Form 2290, Heavy Highway Vehicle Use Tax Return, is a significant tax form that heavy vehicle owners and operators must file annually with the IRS. Failure to comply with the regulations and deadlines outlined in this form can result in HVUT penalties.
Therefore heavy vehicle owners must pay the HVUT tax on time to avoid unnecessary financial burdens and ensure smooth operations on public highways.
Here, we will learn more about Form 2290, and the penalties associated with it and understand the critical aspects of filing the 2290 return accurately and on time.
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IRS Form 2290 is used to report and pay the HVUT tax for vehicles having a taxable gross weight of 55,000 pounds or more that operate on public highways.
The HVUT tax amount is determined based on the vehicle's taxable gross weight and whether it is used for the entire tax year or a partial period.
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 has imposed strict deadlines for filing Form 2290 and paying the HVUT tax amount. The typical tax year for the HVUT form runs from July 1st to June 30th of the following year. For vehicles first used on the road after July, the deadline is the last day of the month following the vehicle's First Use Month (FUM).
The deadline for filing Form 2290 for the entire tax year 2023 is August 31, 2023.E-File Form 2290 Now
*If any due date falls on a Saturday, Sunday, or legal holiday, file by the next business day.
Failure to adhere to the HVUT requirements and missing the filing deadline can lead to significant penalties.
So, it's necessary to file Form 2290 on time to avoid unnecessary penalties and interest charges.
The penalties can vary depending on the following factors:
In addition to these federal penalties, many states suspend the registration of vehicles for which proof of HVUT payment has not been provided. There are also penalties for filing false or fraudulent returns.
To avoid penalties, you can show a reasonable cause* for failing to file Form 2290 or pay HVUT taxes on time and can request penalty relief by sending a letter to the IRS with an explanation.
*Do not attach this explanation when you file your return.
If you need more time to file your Form 2290, you can request an extension before the due date of the return. You are required to write a letter with a full explanation for the cause of the delay and send it to:
Internal Revenue Service
7940 Kentucky Drive
Florence, KY 41042-2915
When it comes to payment options for tax obligations such as the Heavy Vehicle Use Tax (HVUT), the IRS offers several HVUT tax payment options for taxpayers to pay their HVUT amount on time.
File your 2290 return online and pay the tax due easily with TaxZerone starting at just $9.99/return. Our e-filing software supports all the electronic payment options authorized by the IRS to ensure your HVUT taxes are paid on time.
Individual Truck Owners or Fleet Managers can e-file IRS Form 2290 easily with TaxZerone in 3 simple steps.
Enter the required information, such as your business name, EIN, VIN, taxable gross weight, and First Used Month (FUM).
Review the information you provided, check and rectify errors if any, and pay the balance tax due using the EFW or EFTPS or Credit/Debit card option.
Transmit the return to the IRS and get your stamped Schedule 1 as soon as you complete the filing process.
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