As a truck driver or fleet owner, you are familiar with the annual Form 2290 filing requirements. The form is used to report and pay the heavy vehicle use tax (HVUT) to the Internal Revenue Service (IRS) for the trucks that weigh 55,000 pounds or more. Previously, you had to mail a check or money order along with the form or visit an IRS office to pay the tax. However, with the introduction of the electronic funds withdrawal (EFW) option, you can pay your HVUT in a hassle-free manner.
EFW is an electronic payment option that allows you to authorize the IRS to withdraw funds from your checking or savings account to pay your tax liability. You can use the EFW option to pay your HVUT or any other tax liability that you owe to the IRS.
To use the EFW option, you need to provide your bank account and routing number while e-filing your Form 2290. You can use the IRS-approved e-filing service providers to file Form 2290 and make EFW payments. Alternatively, you can e-file Form 2290 on the IRS website and select the EFW option to pay your tax liability.
EFW is a convenient, secure, and cost-effective option to pay your HVUT using Form 2290. By choosing EFW, you can save time, money, and effort in paying your tax liability. However, make sure to provide accurate bank account and routing number details while e-filing Form 2290 to avoid any errors in the payment process.