Expect Filing Delays of Form 2290 for Many Farmers
The IRS has indicated in a couple of announcements (most recent one here) that the form 2290 excise tax return for the year beginning July 1, 2011 and ending June 30, 2012 and for the quarter beginning the same date will be delayed for some unknown time. As was with the new tax laws passed in December of 2010, this delay is beyond the control of the IRS since they are waiting on Congress to make a decision.
Farmers are usually required to have a copy of form 2290 to present to their local state licensing office when renewing the tabs on their larger trucks. The IRS indicates that the local licensing office should accept the July 1, 2010 to June 30, 2011 filing instead and if not, they can call an IRS representative (if they feel like waiting on hold for up to an hour which is my normal experience lately).
As Congress and the President continue to dither on the debt ceiling bill and other related matters, we may see more delays in forms just like this one.
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.
calling up IRS is no use, they make us stay on hold for a long time. But there are service providers like ez2290.com, who are providing advanced e filing of tax form 2290 for 2011-2012.