Understanding the Form 1099-Misc

The IRS 1099 Misc form needs to be filled out if you have certain, specific types of what is called miscellaneous payments to non-employees, like independent contractors.

Exemption of Trucks From Filing Highway Heavy Use Tax 2290

Heavy Vehicle Use Tax, which is also known as HVUT can be defined as the annual fee taken from heavy vehicles for their transportation on public highways.

2290 IRS Tax Form - Read Out the Concept and Understand the Need

Form 2290 or 2290 IRS tax form or Heavy Vehicle Use Tax are all same and all the terms represent the standard form of Internal Revenue Service (IRS)

The Different Payment Options That Are Available For IRS Form 2290 eFile

Being a truck owner in the USA, it’s a self-responsibility to declare the tax returns for the usage of the heavy vehicle trucks in the highways.

Tuesday, 31 December 2013

How and Why You Need to E-file Form 1099?

There are many reasons you need to fill out and file form 1099. Today we are going to talk about who must file form 1099 and who can file 1099 online from Etax1099.

Why File Form 1099?

You must file form 1099 if you have many a salary, tips, or wages that have not been reported to the IRS already.  Any and all money that a person makes is taxable and must be reported using the form 1099-MISC if you have made over 600.00 a year. Many professions are known to have to deal with taxes themselves using this form and some of them include babysitters, waitresses, people who freelance, contractors, artists, and even people who have their own businesses and do work for others will need to fill out form 1099-Misc.  To make things easier for you and for the IRS you are able to e-file 1099 using our services here at Etax1099.com. 

How to File Your Form 1099 Online?

Etax1099 offers a very easy way for to e-file online using a 5 step process.  First, you will need to set up an account and this includes your personal information such as your name, where you live, what kind of profession you are currently work for, and if you are self-employed.  The next step is to fill out the payer’s information and this is where you fill in who you did the work to be taxed for.   The person that you fill this out for should give you a form with the amount on it, this is where you will find the information needed to give the IRS. Next, you will have to add the tax details so the IRS knows how much money has been paid out and you will then figure out how much money you owe the IRS.  Next, after all the information has been filled out and you no longer have any questions you can e-file to the IRS for a very cheap price, starting at 3.95 dollars.  You will also be able to access 24 hours and 7 days a week customer service if you have any questions, and we offer many different plans if you need extra help including a premium plan which allows us to do all the work for you if you prefer.  

Why to trust Etax1099.com?

You can trust Etax1099.com because we are an authorized IRS provider, an accredited business with the Better Business Bureau, McAfee Secured, and also has the Go daddy secured site award to assure that all business done on this site is secure and safe.    Your information will be kept in your personal account for 3 years in case you need any information that was done a few years before. 

As you can see there are many great reasons to e-file your form 1099-MISC with etax1099.com.  We offer a safe, secure, easy, and helpful way to report all your 1099 forms without any hassle and we will walk you thru it step by step. 

Sunday, 3 November 2013

How to Efile Form 7004?

If you need extra time to file your business income tax, information, or other returns under your name, you are going to need a form 7004. When you file this, it is an application for an automatic 5 month extension on those documents’ deadline for filing (tax day is April 15th), so it really is a very beneficial thing to do if you are not fully prepared for filing everything. It is overall an easy document to fill out, but some may still find it to be a little confusing in certain areas, especially with the tax jargon and what not. So here is a little ‘how to’ on how you can file form 7004 online quickly and successfully. There are three sections to the form, everyone must fill out either Part I or Part II (depending on the type of extension you are requesting) and the third, which is mandatory for everyone. So we’ll break it down per section.

Source: FLickr

Part I-Part II

This is a very simple step, you just have to determine which amount of time you wish to extend for. You must first indicated on Line 1a what type of tax return you are asking for an extension on. This line is for the 5-month extension. Line 1b is for the 6-month extension; on either of these lines that you choose, be sure to enter only one code that represents your tax return type.

If in the event you are requesting to file an extension for a corporation or business located outside the United States, Line 2 provides the space to indicate this. This will be a 6-month extension though. If you have a corporation needing the extension in the US, Line 3 is designated for that.

Part III

Line 5a is for those who file outside of the usual calendar year. Here you indicated what your start and ending dates are for your tax year. Line 5b is for if you have a shorter tax year than others. Just be sure to provide documentation as to why you do this when filling it out.

On Line 6 you are expected to enter the total amount of tax you are expected to owe for that year. There are special instruction for this, and you can find them at the bottom of the document.  Do understand that even though you are filling out an application for an extension to file, it does not apply to the deadline in which you have to pay your taxes. Do not confuse what the extension actually means. Line 7 is for the total amount of payments and refundable tax credits.

When you are done filling out the form, as mentioned briefly before, if you are required to provide certain documentation, be sure you do, or you will face delays if not also being declined. Otherwise, you are ready to efile form 7004. The application should be processed within a few days and the return on whether or not you are accepted should be soon after that, if not immediately. More about Tax Extension:

Tuesday, 29 October 2013

What do Nonprofits Need to Know about Nonprofit Tax Form 990n?

As a non-profit organization, you may not have to file and pay any federal taxes, you will have to file an information form with the IRS each year through form 990n. This form allows the IRS to know about your organization and the activities that take place each year. It is important that you learn and understand all you can about these forms.

Source Flickr
What is a Form 990?

This is an information based tax form that tax-exempt organizations are required to file each and every year. When this form is filed, it is then presented to the IRS as a form of an overview of the organization’s activities; it is an in depth financial report that allows the IRS to know that your organization is still within its rights to be considered tax-exempt.

Who has to File a Form 990?

  •        Typically those that are larger nonprofit organizations or those that have gross receipts of $50,000 or more are require to file a Form 990 or 990-EZ
  •      Small nonprofit organizations that have gross receipts of $50,000 or less are required to file a form 990 electronically that are known as a Form 990-N so that they can maintain their tax-exempt status.
  •      Nonprofit Organizations who are tax-exempt according to Sections 501(c), 527, or 4947(a)(1) of the U.S. Taxation Code, and who are not included in the exemptions that are listed below.

What Nonprofit Organizations are exempted from filing a Form 990?

  •     Churches
  •      Subsidiaries of Other Nonprofit Organizations
  •     Nonprofits that not in the System as of Yet
It should be noted that if you are an incorporated nonprofit organization in the state in which you reside but you do not plan on applying to the IRS for an exemption status from the federal income tax you will not have to file a Form 990n.

It must also be noted that if your organization makes claims to be tax-exempt and it has intentions to file with the IRS by the end of the 27th month you are in business for you are required to file a Form 990 or 990-EZ or 990-N whichever is deemed appropriate during the 27 month period you are in business; this is of course to be under the understanding that even though an application has not been submitted to the IRS nor has a determination been received.
  •  Religious School
  • State institutions
You should know that some state institutions are exempted from this because they provide the essential services that people seek.
  •     Government Corporations
There is a lot to understand about and remember of the Form 990. It would be in your best interest to seek professional guidance from a CPA or another tax advisor that can help you to understand what you should know and how to maintain your tax-exempt status. With his or her help, you can ensure that you will always be up to date on the important tasks you need to perform for your nonprofit. 

Call 703-229-0326 or visit http://www.Etax990n.com/ to start filing your form 990n Today!

Thursday, 24 October 2013

The 4868 Tax Form Explained: FAQs Answered

Tax Season, one of the most frustrating and stressful times of the year and for the first time ever, you have to file for an extension but you have no clue what it means or even how to go about doing it; which means even more frustration and stress but there is help for you, right here! Continue reading to learn more about the 4868 Tax Form and how it is considered to be one of the easiest forms you will ever fill out pertaining to your taxes. Official Name for Form 4868

Source Flickr

What is the Goal of this form?

The 4868 form is typically used to apply for a 6 month extension to have more time to complete your taxes and get them filed.

What are the qualifications for an extension?

In order to get an extension for your taxes to be completed and filed, all you really have to do is:
1. Properly estimate your tax liability using the information that is available to you
2.  Enter the total tax liability on line 4 of the 4868 form, and
3.  File the 4868 form by your regular due date of your tax return.

When should an extension be filed?

You must file your 4868 form by April 15th. For those who are fiscal year taxpayers, you are required to file a 4868 form by your regular due date of your tax return.

I will be out of the Country on April 15, what do I do?

While you are out of the country and a US citizen or resident of the US, you are actually allowed up to 2 extra months to file your return as well as to pay any amount that may be due without filing an extension form. In the event of a calendar year return, which is typically in June, you can file a 4868 form; ensure that you have checked the box on line 8 if you need 4 months more to file your tax return.

Take note, if you are out of the country and you a US citizen or resident, you have the option to qualify for a special tax treatment in the event you meet the foreign residence or presence tests that are available.

What does ‘out of the country’ mean?

You are out of the country if:

·        You live outside the United States and Puerto Rico and your main place of work is located outside the United States and Puerto Rico, or

·         You are in military or naval service that is located outside the United States and Puerto Rico.
Take note that if you do qualify as being ‘out of the country’, you are still eligible for the extension even if you found yourself physically present in the United States or Puerto Rico on the usual due date of your return.

What ways can I file for an Extension?

There are 3 ways to place a request for an automatic extension to file a US individual income tax return.

1. You can file Form 4868 electronically by accessing IRS e-file using your home computer or by using a tax professional who uses e-file.

2. You can pay all or part of your estimate of income tax due using a credit card.

3. You can file a paper Form 4868.

Thursday, 17 October 2013

Form 1099 Types and How you can File Online

There are different types of form 1099 available, the most common one is 1099-misc, checkout http://www.Etax1099.com to findout more.

Pay your IRS HVUT Taxes Online and Avoid complications

Pay your IRS HVUT taxes online and Avoid complications by filing your form 2290 tax on-time through Etax2290.com. Penalties on failing to pay your taxes are expensive so do not try to avoid paying your taxes.

Monday, 30 September 2013

How to Handle Truck Registrations When Filing Form 2290?

It is extremely important for owner-operators of heavy highway trucks to file their IRS tax form 2290. Most states will not let you register a heavy highway truck if the taxes on that vehicle have not been paid in full. The overdue balance is also subject to high interest rates, fees, and criminal imprisonment. The Federal government is very serious about finding out whether or not your form 2290 has been filed. You will not be issued a new registration if your taxes have not been taken care of properly. The state also has the right to revoke registrations on vehicles that have been registered prior to payment being due, if that payment is not received by the Department of Treasury by the date it is due. If this happens, you could lose time and money because you will not legally be allowed to operate your heavy highway vehicle.

If Your Heavy Highway Vehicle Registration is Due

One of the items that the tax office employee will do is check to be sure that your taxes are filed and paid in full. The county tax office will not issue your vehicle registration if the taxes have not been paid before you go to the registration office. You need to make sure your taxes are filed correctly and paid before you go to register your heavy highway vehicle. Your IRS paperwork should be up to date and you should bring the paperwork with you to the registration office so a tax office employee can certify your taxes are correct and filed with the state. 

When Your Heavy Highway Vehicle Registration Is Not Due

The vehicle registration office will check a database to see if your taxes are due for your heavy highway vehicle before they let you register that vehicle. If you previously paid your taxes in August the record will show that you are current with your tax obligations. The registration office will register your vehicle without a problem. As long as you have paid all the taxes for your heavy highway vehicle by August 31st of the registration year and your registration is due before you are required to file your taxes the following August, you may proceed to the vehicle registration office without any tax paperwork.

Registering a New Heavy Highway Vehicle

If you purchase a new truck and need to register it for your business, you need to file form 2290 before you go to the vehicle registration office. If you have not filed the tax paperwork that you need to give to the registration office, you will not be able to register your vehicle. It is best to file form 2290 before you go to register your heavy highway vehicle. Owner-operators are required to make sure their accounts are always paid in full to avoid having your vehicle registration suspended.

Friday, 6 September 2013

Understanding the Form 1099-Misc

The IRS 1099 Misc form needs to be filled out if you have certain, specific types of what is called miscellaneous payments to non-employees, like independent contractors. It also covers payments you make for certain types of business transactions where a middleman is involved. The form is filled out by the person making payments to you and must be included when you file your income taxes in April.

When to Use the IRS 1099 Misc?

If you have paid an individual or service provider at least $10 in royalties; over $600 for rent, prizes, awards, services, medical payments health care payments; any payments for the proceeds from a fishing boat; or any payments of over $600 to an attorney, you must file a 1099 Misc. You also need to use this form in you have made a sale of $5,000 or more to a buyer who will be reselling your goods. Note that personal payments are not to be reported on this form. Some of the forms of compensation that must be reported on this form are payments to non-employees, professional fees, payments by attorneys to witnesses, payments to non-employee entertainers, referral fees, and exchanges of services between two businesses.
(More information: https://www.Etax1099.com/)

Courtesy FLICKR

This form is only for reporting payments made by you in the course of your business dealings. The IRS’ instruction form breaks down not only all the items that you must report via this form, but it also notes all the exceptions and the various types of payments that should be reported. Those that should not be reported by you at all are also included.

Filing the IRS 1099 Misc Online

You must send 1099 Misc forms to those you have made payments to by January 31st. Further, you must then file the forms with the IRS by March 31st. These completed forms must also be filed with the state tax agency. The filing dates for state agencies vary, so you need to check with your state’s tax agency to ascertain the date. The fastest and easiest way to take care of these forms is to file 1099-misc online.

Currently, it is recommended that you complete filing of the IRS 1099 online. To do so, you will need to have software that allows you to scan in the completed forms for transmittal to the IRS. The preferred system for filing the IRS 1099 online is the Filing Information Returns Electronically System (FIRE System), provided at the IRS website. This system is available to you at no charge, and it can be accessed seven days a week, 24 hours a day.

When you file 1099-misc online, and in a timely manner, you are establishing a good way of staying on top of your payments to independent contractors and other non-employees that you do business with, whether occasionally or on a regular basis. Filing it electronically (online) makes it easier for you or your accountant to stay on point with your reporting activities each year. It also eliminates the need for extra cover/transmittal forms for each group of 1099 Misc forms you file.

Thursday, 22 August 2013

Exemption of Trucks From Filing Highway Heavy Use Tax 2290

Heavy Vehicle Use Tax, which is also known as HVUT can be defined as the annual fee taken from heavy vehicles for their transportation on public highways. It is applicable to all the heavy vehicles that have a gross weight of 55,000 pounds or more. All the truck drivers who fall into this category should pay taxes to the Internal Revenue Service in order to stay away from punishments. They should file it accordingly and e-file or hand the form manually to the IRS. Some nightmares are also available for the truck drivers in this category. For example, people who don’t make the payments before the due date will have to pay a huge penalty fee and experience a lot of trouble.

courtesy: quarterdeck/

Fortunately, the IRS provide tax exemptions to several groups of truck drivers. These groups include Mass transportation authorities, Indian tribal governments, nonprofit volunteer fire departments, the American Red Cross, Ambulance associations, the federal government, rescue squads and state or local governments that include the district of Colombia.  These groups provide a service to the society and they are exempted from taxes in recognition for that service.

Along with this, the ordinary truck drivers can also enjoy tax benefits from the IRS. In order to be eligible for these tax deductions, you need to fulfill several criteria. These tax benefits are offered for all the truck drivers who work as qualified blood collector vehicles, vehicles that are not qualified to be highway motor vehicles such as non-transportation trailers, agricultural vehicles that travel less than 7,500 miles per year and commercial trucks that travel less than 5,000 miles per year. However, you need to notify this to the IRS through your 2290 tax form, or else you will not be able to enjoy the benefits.

If you are a truck driver who is eligible to receive the above mentioned tax benefits, you can mention it when filling the 2290 tax form. It is always recommended to get professional advice if you are not sure how to do it. That’s why you need to select a website with a customer support service, in order to e-file your 2290 tax form. If you are filing it manually, you can send a notification to the local department of motor vehicles. 

However, if you accidentally exceed the mileage threshold value, you will be required to pay taxes. In that kind of a situation, you need to understand and pay the required amount of taxes under the amended return 2290 tax form. The 2290 e-file service providers offer a variety of convenient features to make these amendments with less hassle. For instance, some websites have a separate check box, which you can use to make required amendments. Usually, the due date to pay taxes are on 31st of August and you must make necessary arrangements to pay it before the due date in order to stay away from penalties. 

Click Here File Your Form 2290

We provide LIVE SUPPORT via Phone and Email

Phone: 703-229-0326
Email: support {at} tax2efile.com

Monday, 5 August 2013

What Are The Due Dates For Form 2290 Annual And Partial Tax Periods?

The IRS Form 2290 is one of the most important pieces of legislative mandates which affect truck operators directly. As the IRS classes any vehicle which weighs above 55,000 pounds as heavy, it requires all operators who use them on public highways to file for Form 2290. One important consideration is the time period within which the Form 2290 is to be filed. Failure to file the form 2290 within the specified due dates can lead to penalties which can, in turn affect a truck operator’s or a company’s credit scores.

2290 tax filing dates

How Does the Taxation Period Work?

Usually, the annual IRS 2290 filing period starts on July 1st and concludes at June 30th of the next year. Vehicles which are already being used at the beginning of the tax period need to be filed before August 31st. The due date for a partial period return depends on the month the vehicle was used first in. If you acquire any new taxable vehicles on a public highway during months other than July, then that vehicle needs to be filed for form 2290. Such vehicles must be filed by the last day of the month following the month the vehicle was first used on a highway. All taxes need to be paid in full and in advance.  

Form 2290 Due Dates - 2013 - 14

Remember that these dates apply regardless of whether you are paying the tax or reporting a suspension of tax. Always pay your form 2290 taxes on time in order to avoid interests and penalties.

Month Vehicle Was Used First In
Due date
July 2013
03 September 2013
August 2013
30 September 2013
September 2013
31 October 2013
October 2013
02-December 2013
November 2013
31 December 2013
December 2013
31 January 2014
January 2014
28 February 2014
February 2014
31 March 2014
March 2014
30 April 2014
April 2014
02 June 2014
May 2014
30 June 2014
June 2014
31 July 2014

These form 2290 due dates should help you plan out your filing better, so keep them in perspective. Now, given the penalties at stake, it would be wise to make IRS 2290 filing as quick, effortless and efficient as possible. These days you can use online software providers dedicated to helping you with your IRS 2290 filing. E-Filing as can allow you to file your form 2290 in a matter of minutes, besides you can also keep a complete personal, business and vehicle profile online which you can access from anywhere in the world. Submitting a completed form 2290 to the IRS can be done instantaneously and you will receive your Schedule 1 just as quickly. 

Finally, you can also make amendments, add or subtract taxable vehicles immediately rather than having to start the whole process over again. Simply put, form 2290 due dates will never again be an issue. Give e-filing a shot, it is by far the easiest way for IRS 2290 filing to date!

Thursday, 1 August 2013

Form 2290 Truck Tax for JULY 2013 - JUNE 2014 Walk-through For First Time Users of Etax2290.com

The due date for e-filing your 2290 HVUT is August 31st. All registered users must visit http://www.Etax2290.com and click on "returning users" to get started. You will receive your Schedule 1 shortly upon completion

Tuesday, 16 July 2013

Save Time e-filing IRS Form 2290

The IRS Form 2290 is a tax instrument that every trucker and heavy vehicle operator needs to file if they are using the public highways. However as most of such businesses involve gruelling hours and have a plethora of issues to tackle on a daily basis; it would help if there was an easier way to file the IRS 2290 quickly and painlessly. Fortunately, the IRS’s e-filing allows you to do just that.

Image credits: janney.tsefiling.com

What Is The IRS Form 2290?
The nation’s roads require a lot of maintenance which in turn needs to be financed properly. As trucks and other heavy vehicles, due to their sheer weight cause a tremendous amount of damage to the highways, they need to pay their due in helping the Government keep them in good working condition. The IRS 2290 Form is implemented especially for vehicles which exceed 55,000 pounds in weight and use the public roadways.

The form requires the vehicle operator to fill in his personal information as well as information about his business and the number of vehicles that he operates complete with their weight. Once the IRS receives your Form 2290, it will send you a stamped Schedule 1 as proof of transaction which you can then use to register your vehicles with the Department of Motor Vehicles (DMV) as well as insurance companies. The whole process generally takes about 1 to 2 weeks to complete.

E-Filing Form 2290
The IRS realizes that many trucking companies with a lot of trucks can use a simpler process which is why they also have an online e-filing service with which you can file your IRS 2290 form in a matter of minutes rather than days and receive your stamped IRS schedule 1 just as quickly via email. With e-filing, you can create an online account and input all your personal, business and vehicle information where it will remain securely in one place. You can change and add to this information whenever you like and simply submit the form on the due date.

E-Filing has many advantages; firstly it helps you keep all your information in an easy to access online resource. Next, filing the IRS 2290 form also takes no more than a few minutes and you get your completed IRS Schedule 1 back just as quickly in a digital format which you can then print out. Finally, if you ever make a mistake while filing the IRS 2290 form, you can simply enter the corrections online and file again; your corrected IRS Schedule 1 will be returned to you just as quickly.

The IRS also requires all companies and organizations which operate over 25 heavy vehicles to use their e-filing as it helps to process the taxes quickly and efficiently. While this is mandated law, many truck owners who do not use as many vehicles have also willingly opted for this service as by their own admission, it has made paying their taxes a lot easier.

With e-filing, you can file your Form 2290 in no time at all, besides a system such as this helps you keep all your tax information in one place. Try out the Etax2290's IRS e-filing services, it is sure to make your life a lot easier!

Wednesday, 26 June 2013

IRS Form 2290 - Walk through of ETAX2290 HVUT Registration 2013-14

Here's an overview on how to file your tax form 2290 for the year 2013-2014 through an IRS approved e-filing service provider. Visit http://www.Etax2290.com to know more and file your returns..

Source: http://www.youtube.com/watch?v=Hx6ugpuDKTA

Monday, 17 June 2013

Form 2290 Filing Chart

Here's a chart which shows you how and when to pay your form 2290 taxes for the year 2013-14.

Thursday, 13 June 2013

Form 2290 - Heavy Highway Vehicle Use Tax Return

If you are a trucker and your vehicle is classified as a heavy highway vehicle and is driven on public roads you need to file form 2290 to receive your Heavy Highway Vehicle Use Tax return.

The easiest way to complete your tax return is to e-file. This allows you to enter all your information electronically, pay whatever fees you incurred and receive your actual return. This can be completed with a laptop so you have the convenience of completing your 2290 form on the road.

The first bit of information you need when filing your 2290 form is your Employer Identification Number (EIN). If you don't have that number when you e-file your can click the EIN link on www.irs.gov and they will assign one to you. This process can take up to two weeks for them to give you an EIN if you don't have one. When you e-file, be sure that you use the same name you used when you applied for your Employer Identification Number.

IMG Src: flickr.com/photos/quarterdeck/

Why do you need an EIN? The IRS needs a system for protecting your privacy and making sure they know the identity of everyone that files a form 2290. They use your Employer Identification Number and your name as a way to identify who you are. Once you have e-filed a return, if these two bits of information don't match, your return will be rejected and cancelled.

If you own more than one heavy vehicle you must list every truck's vehicle identification number (VIN). The gross weight for each vehicle must also be listed on your form 2290.

Before you e-file take a minute to research on the software providers. Their services and special offers can vary a lot, so do some research and get the best deal. If you need help narrowing down that list for completing your form 2290, I suggest you visit the IRS.gov page where they have compiled a list of 2290 e-file partners.

Your last step when you e-file your form 2290 is to file and pay your excise tax. After you have chosen your software provider follow all the prompts to file your return. Ensure all the information is accurate. You can pay your funds using electronic funds withdrawal, (direct debit) or by using the electronic federal tax payment system. (EFTPS)

There are three types of amendments that can be filed electronically if any of your truck information changes. If you have an increase to taxable gross weight, you will need to notate the month it increased so you can accurately calculate and report the difference to the IRS. If you have the need to correct any VIN information. Lastly, if a suspended vehicle exceeds the mileage use limit during any period you need to report it to receive your corrected schedule 1.

When you e-file your 2290 HVUT you are able to electronically enter your information. You are also provided with a list of software providers. E-filing also allows you to receive your return faster. It simplifies the process and saves you time. Visit http://www.Etax2290.com to file your form 2290 returns conveniently.

Thursday, 6 June 2013

What is Form 2290 and How Online IRS Tax filing happens?

Once you go through this article you will have an idea about the Form 2290. With this assurance, we will try to explain about Form 2290.

Form 2290 is also called as Heavy Vehicle Use Tax Form or IRS form 2290. The names are different but the form is a standard form and the purpose is to file tax returns of heavy vehicles.

Form 2290 is controlled by IRS (Internal Revenue Services), which is entity of US Department of Treasury. It is a Government body that will collect the excise taxes from the Heavy vehicles owners who use the highways which are maintained by the IRS.

Don’t panic, not all the Truck owners have to be compulsorily pay the tax amount to IRS. Only those vehicles which are weighing more than the 55,000 pounds or more (Gross weight), will have to file form 2290 to IRS and pay the tax amount.

pay form 2290 online

Taxation period -

The usual taxation period is starting from 1st July to 30th June every year. People who are liable to pay tax, should pay within the tax period. The criterion is the tax should be paid in the month when the vehicle is first used. If the purchase of the vehicle and its first usage falls on the regular tax year’s first month i.e in July, you have to pay the tax for the entire tax period. If the purchase of the vehicles happens in any of the month after July, you need to pay the tax at the month when the vehicle is first use, but the tax amount need to be paid for the remaining left over taxation period.

If anyone fails to pay the tax on time, the IRS will send out a notice prescribing the penalties to pay. These penalties need to be paid separately to IRS.

Important Information’s required for filling up form 2290 -

Online IRS Tax Filing is the easiest way for paying the tax amount to IRS. You should have all the important details like Truck Details, business details, Bank account number (If you are opting for direct debit option). Business details should have information such as proper name of the business, Employer Identification Number(EIN) and the address of the firm. IRS will not accept the SSN information for completing the form 2290 while Online processing. If the EIN is not available, you need to apply to get it or else you should go for the paper filing option.

Tax Payment to IRS can be made by 3 options:

1. Direct Debit - This is very convenient mode of payment. The tax payers only need to give the account details in the form 2290. IRS will collect the tax amount directly from the tax payers account.

2. EFTPS - This is the secured online payment option available with IRS. Paying money through online transaction. Easiest mode of payment.

3. Check/Money order – This is for the paper filers and not the recommended mode to make the payment since the payer need to file personally visiting to the IRS office.

Payment Acknowledgement -

After the Tax payment, the IRS will issue the proof of tax receipt and it is called as Schedule 1. This schedule 1 will be issued by IRS for the truck owners which can be used to register the vehicles in any of the states in US.

Credits claims -

If at all if the truck owner is eligible for any credits, he can directly approach IRS. The credits cannot be claimed by form 2290, for that there is another form called form 8849. Form 8849 is a credit request form and this can be filed along with the suspended vehicles filing or with the taxable vehicle filing.

Filing Medians -

Not so familiarized with the filing processes?? Nothing to worry, just contact Etax2290.com for any sort of assistance in Online IRS Tax Filing.

Wednesday, 5 June 2013

Infographic On The Tax Related Identity Theft

Report shows that Tax related Identity theft is growing at an alarming rate and 21 units of the IRS deal with different aspects of Identity Theft. Src: IRS.Gov

Etax 2290 - Authorized IRS e-file Providers help for truck owners to file their form 2290 with our any hassles and issue Schedule 1 within minutes. 

Monday, 3 June 2013

2290 IRS Tax Form - Read Out the Concept and Understand the Need

Form 2290 or 2290 IRS tax form or Heavy Vehicle Use Tax are all same and all the terms represent the standard form of Internal Revenue Service (IRS), which is used to pay the heavy vehicle tax. The truck owners will be eligible for paying the tax only if the vehicles which they own come under norms of IRS 2290.

It is compulsory that the truck owners who come under the tax limit should pay the tax to the IRS without fail. All the heavy vehicle owners need to file the tax returns by filing 2290 IRS tax form. If anyone fails to pay tax, the IRS will send out a notice to them along with claiming penalties. If notice is received, then the owners need to pay the penalties by filing separate 2290 form. So the truck owners need to be attentive and should pay the tax without fail during the tax year.

The excise tax is controlled by the IRS (Internal Revenue Service) of US Department of Treasury and they are responsible to track all the vehicles that use the highway across US. They have all the rights to demand the excise tax of the vehicles.

heavy vehicle truck tax
IMG source: /http://www.flickr.com/photos/quarterdeck/

Heavy Vehicles Truck owners’ responsibility -

When we say about the form 2290, not all the truck owners need to pay the tax, only those whose vehicle gross weight is more than 55, 000 pounds or more. Any heavy vehicles which weigh less than the said figure, for instance even if the vehicles weighs 54,999 pound, the owners need not pay the tax. The owners have to take up voluntary responsibility of paying the tax to IRS of Heavy vehicles which comes under the form 2290 tax window. Truck owners may be individual or corporation or partnership or Limited company, all need to pay the tax to IRS.

The tax year will start from 1st July to 30th June. If the vehicle is purchased in July, the tax can be paid as per the normal tax schedule, if the vehicle is purchased after July, the tax will be counted from the month when the vehicle is used first. 

Payment of Tax -

Form 2290 Electronic filing is the best mode of payment of the tax to IRS. The benefit of the E-File is the tax filers need not have to wait in a queue in IRS office, they get the proof of payment i.e. schedule 1 in minutes.

This has got many advantages, where the online system checks out the error in the filing and gives the feedback in minutes. Fast approvals and accurate data processing is the beauty of the E-filing. 

Copy of Schedule 1 which is stamped by IRS will be used to the Truck Owners to register their vehicle in any state in the US. 

Ignored Entities - Form 2290 truck tax 

The Qualified subchapter S Subsidiaries (QSubs) and the eligible single-owner ignored units are treated separately for filing IRS form 2290 and reporting the purposes for form 2290. Even they need to pay tax but they can claim the credits, refunds and any payments based on the entities employer Identification number (EIN). They should never file 2290 based on the owners TIN. Always keep EIN and TIN details which will be helpful in filling the form 2290. 

If the owners have purchased the vehicle from the others, they need to even pay the tax for the remaining tax year of the vehicle. They cannot use the previous owners IRS form 2290, they need to file separately. 

There are many things to understand the needs of form 2290 electronic filing and the nuances of 2290 IRS tax Form. Don’t get distressed, contact us and transfer all your worries of E filing to us to take care.

Tuesday, 28 May 2013

The Different Payment Options That Are Available For IRS Form 2290 eFile

Being a truck owner in the USA, it’s a self-responsibility to declare the tax returns for the usage of the heavy vehicle trucks in the highways. A person in US really feels the responsibility and will come forward to file form 2290 but they really lack the information on the payment options available to pay the tax to IRS. There are easy online filings and the paper filing options, out of which E-file IRS form 2290 is the effective one which is the online based linked to the IRS. Electronic filing will really give you a best service and value added service in filing your Heavy Vehicle Usage Tax form 2290. Don’t get panic; if your due date to file the tax is coming closer, there is a faster solution online.
Few points to keep in mind when you do the e filing -

1. Do remember to review the Federal Tax ID Number or EIN [Employer Identification Number].

2. Do always double check your business name.

3. Keep a checklist to review the Tax year and Month which is applicable to your vehicle.

4. Do review your vehicle’s VIN (Vehicle Identification Number).

5. Do not forget to sign and date your returns electronically.

6. Choose the best IRS payments available.

7. Review thoroughly all the information’s, once entered.

8. Considering all the above tips, E-file IRS form 2290.

image source: irs.com
Which options are available to pay tax?

As informed there are many options which are available with IRS to pay the truck tax, in other words to E- File IRS Form 2290. The options are given below -

1. Direct Debit Options (Electronic Fund Withdrawal) - If you opt for this option while filing the form 2290, you need to give your account details as well. This will help IRS to collect the tax amount directly from your bank account.

2. EFTPS (Electronic Federal Tax Payment System) - To use this option you need to enroll first in the website www.eftps.gov . Once you get registered, you will be eligible for making the payment.  To payment should be on time and need to be paid at least 1 business day before the due date.

3. Check or Money Order - This is only for the papers filers. Our IRS accepts the checks and the Money order if it is scheduled by 30th. For the Canadian citizens this option is been advised by us as EFW (Direct Debit) may not work for them.

Just keep in mind that if you choose Direct Debit options as payment methods, your IRS form 2290 E file application will not be processed during the weekends or on national holidays rather it will be processed on next business day.

Special note - Do always double check TIN while return filing. Always review your return before submission. If we were contacted, we will explain all the needs of E file and the nuances involved in it. Our staffs will clarify all your doubts regarding the IRS form 2290 E file. Contact us today and experience the difference.