicable.
  • You must have an established employer identification number (EIN) to file Form 2290. Apply online now if you don’t already have an EIN; it takes us about two weeks to establish new EINs.  

If you have a change in your vehicle status you must :

  • Claim a suspension for vehicles you expect to use 5,000 miles or less (7,500 for agricultural vehicles) during the reporting period. If the suspended vehicle exceeds the mileage use limit during the reporting period, the tax becomes due.
  • Claim a credit for tax paid on a vehicle that is destroyed, stolen or sold or one that is used 5,000 miles or less (7,500 for agricultural vehicles). You may need to wait until the tax period has ended, to make your claim.
  • If e-filing, you can only change the weight and mileage of vehicles included on the originally filed Form 2290. You must file a paper form to report other changes.
  • If you need to change your vehicle’s VIN as reported on Form 2290 for any reason, include a written statement telling us why.

In 2018, the IRS expects to receive almost 800,000 Heavy Highway Vehicle Use Tax Returns. Though some taxpayers have the option of filing Form 2290 on paper, taxpayers with 25 or more taxed vehicles must e-file Form 2290. Returns must be filed and tax payments made by Aug. 31, 2018, for vehicles used on the road during July.

The IRS encourages all owners to take advantage of the speed and convenience of e-file and paying any tax due. There is no need to visit an IRS office because the form can be filed and any required tax payment can be made online. Visit IRS.gov for a list of IRS-approved e-file providers and to find an approved provider for Form 2290 on the 2290 e-file partner’s page.

Generally, e-filers receive their IRS-stamped Schedule 1 electronically minutes after filing. They can then print the Schedule 1 and provide it to their state department of motor vehicles, without visiting an IRS office.

For those who want face-to-face service, all IRS Taxpayer Assistance Centers now operate by appointment and taxpayers can call 844-545-5640 to schedule one. See the Taxpayer Assistance Center page on IRS.gov for details.

Posted by: AT 03:38 pm   |  Permalink   |  0 Comments  |  Email
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