Filing Form 2290

What is Form 2290?

Form 2290 is a Federal Excise Tax imposed on vehicles operating in public highways with a gross weight of 55,000 pounds or more. Taxes are collected annually and are used for maintaining American highways in proper condition. It is also referred as HVUT (Heavy Vehicle Used Tax).

Who should file Form 2290?

Anyone who registers a heavy highway motor vehicle in their business or name with a gross weight of 55,000 pounds or more, must file Form 2290 and pay the taxes to the IRS.

How often do you file Form 2290?

The IRS Form 2290 must be filed every year by August 31st. The current tax period for heavy highway vehicles begin on July 1, 2020, and ends on June 30, 2021. For vehicles in service for a full year, the filing is once. For new vehicles, Form 2290 must be filed by the last day of the month following the month of first use.

When to file Form 2290?

Form 2290 must be filed for the month the taxable vehicle is first used on public highways during the current period. The current period begins July 1, 2020, and ends June 30, 2021. Form 2290 must be filed by the last day of the month following the month of first use. If any due date falls on a Saturday, Sunday, or legal holiday, then file by the next business day.

Ways to file your Form 2290?

  • Paper Filing - You can go to your local IRS office, stand in queue for a few hours to handle Heavy Vehicle Use Taxes. It is very slow and stressful process and this kind of filing is limited only to less than 25 trucks. It’s a time consuming process.
  • Electronic filing - You must e-file your Form 2290, Heavy Highway Vehicle Use Tax Return, if you are filing for 25 or more vehicles. With e-file you receive quick delivery of your IRS watermarked Schedule 1 with in a minutes.

Use of Form 2290

  • To pay the tax due on highway heavy vehicles with a taxable gross weight of 55,000 pounds or more.
  • If the suspended vehicle exceeded the mileage usage limit during the tax period, the taxpayer needs to pay the tax due, for which the Suspension Statement is filed previously on another Form 2290.
  • To pay the tax due when the vehicle's taxable gross weight increases and falls into a new category during the tax period.
  • To claim suspension from the tax when the vehicle does not exceed the mileage usage limit 5,000 miles (7,500 miles for agricultural vehicles) during the tax period.
  • To claim credit for the taxes paid on vehicles, which is stolen, destroyed, sold or used within 5,000 miles.
  • To report acquisition of used heavy vehicle for which the tax has been suspended.
  • To pay the tax due on a used taxable vehicle acquired and used during the period.
  • To report all vehicles for which you are reporting tax (including an increase in taxable gross weight) and those that you are reporting suspension of the tax by category and Vehicle Identification Number (VIN).
  • Used as proof of payment to register your vehicle(s) (unless specifically exempted) in any state. Use the copy of Schedule 1 stamped and returned to you by the IRS for this purpose.

Penalties applicable, if failed to file IRS HVUT Form 2290

Late filing penalties may be applicable, if IRS Form 2290 filing is delayed.

  • If you fail to pay the HVUT (Heavy Vehicle Use Tax) by the given due date of August, the penalty is 4.5% of the total HVUT tax, which is on due and this is evaluated every month up to 5 months.
  • You must also face the extra monthly penalty, which is equal to 0.5% of the total tax due. Excluding this charges, there are additional interest charges that are applied as well.
  • If the proof of HVUT payment is not provided the registration of your vehicles will be suspended or in worst case along with the fines, you need to face imprisonment in cases of guilt.