2290 tax season: Tips for truckers on filing 2290 Tax Form

The highway tax applies to highway motor vehicles that have a taxable gross weight of 55,000 pounds or more. This weight is the combined weight of trucks, trailers, and loads. Taxpayers can calculate and pay their taxes through debit or credit cards. They also over the phone, mobile device, or the internet. E-filing is the best way to e-file Form 2290 with the IRS, as they will get the stamped schedule 1 copy in their e-mail, in minutes. 

Tips for truckers on filing the 2290 Tax Form

Owners of heavy vehicles should file HVUT Form 2290 online by 31st August, to keep their trucks legal and avoid all penalties from the IRS. Some tips to pay the taxes on time and avoid all penalties are as follows.

  1. File Form 2290 and pay taxes within the deadline

The tax season for filing HVUT forms is between July 1st, 2022 till June 30th, 2023. The due date for filing the returns and paying taxes is 31st August 2022. If truckers put another vehicle on the road, during the tax period, they should file a new Form, depending on its FUM (first use month).

2. Keep all information ready:

To e-file Form 2290 for the truck, truckers should report much information. The best way to keep the filing process smooth is to have all data ready. It includes,

      • Information about the trucking business – business name, address, and EIN.
      • Employer Identification Number.
      • Vehicle Identification Number.
      • First, use the month of the truck.
      • The taxable gross weight of the vehicle.
  1. E-file the vehicle details in minutes:

It is mandatory to e-file Form 2290 if the trucking business has more than 25 trucks. But the IRS advises all those who file HVUT taxes e-file them. This makes it easy to complete the tax Form, without errors. Truck owners can e-file their tax returns through e-filing service providers with IRS approval, such as Tax2efile. E-filing Form 2290 with Tax2efile is easy and time-efficient. Taxpayers should enter their business details, the vehicle details, select the payment method, review the tax form and complete the process. E-filing also helps taxpayers get their stamped schedule 1 copy in minutes.

4. Make quarterly tax payments:

If you expect to pay more than $1,000 in HVUT taxes, it is better to make quarterly tax payments with the IRS. It helps avoid penalties and helps truck owners pay in installments throughout the year.

5. Take advantage of tax deductions:

Self-employed truck drivers can avail of many tax benefits, that are not available to those who receive W-2. They can get tax deductions if they have good records of their receipts.

Bottom Line:

The best way to file the taxes correctly and on time is to take help from professional tax filing agencies like Tax2efile. They will help avail of all available credits and deductions and save the record for future filings. Their customer support service is available at all times, for a hassle-free e-filing process.