How to Get a IRS 2290 stamped Schedule 1 for Heavy Highway Vehicle (DOC)

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How to Get a IRS 2290 stamped Schedule 1 for Heavy Highway Vehicle (DOC) Powered By Docstoc
					The Process of Filing IRS Form 2290 and getting a stamped Schedule 1 can
be rather complicated.    The First Step to Receive a Stamped Schedule 1
for your Heavy Vehicle Use Tax (HVUT) is to fill out IRS Form 2290. The
Schedule 1 is included in this Form. This can be done either by hand or
online. This Form then needs to be taken to the nearest IRS Office along
with a proof of payment or proof of EFTPS Payment. Or it can be mailed to
the nearest IRS office The Problem with this is that both options are
very time consuming.    If the form is actually taken to the IRS, the
nearest office may be many miles away. There can also be very long
waiting period at the IRS office of up to several hours. If the form is
mailed to the IRS, it can take 4-6 weeks before it is processed. The IRS
will then review your Form 2290 and when it is verified, they will stamp
it and return a portion of it to the taxpayer.        The Stamped
Schedule 1 is required in order to register a vehicle. So it can be very
stressful to wait until the last minute to register your vehicle because
you are waiting for the IRS to send you a stamped schedule 1.

  What is the Purpose of HVUT? The HVUT is a significant source of
transportation funding in the U.S. In 2006 alone, the HVUT generated more
than $1.4 Billion in Federal Highway Trust Fund (HTF) revenue. The
Federal HTF protects America's investment in its transportation
infrastructure. In 2007 alone, Federal HTF receipts were $39.9 Billion,
with $34.9 Billion dedicated to the HTF's Highway Account. The Federal
HTF finances a wide spectrum of transportation investments which include:
Highway improvements (e.g., land acquisition, other right-of-way costs,
preliminary and construction engineering, construction and
reconstruction, resurfacing and restoration costs of roadways and
bridges) Highway and bridge maintenance Highway law enforcement Safety
programs (e.g., driver education and training, vehicle inspection
programs, enforcement of vehicle size and weight limits) Congestion
relief projects Administrative costs (e.g., research, engineering)
Investment in our nation's highway infrastructure helps: Save money,
time, & lives Reduce the amount and severity of crashes for all kinds of
vehicles Enhance the ability of emergency responders Lower fuel and
insurance costs Decrease energy consumption Ease congestion Boost air
quality Increase mobility Improve the efficiency of the movement of
goods Raise business productivity Strengthen the nation's economic
productivity      When to File? A Form 2290 must be filed annually, for
each taxable vehicle that is used on public highways during the current
period. The Current Period is from July 1, and ends on June 30. A Form
2290 must also be filed once a vehicle is placed in service. The due
date for each month is the last day of the following month. For example:
if a vehicle is placed in service on October 3rd, the Form 2290 will be
due on November 30th.        How to File? Although it is possible to
paper file, E-Filing is required for each return containing at least 25
vehicles. The IRS does encourage everyone to file electronically due to
its security and speed. This is highly recommended for Form 2290 in
particular because the filing due dates are always only one month away.
There are several e-file providers of services that can help you E-File
Form 2290 with the IRS, one such provider is
They provide a very excellent service for all your Truck Tax Needs.
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