What Is An Amended Return And How To Make Amendments In Form 2290?

If you own a heavy vehicle that weighs 55,000 pounds or more, the Internal Revenue Services mandates you to file a 2290 tax form. It says that every individual owner that owns a heavy vehicle, that shows 5,000 miles or more in the odometer is expected to file a tax form i.e.  Form 2290 before the due date. So, if you manage a trucking business, it is recommended that they file the 2290 tax return on time.

Why is Form 2290 required?

Form 2290 is useful for the following purposes:

  • It can be used to make tax payments for heavy vehicles that weigh 55,000 pounds or more which are being utilized for the respective tax period.
  • It can also be used to claim credit for the tax payment done on the vehicle which is stolen, destroyed, or sold.
  • It is also required to file 2290 amendments.
  • You can use it to report acquisition of a used taxable vehicle for which the tax has been suspended.

Form 2290 Amendment

While submitting Form 2290, all the information provided to the IRS must be accurate. However, there occur circumstances when the need to change the vehicle’s details arises. Fortunately, the drivers have an option to make changes in the already submitted details with the help of the Form 2290 amendment.

Therefore, when a user makes any changes to the already submitted 2290 form and files it all again, it is considered to be an amended return.

What is the purpose of an amended return?

The following are some of the possible reasons for making amendments to the 2290 form:

  • Increment in gross weight of the taxable vehicle:

If there is any change in the gross weight of the taxable vehicle, then an amendment for the same would be mandatory as the vehicle will now fall under a new gross weight category. Thus, it needs to be reported to the Internal Revenue Services, so that the applicable tax payment could be paid.

The user has to file the amended return by the last day of the following month when the gross taxable weight has increased.

Next, the user should calculate the additional tax amount by entering the first used month and the increased gross weight.

  • Surpassed mileage usage-

Heavy vehicles are taxable when they cross 5,000 miles in a given tax period. If the vehicle does not cross 5,000 miles, it will be considered tax suspended. Tax suspended vehicles are not charged tax, but the user has to file form 2290 to report that their vehicle is tax suspended.

So if there is an increase in mileage usage for the vehicle then the tax for the same becomes due. So, the driver has to file form 2290 amendment to report the same .

The user has to pay the tax amount by the last day of the following month when the mileage usage limit has surpassed.

The user will also receive the amended stamped form 2290 schedule 1 copy on the registered email address, once the amended file is submitted and processed.

  • VIN correction-

If the driver has filed an incorrect VIN in form 2290, then he has to amend the same. If the user is filing through an IRS-authorized e-filing service provider, he can carry out VIN correction for free on the previously submitted form 2290. He will receive the stamped schedule 1 copy within a few minutes.

How to make amendments to Form 2290?

Following are the steps that need to be followed to make amendments to form 2290:

  • The first and the foremost step is to log into the account made using the email Id and password set at the time of registration.
  • The proceeding page will give you an option that says, “Amend the existing filing.” Click on the same.
  • From the given dropdown list, the user has to select the filing to which the amendment has to be made. If the user wants to add a new business to the list and he is allowed to execute the same by clicking on the start e-filing option.
  • In the next step, the user is supposed to select the month and the year when the vehicle is first used. He also has to declare if he is filing the final return.
  • Further, the user has to choose the type of amendment he wants to make from the options given i.e. increment in taxable gross weight, exceeding mileage, and VIN correction.
  • Next, he has to update all the amendments that he wants to make along with the additional information on the webpage.
  • It is important to check and review all the details updated thoroughly and later select the IRS payment option.
  • Later, he can also choose the mode of payment and pay the service charge..

These are the steps that would help a user carry out the necessary amendment in the already submitted e-filing form. The amendments must be made duly on the form 2290 due date i.e., the last day of the next month when the changes have been incurred.

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