Do you know a truck driver? Are you a truck driver? Well, then have we got some info for you!
Truckers & Their Taxes
Chances are, you or someone you know is a part of the trucking industry. The Department of Transportation registers over 40,000 commercial drivers licenses each month, and there are roughly 350,000 owner-operators up and running in the US. While this means that technically only about 7% of traffic on highways is made up of big trucks, truckers pay around 36% of the taxes and fees that go into the Highway Trust Fund.
In this way, truckers are the backbone of our highways as well as the circulatory system of our economy. Basically every commodity you can think of - particularly those that require special handling - is transported to different locations around the country by truck drivers.
It’s no surprise, then, that truckers getting their taxes filed is quite a big deal.
Heavy Vehicle Use Tax (HVUT), Form 2290, & Schedule 1
Form 2290, the Heavy Highway Vehicle Use Tax Return, is filed by truck drivers and owner-operators whose vehicles have a taxable gross weight of 55,000 pounds or more. This is applicable for any and all taxable highway motor vehicles required to be registered under state, federal, Canadian, or Mexican law. The main function of Form 2290 is to figure and pay any tax due for these vehicles, but it can be used to report a variety of other information as well.
Form 2290 must be filed with a Schedule 1 which, once the return has been approved by the IRS, will be sent back stamped to the trucker who filed. This Schedule 1 is especially important because it’s used as proof that the vehicle’s taxes were paid and it can, therefore, continue operating until it’s time to file again a year later.
E-filing Form 2290
It’s no surprise one of the easiest ways to file Form 2290 is e-filing, but did you know ExpressIRSForms’s sister product, ExpressTruckTax, is the #1 IRS-authorized e-filer for HVUT Form 2290?? Thousands of truckers and owner-operators e-file through ExpressTruckTax each year not only because it’s fast, simple, and cost-effective, but also because they have the fastest return time for that stamped Schedule 1! Now, during 2290 pre-filing, you can get your Schedule 1 back in as little as just a few minutes after you pay and e-file. And with ExpressTruckTax, you can also pay any heavy vehicle taxes directly from your account through an electronic funds withdrawal (or direct debit).
But don’t dawdle: the time to file is now! The official filing season for 2290 forms due August 1, 2017, begins July 1 and the longer you wait now, the busier the IRS gets, and the longer you’ll have to wait later for your stamped Schedule 1.
So head on over to ExpressTruckTax to get started or download their 2290 e-filing app to file on the go! And if you need any help or have any questions, the ExpressTruckTax US-based customer support team is more than happy to help by phone, live chat, or e-mail!
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Truckers & Their Taxes
Chances are, you or someone you know is a part of the trucking industry. The Department of Transportation registers over 40,000 commercial drivers licenses each month, and there are roughly 350,000 owner-operators up and running in the US. While this means that technically only about 7% of traffic on highways is made up of big trucks, truckers pay around 36% of the taxes and fees that go into the Highway Trust Fund.
In this way, truckers are the backbone of our highways as well as the circulatory system of our economy. Basically every commodity you can think of - particularly those that require special handling - is transported to different locations around the country by truck drivers.
It’s no surprise, then, that truckers getting their taxes filed is quite a big deal.
Heavy Vehicle Use Tax (HVUT), Form 2290, & Schedule 1
Form 2290, the Heavy Highway Vehicle Use Tax Return, is filed by truck drivers and owner-operators whose vehicles have a taxable gross weight of 55,000 pounds or more. This is applicable for any and all taxable highway motor vehicles required to be registered under state, federal, Canadian, or Mexican law. The main function of Form 2290 is to figure and pay any tax due for these vehicles, but it can be used to report a variety of other information as well.
Form 2290 must be filed with a Schedule 1 which, once the return has been approved by the IRS, will be sent back stamped to the trucker who filed. This Schedule 1 is especially important because it’s used as proof that the vehicle’s taxes were paid and it can, therefore, continue operating until it’s time to file again a year later.
E-filing Form 2290
It’s no surprise one of the easiest ways to file Form 2290 is e-filing, but did you know ExpressIRSForms’s sister product, ExpressTruckTax, is the #1 IRS-authorized e-filer for HVUT Form 2290?? Thousands of truckers and owner-operators e-file through ExpressTruckTax each year not only because it’s fast, simple, and cost-effective, but also because they have the fastest return time for that stamped Schedule 1! Now, during 2290 pre-filing, you can get your Schedule 1 back in as little as just a few minutes after you pay and e-file. And with ExpressTruckTax, you can also pay any heavy vehicle taxes directly from your account through an electronic funds withdrawal (or direct debit).
But don’t dawdle: the time to file is now! The official filing season for 2290 forms due August 1, 2017, begins July 1 and the longer you wait now, the busier the IRS gets, and the longer you’ll have to wait later for your stamped Schedule 1.
So head on over to ExpressTruckTax to get started or download their 2290 e-filing app to file on the go! And if you need any help or have any questions, the ExpressTruckTax US-based customer support team is more than happy to help by phone, live chat, or e-mail!