subject: What Exactly Is Heavy Vehicle Use Tax? [print this page] Filing heavy highway vehicle use tax punctually is vital, especially for trucking companies and other businesses that employ big trucks and machinery to transport their goods. It is a necessary fee meant to help the truckers because the funds obtained from this tax become used for the maintenance of roads and highways throughout the country. You probably know this this as merely heavy vehicle use tax.
Having a general idea of what this fee is for means that you can see the value of heavy highway vehicle use tax. Commercial vehicles that weigh 55,000 pounds or more should pay this tax. This much weight might cause damage to roadways, and the government must fix worn-down highways to ensure that business continues running as usual. The total collected from these taxes covers costs for these repairs. In addition, it covers other road maintenance requirements like law enforcement organizations and emergency road response teams, for starters.
Not all heavy vehicles are required to pay this tax. The state revenue department exempts emergency vehicles like fire trucks, along with government-used and other volunteer emergency response vehicles. Some commercial and agricultural trucks may also be exempt from paying the heavy vehicle use tax. Agricultural trucks traveling a distance of less than 7,500 miles are exempt. The same exemption is applicable for heavy commercial vehicles traveling at most 5,500 miles. If you belong to these two exemptions, you still need to file your IRS Form 2990 with required documents that verify you belong to the exemption.
Pick from the three methods available for filing your taxes. First, you can file your Form 2290 in person at the Internal Revenue Service office where your company is registered. It is advisable to line up to obtain the form and go on another line to pay for the taxes as soon as you fill in the form. Be sure you have the patience to wait if you choose this option.
It's possible to print a copy of the form and complete it at home, then mail it with evidence of your payment to the IRS office. Should you go along with this choice, be sure to file your documents in advance and check with the IRS office regularly as soon as you mail your documents. You never know if your documents may get lost in the courier service or if they may experience circumstances that delay the delivery of your taxation papers.
If you would like an easy solution to submitting your heavy vehicle use tax, or if you don't have plenty of time to file in person, this next choice is for you. You could go online to download and fill out the form electronically. Pay your dues using one of the three acknowledged methods: electronic federal tax payment system, in which you schedule to pay for your taxes over the phone or online; direct debit from your account; or by using a voucher. Scan your evidence of payment and send this scanned copy plus your electronic Form 2290. This procedure is faster plus more convenient for a lot of trucking companies and businesses.
If you got no prior experience with filing this type of tax, be sure to check with a financial expert or a tax attorney to help you with the process. You may also want to hire a firm that gives filing and other services. You merely have to provide them with the information they need and they're going to do the filing and updating process for you. Select the method you are most comfortable with and get the help of experts to make sure you pay the right taxes.
