Even though we are an expert in your field, when it comes to filing Heavy Vehicle Use Tax (HVUT) Form 2290 we tend to make mistakes. So let us check out those repeated and common Form 2290 E-filing mistakes, in order to avoid them in this tax season.
Common Mistakes to Avoid in HVUT E-Filing
Incorrect EIN or VIN:
While filing Form 2290, Employee Identification Number (EIN) and Vehicle Identification Number (VIN) are vital. Make sure that you provide the correct EIN and VIN when submitting the IRS 2290 Form. If any of the letters or numbers in EIN or VIN goes wrong or misplaced, then it is considered as an invalid number and Form 2290 is rejected by IRS. But what can be done if the Form 2290 is rejected? No worries Tax2efile can re-file your rejected IRS Form 2290 for FREE.
2. Errors in Computation:
Tax calculations are always a hard job and need some assistance. Even when we try hard to make up the computations for your tax, at times it ends up in errors. In such cases, the Tax2efile system helps you in those complex calculations and tax returns you can then pay the amount with no errors. So that you can minimize the errors while filing your heavy highway vehicle use tax.
3. Inappropriate Filing Status:
As an owner of your heavyweight vehicle and as a taxpayer of IRS 2290 Form online you need to know whether your vehicle is going to travel fewer than 5,000 miles during the tax year on public highways. In that case, you must file your vehicle as suspended. And when you exceed the mileage limit, you can submit a 2290 amendment.
4. Incorrect Filing Year:
While pre-filing your Form 2290 online, often we may select the current year instead of the advanced year. So it is better to double-check the tax filing year before submitting the IRS Form 2290 online.
5. The Problem with EIN Registration:
People with new EIN come across this problem often. Remember it takes about 10 business days to update your new EIN into the IRS system. So before starting your file Form 2290 online, ensure your EIN is valid enough to apply. And importantly IRS must have activated your EIN before your file.
6. Inappropriate Vehicle’s First-used Month:
The confusion comes with the Vehicle’s first used month and the related filing. The tax year for Heavy Vehicle Use Tax (HVUT) starts from July 1st every year. Hence renewals for all the vehicles, first used month is July automatically even the taxpayer files in August. This could differ when the heavy vehicle is purchased after the start of the tax year.
For instance, if you have purchased a truck in October, then the first used month of the vehicle is October itself. We have listed 6 most common HVUT or Form 2290 e-filing mistakes. These mistakes can be easily avoidable when we double or triple check our IRS 2290 Form. Yes, there is no harm in checking, and if Form 2290 is rejected for some reason, it can be re-filed through Tax2efile.com FREE of cost.