Registration needs Schedule 1
States generally ask for the stamped Form 2290 Schedule 1 before registering a heavy truck.
EXCISE TAX · FORM 720 · FORM 2290
Excise tax, on time.Schedule 1 in hand.
We identify the federal and state excise taxes that apply to your business, prepare Form 720 and Form 2290, and keep the records behind every return on the same calendar as your income and sales tax.
Form 720quarterly federal excise
Form 2290heavy vehicle use tax
Schedule 1kept for registration
Sound familiar?
Excise rules are industry rules.Deadlines keep coming.
Volumes that must tie out
Gallons, sales or trips on an excise return have to match your source records.
Past-due periods stacking up
Missed Form 720 or Form 2290 periods build penalties and interest until they are filed.
What’s included
Your excise file.
The same office prepares your returns, payroll and sales tax, so the work is built for the filings that come after it.
Excise mapping
We identify which excise forms typically apply to your industry and build a filing calendar.
Form 720 quarterly returns
Quarterly federal excise returns prepared from clean volume records.
Form 2290 heavy vehicle use tax
Filed for trucks at 55,000 pounds taxable gross weight or more, with Schedule 1 kept on file.
Vehicles added mid-year
New trucks reported by the end of the month after their first month of use.
State excise layers
We identify state excise and environmental fees that apply to your operating footprint.
Catch-up and notices
Past-due periods handled first, with audit support if a notice has already arrived.
How it works
From first call to done.
- Step 1Excise reviewWe look at your products, fuel and fleet to see which excise taxes apply.
- Step 2Calendar setForm 720, Form 2290 and state dates join your tax calendar.
- Step 3Records reconciledGallons, sales or vehicle weights are tied to source records.
- Step 4Filed and savedReturns are filed and proof, like Schedule 1, stays in your file.
The Ozfield difference
Built for trucking.Tax and insurance together.
Most people use one company for taxes, another for books and a third for insurance. With Ozfield, one team sees it all, so nothing gets lost between offices.
Trucking industryBooks, taxes and compliance set up for owner-operators and fleets.IFTA quarterly returnsFuel tax reporting that uses the same mileage and fuel records.Trucking insuranceOur agency shops truck coverage in the same office that files your 2290.Safety servicesCompliance calendars that line up with your excise dates.
Great people to work with! Highly recommended if you need to do your personal or business tax!
FAQs
Good questions.
Something else on your mind? Call 773-536-9272 and our office will walk you through it.
Who files Form 2290?
Anyone who registers a highway motor vehicle with a taxable gross weight of 55,000 pounds or more. Vehicles used 5,000 miles or less in the period (7,500 for agricultural vehicles) are reported as suspended.
When is Form 2290 due?
The tax year runs July 1 to June 30. For trucks on the road in July, the return is usually due August 31. For a truck first used later, it is due by the end of the month after the month of first use.
Who files Form 720?
Businesses liable for certain federal excise taxes, such as some fuel, communications and environmental taxes, file Form 720 each quarter.
When is Form 720 due?
By the last day of the month after each quarter ends: April 30, July 31, October 31 and January 31.
Can Form 2290 be e-filed?
Yes. E-filing is required when you report 25 or more vehicles, and it returns the stamped Schedule 1 quickly.
Trucks, fuel or excise goods?
Book a call and we will map every excise filing onto one calendar.