While many of us are busy in filling 2290 tax returns, there are people who find reasons for not filing. The number of defaulters is increasing considerably every year. According to a report, more than 10 million people were expected to file their returns late. There are countless reasons and excuses are increasing every year to justify the decision to file late or not file at all. However, such excuses are not considered by the IRS and at times they could land you in jail or attract penalties. Let us check out the most popular reasons for filing late or not filing the truck tax returns.
Reasons for Not Filing Form 2290 in Pre Filing Season
Lazy and Forgetfulness
Laziness is the most common reason for not filing or late filing. The IRS never sends notice or agents to you when you fail to file the tax return. Amidst the busy schedule, few people do not consider that filing the tax is important and plans to file them later. As the days pass, it becomes too late to file the tax, which leads to penalties. When you did not file the tax, somehow you will be tracked and it is not acceptable by the IRS.
If you are deployed in connection active military service internationally, you are eligible for filing extensions for your tax returns. eHow.com states that “if you were in the duty zone, you no need to submit any additional forms as the Department of Defense shares your SSN and the names.” However, it is better to check whether the exemption is applicable to you.
When you can prove that your tax or tax-related financial documents are destroyed, the IRS grants you special permission. For instance, if your house is burnt in the fire accident and if you have enough evidence to prove it, you no need to pay penalties for filing late. But note that, the IRS confirms whether the records are destroyed accidentally or intentionally. An eyewitness, police records, and photographs can help you in such condition.
Having discussed the late filing or not filing the HVUT Form 2290, it becomes important to check out the benefits of Pre-filing your tax returns. The IRS has introduced this pre-filing concept to reduce the burden on the taxpayers. Listing the benefits of pre-filing Form 2290.
Benefits of Pre Filing Form 2290
1. When you are pre-filing Form 2290, you have 2 months of time to make changes in the Form, amendment and refile your tax returns if the form is rejected.
2. Can make corrections on the rejected forms and report them back on time before the deadline.
3. No worries about the penalties for the late tax filing and reduce the burden from your work schedule.
4. Receive your stamped Schedule 1 before anyone else.
5. Pre-filing never costs anything extra. Just you are filing the tax returns ahead with no extra fee.
6. Avoid the virtual e-file traffic at the last minute of filing your Form 2290.
7. Pre-filing lets you to file the tax returns now and pay the tax amount by the deadline. So you have plenty of time to allocate the tax amount as you got the tax calculations earlier.
8. Last minute tax filing attracts errors which in turn can lead to Form rejection. So avoid errors through pre-filing the form
If you not filed in pre filing season, no need to worry. The 2290 regular season started from July 1st to August 31 for the 2017-2018 tax year. Etax2290 helps you to e-file your HVUT Form 2290 and receive your stamped Schedule 1 in minutes. No need to rush out in the 2290 season. Happy Filing!