What is Form 2290 Amendment?
Amendment refers to any change that you want to make to your previously filed returns. Supplementary tax is applicable on an amendment return, which can be paid electronically. Your Schedule 1 is made available instantly once the Amendment return is approved by IRS, with ePay2290 it is easy to prepare your Amendment return and pay the additional taxes online, receive updated Schedule 1 instantly.
IRS Tax 2290 Amendments
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VIN Correction - To correct the mistakes done in VIN during previous filing, IRS provides an option in Form 2290 to correct the mistakes. This type of amendment is called as the VIN correction. VIN correction helps the user to provide proper VIN once again. VIN Corrections can be filed for Taxable or Suspended Vehicles, and not for credit vehicles or prior year suspended vehicles. With ePay2290 you can easily correct your VIN using VIN correction Amendment.
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Gross Weight Increase (GWI) - If the taxable gross weight of a vehicle increases and the vehicle falls under new category than originally reported, your amendment will fall under this category. You will need to pay the additional tax for the increased weight.
Example - if your vehicle's gross weight falls in the range of 60,0001 - 61,000 lbs, select 'G' category while reporting your previous tax return for the tax period and when your vehicle’s estimated gross weight increases and falls into new category i.e. V (above 75,000 lbs.), then you need to and report the additional tax for this increase in weight category with Form 2290 Amendment. This should be reported by the last day of the month succeeding the month in which the taxable gross weight increased. With ePay2290 you can easily file this increase in taxable gross weight and accurately calculate the difference in tax due to IRS. You will also get your IRS Form 2290 Schedule 1 copy for the new weight category in minutes.
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Mileage exceeded (ME) - when your vehicle exceeds the average mileage use limit i.e. 5,000 miles for normal and 7,500 miles or less for agricultural vehicles within the 12 months filing period, then it falls under the category of mileage exceeded. If your vehicle’s mileage limit exceeds then you need to calculate and report the additional tax for this increase in mileage use limit using Form 2290 and termed as Amendment. You have to pay by the last day of the month following the month in which mileage use limit was exceeded. With ePay2290 you can easily file this exceeded mileage of your vehicle accurately and calculate the difference in tax due to IRS. You will also get corrected Schedule 1 copy with VIN and other details for the new weight category in minutes.