Simple Guide To File Form 2290 Easily
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You must e-file your Form 2290 if you are filing for 25 or more vehicles, but we encourage e-filing for anyone required to file Form 2290 and who wants to receive quick delivery of their watermarked Schedule 1. With e-file, you’ll get it almost immediately after IRS accept your e-filed Form 2290
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start entering your business and vehicle details one by one. Answer couple of question and complete your return in minutes.
Mandatory Business Information required to Efile Form 2290
Registered Business name as per the IRS Records is a mandatory piece of information. Make sure that you do not use your DBA i.e. your Doing Business As name instead of your registered business name; it will result in an IRS rejection of your Tax return. Also have your type of business handy when you try to Efile your Form 2290. It can be a Sole Proprietorship, Partnership, Corporation or a LLC.
EIN: The Employer Identification Number (EIN), also known as the Federal Employer Identification Number (FEIN) or the Federal Tax Identification Number, is a unique nine-digit number assigned by the Internal Revenue Service (IRS) to business entities operating in the United States for the purposes of identification.
When a Federal Excise Tax payer E-files his/her Form 2290, EIN is Mandatory. The IRS matches the Tax payer’s EIN with his/her Business name & would reject the return if it does not match their Database. Another common reason for EIN rejection is that the EIN is brand new, which means the EIN must be at least 15 days old in order for it to be updated in IRS database.
So Form 2290 E-filers, make sure that you have your correct EIN & Business Name handy when you E-file Your Federal Excise Tax Form 2290 and also make sure that your EIN is 15 days old to avoid rejections.
Business Address: It is Important that you have your registered business address with you when you Efile your Form 2290 because, it will reflect on your Stamped Receipt that is your Stamped Schedule 1 copy. Your Business Address includes your Street Address, City name, State & ZIP code.
Signing Authority Details: Make sure you have the details of the Signing authority for the Business that you are attempting to Efile Federal Excise Tax Form 2290. Signing Authority Details include his/her Name, Title that is his/her position in the Business and the Signing Authority’s Day time Phone Number.
If you have any more questions or queries regarding Federal Excise Tax Form 2290 feel free to contact our Tax Experts @ +1-615-6013-983/ +1-972-8103-393 or write to them @ Email : support@Trucktaxonline.com. Do not hesitate to ping them using the LIVE CHAT Option on the website.
Choose Your Tax Year and First Used Month
The tax year for IRS Form 2290 starts July 1, 2017 of each year and ends on June 30, 2018 of the following year. Tax Form 2290 is filed based on the first used month of the vehicle. For example, if your vehicle was first used on public highways in September, you have until October 31 to file your 2290.
Enter Vehicle Information (VIN & Vehicle Weight)
Begin by entering in the vehicle identification number, or VIN, and enter the taxable gross weight of the vehicle. Then select the option if your vehicle is used for any special purposes, such as for agricultural use or logging.
IRS Payment Options
There are 3 ways through which a fleet owner or tax professional can make payment of highway tax to the IRS. We will accurately calculate how much Heavy Vehicle Use Tax (HVUT) you owe. Then you can choose one of the following options to pay that amount to the IRS.
Direct Debit or Electronic Funds Withdrawal(EFW): You can pay your balance due to the IRS via Direct Debit or Electronic Funds Withdrawal by authorizing the IRS to debit the amount you owe from your bank account. In order to allow the IRS to debit your account, you will need to provide your bank account number and routing number. This information can be found on one of your checks.
EFTPS (Electronic Federal Tax Payment System): The IRS accepts payments via EFTPS. To complete your payment using this method you will be directed to http://www.eftps.gov or you can call 1-800-555-4477 to create a free account. It may take up to 10 business days to create the account. You will be responsible for scheduling your EFTPS payment.
Check payment Check payments can be made payable to United States Treasury. To mail check taxpayers need to Include the social security number or employer identification number, tax period, and related tax form number. The check should be mailed to the address listed on the notice or instructions. Cash payments can only be made in person at a local IRS Office. Do not send cash through the mail. If you wish to contact your local IRS office please visit http://www.irs.gov/localcontacts/index.html.
Transmit Your Return to the IRS
E-Filing is transmitting Business Tax Returns to the IRS through the internet. Electronic filing is the safest, most secure and private way to send your tax return to the IRS.Once you E-file your return you receive an electronic acknowledgement that the IRS has accepted your return for processing. Once the IRS accepts your return, your schedule 1 will be stamped and sent to you.It will have the list of vehicles for which you have filed the return. The stamped Schedule 1 copy can be used as a proof of payment when registering vehicle(s) with the IRS.If there is any error in the data provided by you then your return may be rejected in which case you will not receive your Schedule 1.