Form 2290 online for 2024-2025

What Mistakes Occur While Filing Form 2290 Online?

2290 Due Date Misconception

One of the most common mistakes occurring when filing IRS Form 2290 Online is “misconception of the 2290 deadline”. As per the IRS rules, 2290 Heavy Vehicle Use Tax is based on the fiscal year. You cannot consider vehicles registration date to determine the due date to file 2290 returns and pay road taxes. Moreover, Highway taxes are due to the IRS by August 31st every tax year. For newly purchased vehicles, the excises taxes are due by the last date of the following month of FUM of the vehicle. For example, if you purchased a vehicle on April 1st, 2024 and started using public roads. The FUM of the vehicle is “April”. 2290 Taxes are due to the IRS by May 31st, 2024 for the fiscal year April 1st, 2024 to June 30th, 2024.

Mismatch of 2290 Form information

The other common mistake occurs when filing 2290 Tax Form is mismatching business information. In general, the IRS matches the name and business provided in EIN with business information provided on Form 2290. If the name on your 2290 doesn’t match with the name associated on EIN, the IRS considers fraudulent filing. Furthermore, the IRS rejects the tax return and imposes penalties for fraudulent filing. Additionally, it extends the time of using the truck on public roads. Mismatching information mostly occurs when filing tax returns in the last-minute. So, avoid last-minute filing and fill in the correct information and file Form 2290 on time.

Filing Form 2290 with SSN

When filing an IRS 2290 Tax Form online, Employer Identification Number is important to file tax returns to the IRS. With the help of EIN, the IRS can identify the business entity as an individual, or corporation, owner, etc. Generally, in some cases SSN can be used in place of an EIN. But when filing 2290 tax returns the IRS doesn’t accept Social Security Numbers in place of EIN. Instead apply to get a new EIN beforehand and file tax returns 15 after receiving a new EIN. In general, a new EIN requires 2 weeks to get registered in the IRS database. Meaning your number is not active until two weeks after the IRS issues a new EIN. Avoid filing immediately after receiving a new EIN to get free from IRS rejections.

Misclassifying 2290 vehicle category

When filing a 2290 tax return you’ll mostly come across the word “Vehicle category”. Vehicle category decides whether to pay 2290 taxes or to suspend. As mentioned earlier, the category of the vehicle is divided into three kinds i.e., Taxable vehicles, suspended vehicles and logging vehicles. Commercial or agricultural vehicles weigh 55,000 pounds and travelling 5,000, 7,500 miles or more in a tax year are taxable vehicles. HVUT is based on the gross weight of the vehicle. Suspended vehicles are exempt in paying HVUT if the unit travelled by the vehicle is less than 5,000 miles a year. Heavy vehicles which are primarily used to carry forest materials like trees, logs etc are logging vehicles. Highway Tax for logging vehicles is lower than actual HVUT. Before you start filing tax returns, identify the vehicle category to avoid mistakes on Form 2290.

Incorrect VIN & Bank information

Ensure to double check the information provided on form before transmitting to the IRS. Vehicle Identification Number and bank account details play an important role when paying road taxes to the IRS online. Without a VIN and HVUT payment, your heavy vehicle cannot use public roads. Make sure to correct the VIN immediately and replace the old VIN entered wrong with the correct one. Moreover, provide a valid bank account number, routing transit number when paying excise taxes online. Correcting mistakes made on Form 2290 may add steps to the 2290 Form process.