Truckers need to abide by many rules and regulations if they own or operate a heavy vehicle. The rules include the payment of taxes on time. One of the most important tax returns is the heavy vehicle use tax return (HVUT). The truck owners’ needs to know about all the facts related to it and make sure that they pay this tax on time.
You must pay the HVUT tax by filing the form 2290 every year. Thanks to advancement in technology, filing 2290 tax returns have become easier than ever. Once you complete the filing formalities, you can pay your HVUT tax using four simple payment modes. Let’s take a look at them:
- Payment through Electronic Fund withdrawal: If the person is filling Form 2290 through a trusted e-filing service provider, they can authorize a direct debit from their bank account and pay their Heavy Vehicle usage tax using EFW. For this type of payment, you need to provide bank account details and the routing number of the bank account. The e-filling platform will not store bank details of the user. Rather, they will act as a bridge between the IRS and the taxpayer. Here are the benefits of EFW:
- It is free of cost
- Once the person pays using EFW; the money will get deducted from their account within 24-48 hours. In case of weekends or federal holidays; the money will be deducted on the next working day.
- The information regarding the payment is kept safe with the e-filling partner while transaction.
- Payment through EFTPS: Electronic Federal Tax Payment System or EFTPS is a free service provided by the US Department of Treasury for hassle-free payment of federal taxes. EFTPS service is available 24*7. Taxpayers can make the payment on any day of the year without any hindrance. To enroll for the EFTPS payment, you need to provide your EIN or SSN along with details of the bank account and the routing number. All the details should be correctly specified in the IRS tax documents. Here are the benefits of EFTPS:
- It is one of the quickest and most accurate ways of paying taxes.
- EFTPS service is available 24*7 that makes it very convenient for users
- Users can schedule payment 120 days in advance
- Taxpayers can check payment history
- Once payment is processed, the user will receive an acknowledgement message.
- Payment through Debit/Credit card: Taxpayers can pay their HVUT taxes using their credit/debit card. The IRS does not charge any additional cost for carrying out payment using credit/debit card. Taxpayers can pay their HVUT tax by entering their card details and authenticating the transaction using the one-time password received on their registered mobile number.
- Payment through money order: The IRS accepts HVUT road tax payment through money order. Just the person requires to fill in the EIN, name, address and the date on the payment. They must send the MO to the Department of Treasury. The IRS will process it within a few days’ time.
- You must attach the money order along with the completed 2290 form to the IRS.
- Whether you e-file or manually file your 2290 form, the money order must reach the IRS ahead of the filing deadline to avoid penalties.
- Do not staple the MO to the 2290 tax return. Use paper clips instead.
- Rely on U.S. Postal services to draft the MO instead of private delivery services.
Though the mode of payment of HVUT tax is clear. Now there is a requirement of few important information that is provided at the time of e-filing process. The information regarding business name, EIN, business address, etc. is entered in form. Apart from business information, proper information regarding vehicle is stated in form. This will include the gross taxable weight, VIN, details regarding any suspended vehicle, details regarding third-party designee, and declaration along with signatures. Users filing late truck tax returns will be charged with penalty.
All truckers must file their 2290 form and pay the HVUT tax to use the American highways. There is more than one way to pay your HVUT tax. Last-minute filers must avoid payment through money order as it takes 2-3 days for it to get processed by the IRS. Instead, they can opt for online payment modes for a hassle-free payment experience. For more streamlined processing, it will be a great deal to take off the trustworthy e-filing partner eForm2290.com. Enjoy the best experience of paying HVUT tax and get expert guidance throughout the e-filing process. eForm2290.com will keep giving timely updates regarding Form 2290 due date. Even their dashboard interface is very helpful for the regular tax filers. Easy access to the previous year taxes will be given once the user files the truck tax online.