What is Form 2290?

 

Heavy Highway Vehicle Use Tax Return or Form 2290 is a Federal Excise Tax imposed on vehicles operating in public highways with a gross weight of 55,000 lbs or more. Taxes are collected annually and are used for highway construction and maintenance.

What are the other terms used for referring to form 2290?

 

2290 is also referred as Heavy Vehicle Used Tax or HVUT, Truck Tax and Highway Vehicle Tax.

Who must file 2290?

 

If you own and operate a heavy vehicle with a gross weight of 55,000 lbs or more, then you are liable for filing Form 2290.

You may be an individual (trucker or owner operator), limited liability company (LLC), corporation, partnership, or any other type of organization (including nonprofit, charitable, educational, etc.).

When should I file form 2290?

 

You must file Form 2290 by the last day of the month following the month of first use during the current tax period. Normally for a tax year, the filing period starts from July 1st to June 30th of next year. The form is due by August 31st. If any due date falls on a weekend (Saturday & Sunday) or federal holiday, file by the next business day.

How should I file form 2290?

 

You can file form 2290 in two ways:

  • E-Filing - File electronically to IRS using an online filing application and receive a stamped schedule copy in minutes. IRS recommends e-filing for filing a return as it is simple, easy and secure.

  • Paper File- Manually mail the return to IRS office. You are likely to receive your schedule copy in 5-45 days.

How to calculate fees for late filing and payment of 2290 tax?

 

The penalty for failing to file IRS form 2290 by August 31st is equal to 4.5 percent of the total tax due, assessed on a monthly basis up to five months. Late filters not making an  HVUT  payment also face an additional monthly penalty equal to 0.5 percent of tax due. Additional interest charges of 0.54 percent per month accrue as well.