Essential filing requirements for heavy vehicle use tax (form 2290)

Any business that is into trucking industry or an individual owning a truck or fleet of trucks weighing 55000 pounds and above has to mandatorily file heavy vehicle use tax using form 2290 with internal revenue service. One such IRS e file service provider who can do your form 2290 filing in a quick, convenient and secure manner is greentax2290.com

Now let’s take a look at some of the requirements which are obligatory to file heavy vehicle use tax:

Employer Identification number (EIN) – An Employer Identification Number (EIN) is also known as a Federal Tax Identification Number, and is used to identify a business entity. Generally, businesses need an EIN. EIN is corporate equivalent to social security number and is applicable in United States.  If you are eligible to pay heavy vehicle use taxes and you don’t have an employer identification number, in that case you can apply for one online.

Vehicle Identification number (VIN) - A Vehicle Identification Number, commonly abbreviated to VIN, is a unique 17 digit serial number used by the automotive industry to identify individual motor vehicles. In order to electronically file heavy vehicle use taxes, you need to have individual VINs of the vehicles you plan to file HVUT taxes for.

Taxable gross weight- The taxable gross weight of a vehicle is the total of:

·         The actual unloaded weight of the vehicle fully equipped for service,

·         The actual unloaded weight of any trailers or semitrailers fully equipped for service customarily used in combination with the vehicle, and

·         The weight of the maximum load customarily carried on the vehicle and on any trailers or semitrailers customarily used in combination with the vehicle.

The main determinant of the amount of taxes to be paid for the use of heavy vehicle on highways is the total gross weight of your vehicle. Hence, make sure that you mention the correct weight of your vehicle or you might end up paying less tax which might result in penalties or pay more taxes which would be a detriment to you.

Further ahead, it is also necessary that you should be aware of the mileage that you have travelled. This is because, although your vehicle weighs 55000lbs and above, but if your heavy vehicle has travelled less than 5000 miles (7500 miles for agricultural vehicles) then it would be considered as suspended vehicle and although you would have to file form 2290 but because your vehicle is suspended, hence you won’t be required to pay taxes. Imagine if you fine for 2290 form and also pay your taxes but later realize that your vehicle is indeed a suspended vehicle. Then wouldn’t you suffer loss?

Thus as an advice before filing form 2290 for 2011 or any previous year, always make sure you have the correct and up to date information in hand and if ever you make any mistake in your filing maybe you paid taxes despite your vehicle being suspended or entered the wrong Vin number, etc then greentax2290.com is always there to bring you out of such situations and if there is any refund that you are eligible for then greentax2290.com will also guide you with that.

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