Wednesday, 26 August 2020

How To Prepare For The Form 2290 Online Deadline

 

To file your Form 2290 Online quickly, you will need several pieces of information on hand. Be sure to gather the following items before e-filing your Form 2290 (unless you have already e-filed with Precise2290)

What you will need to file Form 2290 Online

Business information

You will need to have the most accurate and up-to-date information about your business on hand. This includes the business type, business name, business address, and EIN.

EIN

Your Employer Identification Number (EIN) is like a Social Security Number (SSN) for your business. As a trucker, it is the only form of identification that the IRS accepts for Form 2290 Online Filing. 

If you do not have one, you will need to apply for one. You can do that at this link, however, be aware that new EINs typically take 10+ business days to become active.

Vehicle Information

You will also need information about each one of the vehicles you are filing for. This includes First Used Month (FUM), Gross Taxable Weight, and VIN number. 

Fortunately, if you are filing for lots of vehicles, we also have a bulk upload feature that makes this process simple. 

FUM

Your vehicle’s First Used Month, is, clearly, the first month you began using the vehicle during the tax year. Your Form 2290 Online will be due at the end of the month following your FUM. So if you began using a truck in 1st July, your Form 2290 will be due at the end of 31st August.

If you are renewing a truck that you have been using for a year or more, the FUM will be July.

Gross taxable weight

The gross taxable weight of your vehicle is a sum of the following information:

1. The actual unloaded weight of a fully equipped vehicle.

2. The actual unloaded weight of any trailers or semi-trailers that is fully equipped and is generally used in combination with the vehicle. 

3. The weight of the maximum load usually carried on the vehicle and the trailers or semi-trailers. 

Learn more about Gross Taxable Weight here.

VIN

The Vehicle Identification Number on your truck serves as a unique identifier for your vehicle. It is important to get the VIN exactly correct on your Form 2290 because one of the most public reasons for the IRS to reject your Form 2290 is because of a duplicate VIN number filing.

Also, if your VIN is wrong, you will need to correct it for your stamped Schedule 1 to be accurate.

File your Form 2290 Online today!

The Form 2290 Deadline 2020-21 for most truckers is one week away! It takes less than 5 minutes to file your 2290 if you have all your information on hand.

 

No comments:

Post a Comment