When and How to Pay the 2290 Taxes Online?

May 30, 2013 | Publisher: chriskyle | Category: Technology |  

IRS Form 2290 – When and How to Pay the 2290 Taxes Online? What is IRS 2290 Form? IRS Form 2290 is used to file the Heavy Vehicle Use Return tax to the transport department in the United States. All the citizens of US, who owns the heavy vehicle truck of prescribed gross weight, will have to pay the tax. This tax is paid to use the Highways without any interruptions. If failed to pay tax, penalties are liable to the truck owners. When exactly form 2290 has to be filed? The Current Tax period to pay the form 2290 tax is from July 1 to June 30. Form 2290 has to be filed in each month when the taxable vehicle used first on public highways during the above mentioned tax year. Everyone should ensure the HVUT (Heavy Vehicle Use Tax) form is filed by last day of each month, following the month when the vehicle is used for first time. The rules are same whether you ask for a tax exemption by reporting the proof or you are paying tax. IRS will send out a notice to intimate the penalties, if you have failed to pay the tax. Penalties need to be paid separately to the IRS. The Tax payer need to gather the information such as the information regarding the business which they run, The truck details and the bank account details to successfully file the form 2290 through online. Business owners need to have the details like business name, EIN and the address details. All these are mandatory requirements for completing the IRS form 2290. If the EIN number is not available, apply for it to get it freshly which may take 10 days to arrive on electronic filing systems. If the truck owner doesn’t want to wait till he receives EIN, he can file it by visiting the nearest office by completing the form manually. If you are just worrying on how to pay the 2290 taxes online, there are two options to IRS tax filing. The first one is, the amount can be paid through the direct debit option which is the best and easiest way to pay the tax and the payment can also be made through EFTPS, which is the secured online payment system. The other option available is options are check payment which is only for papers filers. Direct debit gives you flexible option to fill in your bank accounts in form 2290, so that the IRS will collect the prescribed tax amount directly through back transaction. IRS currently accepts the check payments of those who wish to file electronically, so it is advised to always go for direct debit option. What is schedule 1? Schedule 1 is acknowledgement which IRS provides to the tax payers after paying the tax. This Schedule 1 will be useful for the truck owners in renewal process of their vehicles registrations tags at DMV. It is not correct to say that the IRS will withdraw the amount of tax on the same day when the schedule 1 is issued. IRS may even withdraw the amount of tax at the later date also. If the funds are not available at the date when IRS wish to withdraw the amount, IRS will send the notice to the tax payers to pay the said tax immediately. Is there an option available to report the payment credits through online IRS tax filing? Yes, there is an option available to notify the eligible payment credited through IRS form 2290. But for this IRS form 2290 cannot be used, but a separate form 8849 need to be filled as credit payment request. It is not allowed to report the credit request along with the IRS 2290 form rather it need to be submitted along with suspended vehicle filing or along with the vehicle filing. Image Attrib: http://www.flickr.com/photos/safari_vacation/

Article 4.docx


You must log in to comment

Dubai Escort Says:

Nice one thanks