IRS Gives Three Month Extension to File Form 2290
We wrote a post a couple of weeks ago about the possible late filing of form 2290 to report the excise tax owed on semi-trucks owned by farmers for the period ended June 30, 2011.
The IRS has just issued release 2011-77 indicating there is an automatic three month extension until November 30, 2011 to file the return. The IRS is also indicating that no payments should be remitted until after November 1, 2011.
The release also indicates that the states are required to accept the schedule 1 that was stamped by the IRS for the previous year’s return. This will allow farmers to register their trucks with the state or local authority.
Paul Neiffer is a certified public accountant and business advisor specializing in income taxation, accounting services, and succession planning for farmers and agribusiness processors. Paul is a principal with CliftonLarsonAllen in Walla Walla, Washington, as well as a regular speaker at national conferences and contributor at agweb.com. Raised on a farm in central Washington, he has been immersed in the ag industry his entire life, including the last 30 years professionally. Paul and his wife purchase an 180 acre ranch in 2016 and enjoy keeping it full of animals.
Actually i was searching for answers regarding this extension. Your site helped me with some answers but was not sure if we need to file this year or not and if we need to file when was the last day? I tried couple of sites listed in IRS and after 3 calls with different companies, the fourth one yourtrucktax.com gave a clear answer. Its easy at times to list the content and questions and answers, but i am kind of person like details. No harm on other sites, i was happy to get the answers and the rep was on call for 10 minutes.
Coming to the point; The last day for filing without fine for 2011-2012 is november 30th 2011, So get it right and so you can claim on your business tax in January 2012.