When vehicles with registered gross weight equal to or exceeding 55,000 pounds use public highways, the owners need to pay a tax called Heavy Vehicle Use Tax (HVUT). The tax would depend on the gross weight of the vehicle and the load carried. To calculate the gross weight of the vehicle, add the weight of the motor vehicle & the trailers when empty. For the load carried, use the maximum of the load carried through the vehicle and the trailers.
If you are with a heavy vehicle with gross weight equal to or exceeding 55,000 pounds, report HVUT through IRS Form 2290 and Schedule 1. The reporting would be after the first use of the vehicle under State, District of Columbia, Canadian or Mexican Law and for the tax period: July 1 of the existing year to June 30 of the following year.
You need to provide your Trucking Company Details, Vehicle Details, Bank Account Details, etc., to file Form 2290
File the Form 2290 before the deadline August 31st. The deadline is the last day of the second month after the tax period ends. The tax period is between July 1 of the previous year and June 30th of the current year. If you have a vehicle which you are reporting for the first time, begin from the last day of the month following the month of first use. For example, if you have registered your new vehicle's first use in January, report HVUT from the month of February. Continue till the month of filing the form, that is, August 31st.
E-file your Form 2290 with the payment for HVUT through any intermediate service providers of the IRS e-file program for excise taxes, such as ExpressTruckTax.com, or through any electronic return originator (ERO), transmitter etc. Visit www.irs.gov/trucker to know more about the IRS e-file providers.
As an e-file provider authorized by IRS, ExpressTruckTax supports Form 2290, Form 8849 and Form 2290 Amendments. To learn more click hereFile Your Form 2290 Now
If you have to paper-file Form 2290 to report HVUT, do it with Voucher Form 2290-V to include the details of check/ money order through which the tax is paid.
If you are late to pay and report through Form 2290 (after August 31st each year), you would be penalized with 4.5% of the total tax due for every month up to 5 months. If you are late in both paying and filing your return, you need to pay an additional monthly penalty of 0.5% of the total tax due along with an extra interest charge of 0.54% per month for the tax due.
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