Steps to Follow in Filing the Tax Form 2290

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If you are the owner and the operator of a heavy vehicle, then you would have to file form 2290. The government generally imposes a completely different rate and scheme of taxing for the vehicles that weight above 55,000 pounds. The IRS 2290 form needs to be filed within the months of January to December. Failing to file and submit the 2290 tax form can result in legal trouble and penalties as well. It is necessary for you to remember that the calendar year for Heavy Highway Vehicle starts from 1st July and ends on 30th June. Business operators and owners should not only accomplish the form, but they also need to complete Schedule 1. Schedule 1 is the listing of all those heavy vehicles which are taxable. This list needs to be completed and attached to the 2290 form.

truck tax 2290Src: Flickr

Getting Form 2290

Form 2290 can easily be obtained from the Internal Revenue Service. Nowadays, people can use various other options for getting this form. They can easily get these forms from the physical office of the IRS. They can also download the form online. What needs to be done next is printing and then filling out the form. The instructions need to be checked thoroughly. Each step has to be followed carefully. If you miss any step you might fall into great problem.

Filling Out the Form

Filling out the IRS 2290 form is not a very difficult thing to do. The form can be understood very easily and the information required in generally self-explanatory. You have the option of calling the IRS in case of any concerns or questions in regards to the form filling procedure. You can reach the IRS by calling on its various toll free numbers. Try talking to a personnel in order to get proper and clear instructions. You need to provide your demographic information right at the top of 2290 form. The details that you need to provide include your address, name, city, employer identification number and state. The reason for filing the tax form should also be stated. Common reasons behind submitting this form include address change, correction of the vehicle ID number or final return and amended return.

Computing for the Applicable Taxes

You need to work on Part I of 2290 form in order to compute the applicable taxes. The first six lines of Part I of the form need to be checked. These sections will give you information on whether the vehicle qualifies for the tax payment or not. You will also be guided through the applicable rates of using the heavy vehicles on the public highways. Once you are done with the process of figuring out your use of the heavy vehicle, sum up the total credits and the tax. Information on the rates is available on Page 2 of 2290 form. Line number six should contain the overall balance.

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