The IRS published helpful guide for truckers

August 7, 20210

The Internal Revenue Service (IRS) reminds truckers of upcoming tax payments and offers weighty advice.

The deadline for filing and paying a tax return for the using of road vehicles (Form 2290), including trucks, is August 31st.

According to the IRS, anyone who registers a heavy vehicle 55 000 pounds TW or more in his name must complete Form 2290 and pay tax.

How to prepare the relevant information:

Employer identification number. If you don’t have an EIN yet, apply now; it will take about four weeks to install your new EIN on our systems.
Use the same name on your Form 2290 that was assigned to you with your EIN. Your name on Form 2290 must be same as your EIN.
Identification number of each vehicle.
Taxable gross weight of each vehicle. Use the tax calculation table on the second page of Form 2290 to calculate tax based on the taxable gross weight of each vehicle.

File

Е-file. Required if you list 25 or more vehicles on Form 2290, recommended for faster data handling; you can get Schedule 1 with watermarks within minutes. Make sure the watermark on your Schedule 1 is visible before sending it to your state motor vehicle department. This way you can avoid problems. You may need to use another ink to make the watermark visible.
Complete and mail Form 2290. Please refer the correct mailing address in the instructions for Form 2290. Expect to receive a stamped Schedule 1 within 6 weeks after we receive your Form 2290.

Making payment

You must pay up the tax after completing Form 2290.
Pay taxes using a credit or debit card; you can pay online, by phone or mobile device by sending your return by email or post.
Payment of funds in digital form.
Electronic system for payment of federal taxes; requires extended registration. New accounts require 5-7 working days.
Check or cash remittance using Form 2290-V, payment voucher. Write to:

Internal Revenue Service

P.O. Box 932500

Louisville, KY 40293-2500