Some confusions about form 2290 and it is really important to understand them.
Tax Year:
Different
type of forms have
to be filled in for paying different taxes. And
they all
are having separate time frame along with due dates. Form 2290 is one
of these and it is to pay heavy vehicle use tax. Tax filers always
get confusion about when to file form 2290.
Form
2290 has to be filed every year in July or before the end of the
August. However it also depends on taxable
vehicle's First Used Month. For
instance; the taxable vehicle first used on the public highway in
Month of July, file form 2290 between July 1 to August 31. That mean
the due date to file form 2290 for that particular vehicle is August 31.
Heavy Vehicle’s Gross Weight Confusion:
Many
truck owners and tax filers are having question, do we need to file
form 2290? if yes then what gross weight do I need to select?
People
must file Form 2290 for those trucks which have (taxable) gross
weight of 55,000 pounds or more. Here is the point where they feel
confusion about calculating the taxable gross weight. On the form 2290, IRS considers maximum loaded vehicle's gross weight. That
includes truck, trailer and maximum load. Many
tax payers think that the gross weight they should select on form 2290 is either empty vehicle’s weight or the load they haul on the
vehicle. That is completely incorrect. If
someone e-files form 2290 with incorrect gross weight then later
on they
are being asked to submit an amendment of gross weight.
Vehicle Registration:
Truckers
often get confused with Vehicle Registration date
and Form 2290 filing due
dates. They think like
it works parallelly, in fact it does not. Form 2290 filing date is
not tied with the
vehicle registration date. Regardless
of the date of registration renewal, the due date to file form 2290
is
on last day of the next month from the month when taxpayer has
started using the vehicle very first time on the public highway.
Example
for better explanation; if some ones registration expires on February
then the person thinks that the due date to file Form 2290 is
the same as end of registration date, month of February. That is
incorrect, as
the form 2290 has to be filed once in a year (in most of the cases)
that is in July or before end of the August.
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