Form 2290 or Heavy Vehicle Use tax is filed by owners of heavy-weight vehicles whose gross weight is more than 55000 pounds and who use the public highway for transportation during the financial year.
This Form 2290 is used in multiple ways such as:
● To claim credit for destroyed, sold, or stolen vehicles for which the tax has been paid previously.
● To pay the tax due which is acquired and used during the taxable period.
Purpose of IRS 2290 Amendments
Form 2290 Amendment is done under two scenarios. When you find an error in filing Form 2290 truck tax return, the tax filer must amend their return in order to correct the error. In other cases, if your vehicle information is wrong or changed from the previous Form 2290 then the 2290 amendment is a must in order to report to the IRS.
Requirements of Form 2290 Amendments
There are three types of amendments in Form 2290.
1. When there is an increase in the taxable vehicle’s gross weight.
2. When suspended vehicles exceed the mileage use limit.
3. When there is a need to correct VIN.
Increase in Gross Weight of Taxable Vehicle
When the gross weight of your taxable vehicle increase or falls under another category, after filing your heavy vehicle use tax return 2290 then you must report an amendment.
Suspended Vehicle Exceeding Mileage use limit
Mostly, you must have assumed that your vehicle will be used within the mileage limit of 5000 miles (7500 miles for the agricultural vehicle) on the public highway for transportation. In such case, you need to calculate the excess mileage which the heavyweight vehicle operated. And it needs to be added as an additional tax for the mileage increase using Form 2290 online and which is referred to as 2290 amendments.
If you have filed the VIN as an error in the previously filed Form 2290, then a VIN correction can be made to correct the mistake. This VIN correction can also be filed for taxable or suspended vehicles but is not applicable for vehicles that were suspended in a previous year.
Other Instructions for Filing Form 2290
1. Form 2290 must be filed for the tax period of July 1, 2017, to June 30, 2017, for all taxable heavyweight vehicles.
2. When you are filing for more than 25 vehicles, then it must be filed electronically.
3. In order to complete Form 2290 online, you need to provide the details of your Employee Identification Number (EIN), Vehicle Identification Number (VIN), and gross weight of each vehicle for which the tax has to be filed.
4. Check the Amendment Return option when you are reporting an additional tax for an increase in weight of the taxable vehicle and when the suspended vehicle exceeds the mileage limit.
5. When filing an amendment return, enter the increased gross weight in another case the exceeded mileage along with the month in the provided space next to the Amendment Return option on Form 2290.
6. File the Amendment Form 2290 and Schedule 1 by the last day of the month in which the vehicle exceeded the mileage limit.
These amendments are easily filed electronically through Tax2efile. Our expert team guides you to file Form 2290 tax return efficiently and quickly in minutes. Tax2efile helps you in filing VIN corrections for FREE. We process your application instantly and assure that you get your stamped Schedule 1 in minutes.