The trucking industry is the most active industry and also the owners are very busy with their work loads and the schedule. They always hurry and work quickly, due to which chances for them are making mistakes in filing form 2290 with the IRS. The Internal revenue services understand that there can be many mistakes; hence it allows the people to correct the mistakes. If you had made mistakes while filling the form 2290, then there are certain instructions laid down by the IRS, which you should follow. They are as follows –
Mistakes in Numerical Values
You can easily make the heavy use of vehicle tax form 2290 amendments/corrections. Whenever you file form 2290 and submit it to the IRS, there are chances that you have made mistake, because the IRS form includes various kinds of IRs terminologies and deals mainly with values which are numerical in nature. The most common mistakes that you make are the wrong vehicle identification number. And many times you even enter the incorrect taxable gross weight of the vehicle. Also, are various kinds of typographical errors? So that you can fix those mistakes the IRS has come up with some instructions.
The IRS will allow the tax-payer to correct the mistakes made while filing the 2290 form. You can correct the mistakes and one of the main instructions is that you have to file the 2290 amendment form. Internal revenue services will accept the 2290 amendment electronically, which is mandatory. You can also file the form 2290 amendment through Etax2290 to make the process quicker. Now, this amendment form 2290 which you will file will not only be used to fix the error in the form 2290 taxbut also you can easily make a report if the suspected vehicle exceeds the mileage limit of 5,000 miles. You can do this online.
Mistakes in EIN Number
You can also make corrections in your IRS schedule 1 copy if you have made mistakes. Again here, you will have to take form 2290 amendment for schedule 1 copy and fill the form electronically. You can also make mistakes like in the EIN which is the employer identification number in schedule 1. You will have to correct the employer identification number and fax it to the IRS along with an explanation as to how the number went wrong. If the IRS accepts the number with incorrect EIN, then it means that belongs to someone else.
Refund Form 8849
The IRS will have to find out and track the payment for that vehicle for which the payment was made. If the IRS asks you to make a new IRS form 2290, then you will have to pay the taxes again. After which you can file for a refund of the money that you have paid earlier for the incorrect form 2290 online where you made mistakes in the employer identification number. for a refund, you will have to use form number. 8849. Business name if made new cannot be accepted with the same EIN, you have to change the business name.