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Trucking is a lifestyle, which most don’t understand. That is what each trucker think, when they’re busy driving the big rig. It is true that we need to step into their shoes to experience their part of life, but if we’re not able to do so, we need to respect the aspect of their being the unsung heroes. Dedicated truckers are not the ones, who drives their rig or follow the DOT and FMCSA rules or even making deliveries on time. It is all about how well you maintain your rapport with your duties and paying taxes on time. Form 2290 is the form which is to be filed and paid at the beginning of the tax year based on the miles and the gross weight you would carry. You Buy A Truck, You’re Tax Is Due: If you’re in investing your money in a new truck, then you’re liable to pay excise tax 2290. However, now that depends on when you bring your vehicle on the road and the due date would fall accordingly. Like say, if you had driven down in the month of December, then Jan 31st would be the last day to file your tax without penalty. Who is liable to Pay Heavy Highway Vehicle Use Tax? Heavy vehicles roll on public highway, causing damage to the roads as their gross weight is on the heavier side. However, every heavy vehicle does not require paying their due. According to IRS, the heavy vehicle trucks and semi trucks with the gross weight of 55,000 pounds or more should file their taxes through form 2290 on or before the due date, choosing any medium i.e. paper filing or e-filing to file and pay accordingly. When Do You Have To File Form 2290 Tax Return? Form 2290 HVUT is used to file Heavy Vehicle Highway Used Tax yearly if you cross the basic requirement, i.e. crossing 5000 miles and the Gross Weight measuring more than 55,000 pounds. Each truck you own, need to file under the form 2290 with their specific VINs. The tax year for the HVUT begins by July 1st and through June 30th of the following year. However, the tax season begins from June 1st and last till August 31st of the same year. Truckers’, who are liable to file HVUT form 2290, are likely to file during the tax season. Which Method Is The Most Apt For Paying Taxes For Truckers? When IRS initially started the process of tax, it started with paper filing and this trend is still sustaining its place. However, the technology is also moving in its own pace, introducing e-filing services as another method of filing tax. With this, many service provider like ThinkTrade Inc. made a strong place in the world of taxes and till date, sustaining its position. E-filing is one such method, which does not consume much of your time as well as let you edit how many ever times you want, without making it look messy. Another added advantage here was that, the service provider validates your form before it is sent across to IRS and if there are any errors, you can make changes almost immediately. Also, many service providers like Thinktrade Inc. also provide online service to customers, giving aid if they need any through phone and email. On a final note, truckers pay their duties through tax and it is important to serve the nation like the truckers do. Happy trucking and be safe behind the wheels!
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