So truckers, you have been filing form 2290 since a very long time and we are sure you know in and out of the application. However, today, we are going to talk about Third Party Designee and its role they play in form 2290. Well, before we proceed, let’s understand form 2290.
Form 2290 or HVUT is an application filed by truckers, owner operators and tax filers for their heavy rigs weighing more than 55,000 pounds. Usually the tax season behind on July 1st and for two months i.e. 31st of August is the last date for filing form 2290. However, there are times when the due date is falling on a weekend or a public holiday. In such cases, the next business day is declared as the due date for filing form 2290.
Also, IRS has made it mandatory for truckers who own more than 25 vehicles to e file their form 2290 and pay their dues to IRS to avoid penalties.
Coming back to Third Party Designee, the basic role of the person is to handle your tax returns and financial dealings with IRS on your behalf. We know how busy and taxing it gets when you are behind the wheels and in such cases; Third Party Designee comes in for your rescue. Simply
Keeping in mind the busy schedules to run the show of deliveries, a trusted person from an employee to or business head can be assigned as Third Party Designee. Simply check on “Yes” to authorize IRS to speak with the designee to answer the questions shot by IRS related to the information noted in form 2290. Also, you are authorizing the designee for:
- · Exchange of information concerning form 2290 with IRS,
- · Request and receive written tax return information related to form 2290, including copies of notices, correspondence, and account transcripts
You need to mention the designee name, phone number and the five digits that person choose as his/her personal identification number (PIN). Do note the authorization applies only to the tax return on which it appears and does not bind the designee to deal with additional tax liability or otherwise represent the taxpayer before the IRS. The authorization is valid for one year from the due date. You can revoke the authorization by writing to IRS. Check out IRS official website for more details.
Also, if you have taken your vehicle out for the first time in the month of August, then get set go to file form 2290 by 30th September 2014, i.e. tomorrow. So join hands with a trusted, authentic efiling service provider like Tax2290.com, a prime product of ThinkTrade Inc. for betterment and receive your schedule 1 copy in minutes.
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