Welcome back truckers, hope you are fit and fine. Hope you have filed form 2290 for the year 2014-15 and if you have not got your hands on HVUT yet, let us remind you, today is the last date for filing your return with no penalties getting involved.
Don’t get yourself confused, the due date for this year is 2nd of September as the actual due date was falling on a weekend. As per the books of IRS, if the due date falls on a weekend, the next business day is treated as the due date and that is why, 2nd of September is the last day for filing HVUT online or paper file.
What Happens If You Don’t File IRS Form 2290 By The Due Date?
Well, there are few consequences faced by the taxpayer for not filing HVUT on time. Among them, paying penalties and interest are the most frequent.
Penalties:
The total penalty for not filing by August 2014 will be 4.5% of the total tax due. This penalty is added up for 5 months.
For instance, if your total tax due is $250, then penalty will be $250X4.5%= $11.25
So total tax due with penalty will be $261.25
Interest:
Apart from penalties, the IRS charges monthly interest for the total tax due which is 0.5 of the total tax due.
Therefore, if you do not file your 2290 return on time, you will be liable to pay taxes with penalty and interests, which costs you around 5% of your total tax due. It is advisable to file your tax return on time to stay away from IRS audits.
Do remember, there is no way you can escape from filing your return to IRS. It is better to file and pay your dues online and receive your schedule 1 copy in minutes. However, before that, we would like to keep you updated about the advantages of filing online.
- · Save time and paper
- · Get your tax calculated accurately
- · Online Error check
- · No more waiting in long queues
- · File anytime from anywhere
- · Avoid the virtual traffic jams.
- · Text Alert and Fax Copy option available
- · Full time customer support by our Tax Experts
- · Receive your schedule 1 copy in minutes
However, do remember, the error check is not a guarantee that your return will not face rejection. There are various reasons for the same. We have discussed the same below:
- · The EIN Does Not Match Your Business Name
- · Duplicate Return or Duplicate VIN
- · EIN Not Registered In The IRS Records
- · Incorrect Routing Number
Do not panic if your return is rejected. You can come over and file your return again before the IRS gateway close midnight. So if you have not filed your return or your filed return is rejected for the mentioned above, do not hesitate to file again with Tax2290.com. You can always expect our Tax Experts around you. Reach us for more assistance at 1-866-245-3918 or email at support@taxexcise.com. Immediate assistance can be anticipated.