When it comes to filing Form 2290 and paying the Heavy Vehicle Use Tax (HVUT), the IRS offers flexibility and convenience to vehicle owners by providing multiple payment options to pay the HVUT taxes. This makes it easy for 2290 filers to pay their taxes on time and fulfill their tax obligations.
Here, we will explore what HVUT Form 2290 is and the various payment methods available to pay HVUT taxes.
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HVUT Form 2290 is an IRS tax form filed by owners or operators of heavy vehicles that operates on public highways with a gross weight of 55,000 pounds or more. It is an annual tax imposed on heavy vehicles used on public highways to fund the maintenance and improvement of the country's transportation infrastructure.
However, vehicles that run less than 5,000 miles (7,500 miles for agricultural vehicles) are considered tax-suspended vehicles. If you own such a vehicle, you are not required to pay the heavy vehicle tax but should file Form 2290.
The IRS offers several payment options to accommodate the diverse needs of HVUT taxpayers. You can select any of the below-mentioned options at your convenience.
These options include:
Electronic Funds Withdrawal (EFW) is the most preferred payment method by the IRS for taxpayers who want to e-file their 2290 excise tax form.
Choosing this option allows taxpayers to authorize the IRS to withdraw the HVUT balance due amount they owe directly from their bank account. You must provide your bank account and routing number for this payment method.
The tax amount will be debited from your bank account only after your Form 2290 gets accepted by the IRS. Please make sure to have enough funds in your bank account.
Electronic Federal Tax Payment System (EFTPS) is a free electronic payment system provided by the U.S. Department of the Treasury.
You can opt for this payment option if you are enrolled in EFTPS. However, if you do not have an EFTPS account, you can create one for free by visiting www.eftps.gov or contacting 1-800-555-4477. It might take about 10-15 days to set up an EFTPS account.
While using this payment option, you must schedule your EFTPS payment by at least 8 p.m. EST on the day before the due date, to ensure your payment goes through within the deadline.
The IRS also supports credit/debit card payment options for HVUT payments. It supports major credit cards like Visa, Mastercard, American Express, and Discover.
You can initiate the Form 2290 HVUT payment using your credit/debit card online or by phone.
While using this option, your HVUT tax payment will be processed by a service provider or a licensed payment processor who will charge a processing fee based on your overall tax amount. Usually, you will be charged around 2% of your total 2290 tax amount as service fees by the licensed payment processor.
Taxpayers can pay their HVUT Tax Payment non-electronically through check or money orders.
Please follow the below instructions if you're sending a check or money order for HVUT payment:
Mail your payment and 2290 Voucher to
Internal Revenue Service
P.O. Box 932500
Louisville, KY 40293-2500
You will receive your stamped Schedule 1 irrespective of your payment status. Though, make sure to complete the payment to the IRS before the 2290 deadline.
The deadline for filing HVUT Form 2290 with the IRS will be the last day of the month following the vehicle's First Used Month (FUM). The current tax period for heavy highway vehicles begins on July 1, 2023, and ends on June 30, 2024.
The annual Heavy Vehicle Use Tax Form 2290 filing deadline for the tax year 2023 is
August 31, 2023.
Failing to file Form 2290 and pay the tax dues by the deadline may result in penalties imposed by the IRS. So, it's necessary to file Form 2290 on time to avoid unnecessary penalties and interest charges. There are also penalties for filing false or fraudulent returns.
Below are the penalty rates for Form 2290:
|Failure to file the Heavy Vehicle Used Tax (HVUT) return by the deadline.||Failure to file both the 2290 return and heavy vehicle taxes|
|4.5% of the total tax amount due and the penalty will increase monthly for up to five months.||0.5% of your total tax amount. You will also face an additional interest charge of 0.54% per month.|
To avoid penalties, you can show a reasonable cause for failing to file Form 2290 or pay taxes on time and can request penalty relief by sending a letter to the IRS with an explanation.
File HVUT Tax Form 2290 easily with TaxZerone starting at just $9.99/return. We support all the electronic payment options authorized by the IRS to ensure your HVUT taxes are paid on time!
You will only have to enter the required information, calculate and pay the balance tax due, transmit the return to the IRS, and get your stamped Schedule 1 in minutes!
The whole filing process gets completed in less than 5 minutes! You will also get email updates on your return status as soon as the IRS processes it.
Ready to file HVUT Form 2290 online?
Get your stamped Schedule 1 in minutes!