While the trucking industry grows more dynamic, it comes up with new opportunities for IRP plate providers to diversify their services and bring more money into their coffers. One of those often neglected potentials is Form 2290 filing the Heavy Vehicle Use Tax (HVUT) that the IRS requires for vehicles of over 55,000 pounds. Offering Form 2290 e-filing as an ancillary service can set you apart from competitors will differentiate you from competitors, and grow your business.
Truck owners have to file Form 2290 every year to remain compliant with the IRS and legally operate on U.S. highways. Failing to do so leads to penalties and delays in registration or denial of IRP plates. Since you already take care of IRP registration, you can now connect with your customers with the online filing of their HVUT Form 2290.
Form 2290 filing goes with IRP plate service. While IRP registration typically concerns the jurisdiction and miles driven by a vehicle, Form 2290 shows that it is tax-compliant in the eyes of the IRS. Not only does this all make sense, but it also brings more financial value to the table.
If you are a newbie to Form 2290, partnering with an IRS authorized e-file provider would be the most advisable initial step. With such platforms, you could easily do the following:
This would allow integrating all these into the IRP workflow, thus implying that your business is one-stop compliance hub for the trucking clients.
Provide to clients additional Form 2290 e-filing services to not only give them a means of complying with the Federal Regulations but also a source of income to your business. Investing minimally, this IRP plate service could turn out into a compliance powerhouse to address the trucking industry's full documentation needs while setting apart from the rest.
Note: For more information, visit IRS website