If you’re a trucker with a heavy motor vehicle that has a taxable gross weight of 55,000 pounds or more, you are required to report and pay HVUT Form 2290 to get a stamped copy of your Schedule 1. You must file for any taxable highway motor vehicles that are required to be registered in your name under state, District of Columbia, Canadian, or Mexican law at the time of its first use during the tax period.

You must e-file your Form 2290 if you are filing for 25 or more motor vehicles, but IRS encourage e-filing for anyone required to file Form 2290 and who wants to receive quick delivery of their watermarked Schedule 1. With e-file, you’ll get it almost immediately after IRS accepts your e-filed Form 2290.

Form 2290 is used to:

• Figure and pay the tax due on highway motor vehicles used during the period with a taxable gross weight of 55,000 pounds or more;
• Figure and pay the tax due on a vehicle for which you completed the suspension statement on another Form 2290 if that vehicle later exceeded the mileage use limit during the period;
• Figure and pay the tax due if, during the period, the taxable gross weight of a vehicle increases and the vehicle falls into a new category;
• Claim suspension from the tax when a vehicle is expected to be used 5,000 miles or less (7,500 miles or less for agricultural vehicles) during the period;
• Claim a credit for tax paid on vehicles that were destroyed, stolen, sold, or used 5,000 miles or less (7,500 miles or less for agricultural vehicles);
• Report acquisition of a used taxable vehicle for which the tax has been suspended;
• Figure and pay the tax due on a used taxable vehicle acquired and used during the period.

Form 2290 is filed for the tax period:

The Tax Period for Federal Excise Tax Form 2290 (HVUT), is July to June of the following Year. Any Heavy Rig with a gross weight of 55,000 lbs or above should have a 2290 filed for it every tax Year. No matter which time of the year you file your HVUT Form 2290, it would expire by the end of June & it has to be renewed on or before August 31^st. Most of the Truckers get it wrong and stay under the assumption that their Form 2290 is Valid for a year from the date they filed it or they even think that it needs to be renewed only when their vehicle is due for registration.

Form 2290 stamped Schedule -1 proof for payment:

The proof for filing HVUT, Federal Excise tax Form 2290 is the Stamped Schedule 1 copy that is received from the IRS. This Schedule 1 copy is one of the mandatory documents that should stay in every Heavy Vehicle which has a gross weight of 55,000 lbs or above and this schedule 1 copy needs to be produced at the DMV when the Truck goes in for renewal of tags.

What is new in Form 2290 electronic filing?

IRS is now accepting tax payment by Credit or Debit card along with the other  available options and they are Direct Debit (EFW), EFTPS and Check or Money Order. Paying with your bank account for free, or choose an approved payment processor to pay by credit or debit card for a fee. Read more here.

Pre-File 2290 ahead off the schedule for 2018 -19.

Prefiling is now available for all 2290 filers, use TaxExcise.com or Tax2290.com and report your 2290 truck taxes for 2018 -19 tax period in advance. Prefiling could also save you 10% of your eFile charges on the account of father’s day. Celebrate father’s day week with this 10% off, use code FATHERSDAY to avail.