How to Renew Form 2290 Online for tax year 2021-22?

 

Every tax year many of truckers, trucking businesses and owner-operators make to file their heavy highway vehicle use tax. HVUT tax is reported using Federal Tax Form 2290. Users want renew their form 2290 Online by filing a fresh one every Tax year.

E-Filing your form 2290 and paying your tax is very important as you need to provide a proof of tax payment at the DMV to update your vehicle registration and tags. Observing to federal tax form also helps you avoid IRS penalties. 

 

Who needs to e-file?

 

Every owner-operator, trucker or trucking businesses who owns and operates a heavy highway vehicle needs to e-File Form 2290 Online and pay the HVUT tax. There are two conditions that vehicles need to meet to become tax eligible:

1.   Your vehicle must weigh 55,000 pounds or more (75,000 pounds or more for agricultural vehicles)

2.   Your vehicle must cross 5,000 miles limit in the given tax period (7,500 miles for agricultural vehicles) 

 

When do you file?

Form 2290 Online Filing tax season started from July 1st, 2022. You must efile your form 2290 online before the deadline of August 31st, 2021. If you want to file form 2290 for a new vehicle purchased after the month of August, you must file form 2290 on the last day of the month following the month of first use.

Otherwise, you can use the due date calculator tool on Taxseer2290.com where you can enter the first use month of your new vehicle and find out when your form 2290 is due. First use month is the month in which you used your vehicle on American highways for the first time.

 

 

How to renew form 2290 Online with TaxSeer2290.com?

 

Step 1: Login to your taxseer2290.com account using your email address. If you do not have an account, register for one.

Step 2: Enter your business name and address, EIN, ZIP code, city, state and country along with tax period, first used month, vehicle type, VIN, gross weight, and tax amount. Make sure that the Business Name and EIN match as per the SS-4 copy.

Step 3: Review the filing information before submission and select the mode of payment (EFW, EFTPS, Debit/ Credit Card, check/ money order) to pay the filing fees.

Step 4: Get IRS watermarked Schedule 1 on your registered email address. You can also download it from the dashboard.  

 

 

 

 

What happens if you don’t renew your form 2290?

The penalty for not filing Form 2290 on time is 4.5% of the unpaid taxes for each month; or part of a month that a tax returns is late. Penalty will start accumulating a day after the tax filing due date and will not exceed 25% of your unpaid taxes.

·        A failure-to-file penalty may apply if you did not file Form 2290 by the tax filing deadline.

·        The failure-to-file penalty is 5% of your balance due for every month (or part of a month) in which your taxes go unpaid.

·        You will not have to pay a late-filing penalty if you can show a sensible cause for not filing.