NEENAH, Wis. — The annual filing period for IRS Form 2290, the Heavy Vehicle Use Tax (HVUT), officially opened on July 1, and J. J. Keller & Associates Inc. is helping fleets meet the Sept. 2 deadline with the top 10 helpful tips,.
“Filing Form 2290 doesn’t need to be a stressful experience,” said Steve Murray, executive vice president of professional services at J. J. Keller. “The key is understanding the requirements surrounding this tax that can get fleets in trouble if they’re not careful.”
Top 10 HVUT Filing Tips
- Make sure you have an Employer Identification Number (EIN): You cannot use your Social Security Number. Obtaining a new EIN can take a few weeks, so don’t wait until the last minute.
- File on time: Penalties and interest can accrue when taxes aren’t filed on time. Proof of payment is required when registering your trucks.
- Check your work: Quick checks can help prevent amended or corrected returns.
- E-file: Electronic tax filing is required if you have 25 or more vehicles, though smaller fleets can also benefit from the convenience and speed of e-filing.
- Use a trustworthy firm to help you file: Only trust an IRS-authorized e-file provider. Don’t fall victim to scams or unscrupulous third-party filers.
- Suspend the tax if you can: If operating a taxable vehicle 5,000 miles or less, you can suspend the tax. You’ll file the HVUT, but you pay no tax.
- Be sure to claim your credits or refunds: Credits can be claimed for vehicles that were sold, destroyed or stolen.
- Know when you might need to file again: Additional filings are required if you add a taxable vehicle to your fleet during the tax year.
- Know your options for payment: The IRS accepts electronic funds withdrawal, Electronic Federal Tax Payment System (EFTPS), credit or debit card payments, and checks or money orders.
- Keep proper records: Retain filing records for at least three years after the date the tax is due or paid, whichever is later.
Understand Where You Stand
Form 2290 must be filed each year for all vehicles that operate on public highways in the United States with a taxable gross weight of 55,000 pounds or more. Canada- and Mexico-based carriers are also responsible for paying HVUT for taxable vehicles operated in the United States.
“Making it easier for fleets to stay in compliance is what we’ve been doing for nearly 75 years,” Murray said. “With our 2290online solution, companies can file in just minutes and receive their stamped Schedule 1 typically within 24 hours. We’ve been an IRS-authorized e-file provider for over a decade, and our platform is backed by a team of compliance experts.”
In addition to offering e-filing, J. J. Keller now also offers a File-For-Me Service. According to Murray, this is a personalized, full-service IRS Form 2290 filing solution where J. J. Keller’s trained 2290 specialists manage every step of the process on a company’s behalf.
For more educational resources about Form 2290, or for more information about J. J. Keller’s 2290online, click here.
