If you are into the trucking business, you must be aware of form 2290 and Heavy Vehicle Use Tax (HVUT). The IRS mandates that every person who owns a heavy highway motor vehicle weighing 55,000 pounds or more and covered 5,000 miles or above in the odometer file form 2290 and make the HVUT payment.
You can file form 2290 online or manually. Manual filing of form 2290 can be time-consuming and tedious, whereas e-filing allows you to file much faster, and with ease. When you e-file, you will receive your stamped Schedule 1 copy within minutes compared to paper-filing, which takes up to 6 weeks.…Continue reading