Tag Archives: IRS Form 2290

Failing to file returns or pay taxes when due?

Penalties and Interest

The law provides penalties for failing to file returns or pay taxes when due. There are also penalties for filing false or fraudulent returns. These penalties are in addition to the interest charge on late payments. The penalty for filing a return late or paying the tax late will not be imposed if you can show reasonable cause for not filing (or paying) on time. If you file after the due date (including extensions), attach an explanation to the return to show reasonable cause.

The penalty for failing to file IRS Form 2290 by August 31st is equal to 4.5 percent of total tax due, assessed on a monthly basis up to five months. Late filers not making an HVUT payment also face an additional monthly penalty equal to 0.5 percent of total tax due. Additional interest charges of 0.54 percent per month accrue as well. An HVUT liability that was originally $550 would climb to over $700 by the end of the five-month period of delinquency. In addition to these federal penalties, many states suspend the registrations of vehicles for which proof of HVUT payment has not been provided.

The Secretary of Transportation has the authority to withhold up to 25 percent of the state’s Interstate Maintenance funds [23 U.S.C. 104(b)(5)] if it fails one of its periodic compliance reviews.

Any information regarding filing Form 2290 – HVUT please call our Help Desk 1-866-245-3918 or simply write to us your queries support@taxexcise.com.

Proof of payment for state registration

Proof of payment for state registration

Generally, states will require verification of payment of the tax for any taxable vehicle before they will register the vehicle.

Use the stamped copy of Schedule 1 as proof of payment when:

* Registering vehicles with the state, or
* Entering a Canadian or Mexican vehicle into the United States.

If you do not have the stamped copy, you may use a photocopy of Form 2290, Schedule 1, and both sides of your canceled check as proof of payment.

IRS stamped Schedule 1 copy:

In efiling service the Schedule 1 copy will have IRS efile watermark, with received date. This is the valid Schedule1 copy from IRS and accepted across states for registration and proof of payment.

In paper return the schedule 1 copy will be stamped as paid by IRS.

Inside this Issue of Outreach Corner

The December Outreach Corner includes the following articles.

  1. Didn’t get your 2009 Refund? It may be waiting for you.
  2. Student Loans– Applying for a student loan is now easier.
  3. Tax Planning – Make taxes easier; start planning today!
  4. Adoption Credit – Tax credit of up to $13,170 for adopting a child
  5. Join the Plan–  Invest in your retirement.
  6. Year-end Check-up – for individual retirement account owners
  7. Making Work Pay Creditis still working for taxpayers.

Continue reading →

Starting in 2011, Many Paid Preparers Must e-File Federal Income Tax Returns for Individuals, Estates and Trusts

WASHINGTON — The Internal Revenue Service today detailed how, starting Jan. 1, 2011, paid tax return preparers can comply with a new law that requires paid tax return preparers who meet the definition of “specified tax return preparer” under the new law to electronically file (e-file) federal income tax returns that they prepare and file for individuals, trusts and estates.

The e-file requirement will be phased in over two years. Continue reading →

Heavy Vehicle Use Tax (Form 2290) is due September 30th 2010 if used in August

Efile Form 2290 HVUT anytime from anywhere at www.Tax2290.com. Heavy Vehicle Use Tax (Form 2290) is due September 30th 2010 if first used your vehicle in August.

Time to file, it is less than a week. Try e-filing this year. It is Simple, Safe, Secured, Quick and Easy only at www.Tax2290.com. Tax2290.com specialized in e-filing and makes your filing experience easier. Taxpayers who filed with us stated high about our service and ranked #1. Continue reading →