Status Transportation Answers 2290 Form FAQs

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Status Transportation 2290 form FAQs

Being new to owner operator trucking you probably didn’t know that before getting a plate for your truck you first had to file a 2290 form.  Here’s some important information you must know

So what is a Form 2290 and who must file it?

If you have a vehicle that is a taxable gross weight of 55,000 pounds or more registered to your name, then you need to pay a heavy highway vehicle use tax.

What is the 2290 cost?

owner operator trucking 2290 formIf you recently bought a truck, then the cost will be prorated depending on the month when you registered it.  The cost is $550 a year due on June 30 of every year. You also have the option to file online using one of the many IRS authorized providers.  There is a processing fee that will range anywhere between $6 to $15 depending on the vendor.

How can owner operators file a 2290 Form?

Some owner operator trucking companies will file for you by advancing you the money then take it out from your settlement in multiple payments.  That way you don’t have to worry about filing before the due date or paying one lump sum.   

As an owner operator truck driver, it is always a good idea to be prepared to pay for operating expenses like these.  Not all owner operator trucking companies offer the option to pay for your 2290 form, and you could end up paying out of pocket.  So make sure to have some reserve funds in the bank.

If you do file your heavy highway vehicle use tax 2290 form on your own, don’t wait until the last minute to do so.  There are places where you can e-file before the season begins on June 1st. That way you can get a copy of your Schedule 1 via email as soon as the IRS stamps it.  Also, some online services provide calculators that can help you figure out how much heavy highway vehicle use tax you owe and have the option to send you a copy of your Schedule 1 via email, via text message or fax.

What information do you need to file a 2290 Form?

  • Owner Operator Trucking Companies filing 2290Employer Identification Number. You will need to have an EIN, they do not accept a social security number.
  • You can Apply for an EIN in case you don’t have one yet. Just know that it can take up to two weeks for your new EIN to be established in the IRS systems before you can file your 2290.
  • You must use the same name as in your EIN.
  • VIN Number of each vehicle.
  • The taxable gross weight of each vehicle.

Becoming an owner operator will require you to learn more about the business side of things.  Filing taxes will be one of them.  Fortunately, there are many very useful websites with valuable information like owneroperators101.com that will make the transition to an owner operator trucking job a lot smoother.

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