Dealing with taxes can be difficult, especially if by the very nature of your job you’re always on the road. Sacramento is home to two major interstate trucker routes; interstate highway 5, and interstate highway 80. The truckers on the road this labor day weekend are getting some tax relief this year by way of the calendar because truckers have an extra weekend and a day to get their taxes done.
The “trucker’s tax return”, Internal Revenue Service (IRS) Form 2290, is normally due annually on August 31. However, because August 31 falls on a holiday weekend this year, truckers have a little extra time to get their taxes done. This year Form 2290 don’t have to be filed and paid until September 3, for vehicles used since July 2013. For vehicles first used after July 2013, the filing deadline is the last day of the month following the month of first use.
Not sure if you need to file a Form 2290 for your vehicle? Examples of vehicles subject to Form 2290 IRS taxes include trucks, truck tractors, and buses. Generally, vans, pickup trucks, panel trucks, and similar trucks are not subject to this tax because they have a taxable gross weight less than 55,000 pounds. The taxable gross weight of a Form 2290 taxable vehicle, other than a bus, is the total of the actual unloaded weight of the vehicle fully equipped for service, the actual unloaded weight of any trailers or semitrailers fully equipped for service customarily used in combination with the vehicle, and the weight of the maximum load customarily carried on the vehicle and on any trailers or semitrailers customarily used in combination with the vehicle. The taxable gross weight of a bus is its actual unloaded weight fully equipped for service plus 150 pounds for each seat provided for passengers and driver.
While vehicle operators filing a Form 2290 may be an individual, limited liability company, corporation, partnership, or any other type of organization; they must have an Employer Identification Number. A social security number cannot be used to complete a Form 2290. Form 2290 additionally requires the vehicle identification number and gross weight of each taxable vehicle.
Form 2290 tax issues usually come to light in IRS collection cases for other tax liability types when there is a non-filing issue. This is usually when there is a taxpayer that is unable to resolve a separate personal or business tax issue until all outstanding Forms 2290 are filed. Consequently, the filing of delinquent tax returns, such as Form 2290, sometimes imposes additional tax liabilities that then must also be resolved. Although late tax filings often create additional liabilities, complying with tax filing requirements is a primary requirement when resolving any IRS collection case. Therefore, the truckers on the road can likely use the extra day to two this year to ensure their taxes are timely filed.
This tax article is not intended as legal advice, and cannot be relied upon for any purpose without the services of a qualified professional.