When you run a large fleet, time and effectiveness matter a lot. For trucking companies with vehicles over 55,000 pounds, filling out IRS Form 2290 individually for each unit can be a task that is time-consuming and expensive at the same time. This is a place where bulk 2290 filing comes as a solution ready for the high-volume operators — it simplifies the process of paying the vehicle use tax (HVUT).

The Advantages of Using Bulk Filing for Heavy Vehicle Use Tax (HVUT)

What are a few of the main advantages of entrusting your Heavy Vehicle Use Tax (HVUT) to bulk filing, surpassing the conventional one-by-one filing? Let’s find it out below.

Save Time through Streamlined Process

By bulk 2290 filing, big trucking companies can process returns for all the vehicles in a single shot, thus doing away with the repetitive data entry. Companies can use a single spread sheet or a data file with a long list of vehicles instead of numerous forms for each vehicle. Automation eliminates the manual effort, thus saving the human workforce needed to carry out core operations.

Lower Rejections and Errors while Filing with the IRS

Typing vehicle details for each Form 2290 in a piece of software is a sure way of skyrocketing the error and hence the rejection rates and penalties to follow suit. A bulk filing error check can validate the data in a matter of seconds, provided that the filing platform is equipped with such a tool. Doing this will eliminate errors significantly and will help in the compliance sector without any effort on the part of the company.

Get Quicker Schedule 1 Approvals

When the bulk e-filing service providers process the returns, you normally get the stamped Schedule 1 in a few minutes, thereby meeting your registration deadlines and saving you from vehicle downtime. If you have numerous vehicles, you will need fast DMV renewals, which is why it is very important.

Use Scalable Tech and Cut Back on Costs

The process of doing bulk 2290 filing is not only time-efficient, but it is also very cost-effective. The majority of e-filing services provide special rates to big companies with 200 or more vehicles in their fleets. This decreases the cost for every vehicle when it is compared to individual filing. Furthermore, the reduction of working hours for tax preparation that is achieved by your staff also results in the increasing of your operational savings over the months.

Paperless Compliance with Recordkeeping Made Easy

When it comes to bulk filing, most of the platforms come with a secure dashboard that acts as a central repository for all of the filing records, the stamped Schedule 1, and the payment receipts. In this way, compliance during the audits or in renewals becomes very simple and stress-free, and thus, the responsibility of tracking the paperwork for dozens or hundreds of vehicles is eliminated as well. It is possible to get things done only if you have everything in one place and it’s a permanent solution.

Outside of merely being a relief for really large trucking companies, completing 2290 in huge quantity is also a bonanza. The advantages of it vary from error and cost reduction to compliance and efficiency improvement. If your fleet has 25 or more vehicles, you are better off paying less by going for a bulk filing solution throughout this season.

Note: For more information, visit IRS website