The IRS published helpful guide for truckers
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.
- 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.
Internal Revenue Service
P.O. Box 932500
Louisville, KY 40293-2500
If you aren`t sure if you need to file Form 2290, you can click here to get access to the online IRS tool, it`ll help you decide if you need to file the form.