The Form 2290 due date is getting close!
By now, there’s tons of content floating around about Form 2290 for 2019…
There are plenty of different providers offering promo codes for filling, and various articles containing IRS 2290 instructions.
The 101 On Form 2290 2019
What’s the Deal With the Form 2290 Due Date?
If you’ve been in the industry for a while, you’re probably used to the August 31st Form 2290 due date, but there’s another date being tossed around this year.
Because August 31, 2019 is a Saturday, and the following business day is Labor Day, the IRS will officially accept 2290 Form 2019 up until September 3, 2019.
Unfortunately, that extension doesn’t change the fact that the IRS and the postal office will be closed Monday, September 2nd.
Therefore, it is critical that you file your Form 2290 2019 TODAY.
Seriously, don’t put it off. Which brings me to… IRS penalties.
If you file after September, 3rd (which I hope you don’t), you’ll face a penalty of 4.5% of your Form 2290 2019 tax amount, with additional interest of 0.54% per month.
If you filed your Form 2290 for 2019 but did not pay your tax amount by the deadline, that penalty will be 0.5% of your total Form 2290 2019 tax amount, plus 0.54% interest per month.
You may avoid penalties if you include a reasonable explanation for filing IRS Form 2290 for 2019 after the 2290 due date, but don’t count on it.
What IRS 2290 Instructions do I Need to Start?
Filing is simple, but before you start, gather all the information you’ll need to file 2290 Form 2019. It’ll speed up your process.
Here’s how to know if you need to file:
You’ll need to file if your vehicle has a taxable gross weight of 55,000 pounds or more and is driven on public highways.
You can claim an exemption or suspension for your vehicle if it:
– Was used 5,000 highway miles or less during the tax period
– Is an agricultural vehicle and was used 7,500 miles or less during the tax period
– Was stolen or destroyed during the tax period
– Was sold during the tax period
Here’s what you need to file:
– Your EIN (Employer Identification Number) –– NOT your Social Security Number
– Your business name and its address
– The Vehicle Identification Number (VIN). Hint: it’ll be 17 characters.
– Authorized Signatory Details
– Vehicle’s Gross Taxable Weight (how much it weighs when fully equipped for service, minus the weight of you and any loads).
Next, we’ll talk about how to file.
What’s the Fastest Way to File?
Now you’re probably wondering, “Ok, how can I get this sh*t over with??”
ExpressTruckTax is the industry’s leading IRS-authorized e-file provider, and for good reason.
Our Rock Hill, South Carolina based support team is here for you… Literally!
We’re in the office all day today, Saturday, August 31, to answer all of your questions!
Don’t hesitate to give us a call at (704) 234-6005.
Now get to it!!