HVUT is the Heavy Highway Vehicle Use Tax assessed annually for public highway operated heavy vehicles at registered gross weights equal to 55,000 pounds or more. The total taxable vehicle weight is computed by considering the following aspects:
Small, medium and large truckers who operate their heavy vehicles with a taxable gross weight of 55,000 pounds and more on a public highway requires to file Form 2290 to report the HVUT tax annually to the IRS and get a stamped Schedule 1 copy in return.
You are required to have the below information to file IRS HVUT Form 2290,
The annual tax period to file Form 2290 and report the Heavy Highway Vehicle Use Tax begins on 1st July of the previous year and ends on 30th June of the current year. The Annual renewal of form 2290 is due by August 31st of each tax period. For New Vehicles, file IRS Form 2290 by the last day of the month following the vehicle’s first use month.
Electronically: E-file 2290 through any electronic return originators (ERO), or IRS approved e-file service provider such as ExpressTruckTax.com. For more information on e-file, visit the IRS website at www.irs.gov/efile or visit www.irs.gov/trucker.
Paper: You can also file through paper filing. Mail Form 2290 to the IRS address. If the tax not paid using the Electronic Funds Transfer or Electronic Federal Tax Payment System (EFTPS), mail Form 2290-V, your check or money order along with Form 2290.
The penalty will be equal to 4.5% of the total tax due if you fail to file the IRS Form 2290 by August 31st of the tax period. It is charged every month up to five months. Late filers also meet an additional monthly penalty equal to 0.5% of the total tax due.
