Heavy vehicle tax form 2290 news – file your suspended vehicle for 2011-2012.
IRS has announced that the law the governs heavy vehicle use tax form 2290 will expire by the end of September 2011 and due to the halt in the decision by the congress on heavy vehicle use tax laws, we can certainly expect form 2290 to be delayed for the year 2011-2012. However IRS understands that the delay will definitely leave tax payers agitated and hence, IRS has come up with the following solution.
• Getting Your Tags and/or Registering Your Vehicle - Existing regulations allow states to register a heavy highway vehicle when the application for registration is received during the months of July, August or September 2011. If you have your receipted Schedule 1 for the previous year's taxable period, in this case, July 1, 2010 through June 30, 2011, states can accept it as proof of payment.
• Registering Your Newly Acquired Vehicle - States must register newly acquired heavy highway use vehicles without proof of tax payment if you present the original or a photocopy of a bill of sale showing that the vehicle was purchased by the owner during the 60 days before the date the state receives the application for registration.
Moreover, heavy highway use vehicles which are not subject to taxation (suspended vehicles) can be filed for tax year 2011-2012. Therefore, truck owners, contractors or individuals owning a vehicle of 55000 pounds and above but has traveled less than 5000 miles (7500 miles in case of agricultural vehicles) can indeed go ahead and file their tax 2290 form for year 2011-2012 and they will also receive their schedule 1 within minutes. On the other hand, individuals who are waiting to electronically file form 2290 for year 2011-2012 on taxable vehicles, want to make amendment on their previous filed 2290 form or want to claim credit on their vehicle can also go ahead and electronically file tax form 2290 with an IRS certified e file provider such as greentax2290.com but in that case, their return will be transmitted to IRS once IRS opens the 2011-2012 filing period for heavy vehicle use tax form 2290. Thus, adopting the advance filing method will definitely save tax payers lot of time and they don't have to stress over the opening of the 2290 filing period for 2011 as once they file with greentax2290.com, the IRS certified e file provider will take care of everything from keeping tax filers informed about 2011 form 2290 updates and making sure they get 2011 accepted schedule 1 on their submitted returns as and when the filing period opens.
• Getting Your Tags and/or Registering Your Vehicle - Existing regulations allow states to register a heavy highway vehicle when the application for registration is received during the months of July, August or September 2011. If you have your receipted Schedule 1 for the previous year's taxable period, in this case, July 1, 2010 through June 30, 2011, states can accept it as proof of payment.
• Registering Your Newly Acquired Vehicle - States must register newly acquired heavy highway use vehicles without proof of tax payment if you present the original or a photocopy of a bill of sale showing that the vehicle was purchased by the owner during the 60 days before the date the state receives the application for registration.
Moreover, heavy highway use vehicles which are not subject to taxation (suspended vehicles) can be filed for tax year 2011-2012. Therefore, truck owners, contractors or individuals owning a vehicle of 55000 pounds and above but has traveled less than 5000 miles (7500 miles in case of agricultural vehicles) can indeed go ahead and file their tax 2290 form for year 2011-2012 and they will also receive their schedule 1 within minutes. On the other hand, individuals who are waiting to electronically file form 2290 for year 2011-2012 on taxable vehicles, want to make amendment on their previous filed 2290 form or want to claim credit on their vehicle can also go ahead and electronically file tax form 2290 with an IRS certified e file provider such as greentax2290.com but in that case, their return will be transmitted to IRS once IRS opens the 2011-2012 filing period for heavy vehicle use tax form 2290. Thus, adopting the advance filing method will definitely save tax payers lot of time and they don't have to stress over the opening of the 2290 filing period for 2011 as once they file with greentax2290.com, the IRS certified e file provider will take care of everything from keeping tax filers informed about 2011 form 2290 updates and making sure they get 2011 accepted schedule 1 on their submitted returns as and when the filing period opens.