Things You Should Know While Filing Form 2290

Filing Form 2290

As responsible citizen and trucker, it is crucial for us to file all the taxes on time, one of which is form 2290. Filing form 2290 and paying the Heavy Vehicle Use Tax (HVUT) not only helps in the repair and maintenance of US public highways but is our moral obligation as a trucker.

If you are a trucker, it is important for you to know about form 2290. Form 2290 tax is an Internal Revenue Service (IRS) tax form that you should file if you have a vehicle with a taxable gross weight of 55,000 pounds or more.

It is mandatory to file form 2290 and pay the HVUT amount if your vehicle has run 5000 miles or more in the odometer. Owners of heavy vehicles must keep themselves updated on the guidelines and eligibility for HVUT return to file form 2290 on time and avoid any mistakes.

Form 2290 Filing: Online & Manual

You can easily file form 2290 manually and online. For manual filing, you can download one from the IRS website or obtain one from the IRS office. After filling out the form, you should then mail it to the IRS address. If your form is accepted, you will receive your Schedule 1 copy within 6 weeks.

You can file online through a trusted IRS authorized e-file service provider. All you need to do is fill out the details and submit the form online. After the IRS processes your form, you will receive your Schedule 1 copy within a few minutes of filing.

When is Form 2290 Due?

It is advised to file form 2290 in advance so that you do not miss the due date. You can pre-file your form 2290 online for the tax year 2021-2022 from May 1st, 2022, till June 30, 2021.

Form 2290 is filed annually anytime between July 1 and August 31. The due date for filing form 2290 for the tax period 2021-2022 is August 31, 2021. Make sure you file your form 2290 and pay the HVUT amount before the due date to avoid penalties imposed by the IRS.

An IRS e-file service provider will keep you updated about all the things related to form 2290. You can also seek help from their customer support team if you require any help or assistance regarding filing.

If you are choosing the manual way of filing, you need to be attentive while filing so that you don’t make any mistakes to avoid the chances of rejections.

The following points will come in handy when filing IRS form 2290:

  • IRS form 2290:It is a tax form filed by truckers who own heavy vehicles weighing at least 55,000 pounds or more. This form is basically for people in the trucking business. This tax goes by the name of Heavy Vehicle Use Tax, heavy highway tax or truck tax.

You will get a copy of Schedule 1 after the completion of the tax filing.

  • Eligibility: If you have a vehicle weighing 55,000 pounds or more and if your vehicle has run 5000 miles or above, you must file form 2290 and make the HVUT payment. If your taxable vehicle gets sold or stolen, you can claim credit on the vehicle.
  • Due date: This tax is paid every year for the tax period starting from 1st July till 30th June of next year.If you miss the form 2290 due date,you will have to pay penalties and late filing charges.
  • Who can file? If you are a truck owner and have a vehicle weighing 55,000 pounds or more, if you are a Limited Liable Company (LLC), or if you have used your vehicle for 5000 miles or above and 7,500 miles or above for an agricultural vehicle, you should file for this tax.
  • Exemptions: You are exempted from this tax filing if you
  1. are a qualified QSub,
  2. eligible single-owner disregarded entity,
  3. own a vehicle operated under dealers’ tag or license,
  4. have the vehicle used under the welfare of Indian Tribal Community,
  5. own a vehicle which is not used for highways, etc.

For a detailed study on exemptions, please visit the official website of IRS or ask your IRS service provider.

So, above are some things you should do as a trucker while filing IRS form 2290. If it seems an arduous task and need any help, always consult an IRS-Authorized e-service provider like for expert guidance.

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