HVUT is the Heavy Highway Vehicle Use Tax collected annually on heavy vehicles at a registered gross weight of 55,000 pounds or more, operating on public highways. The following guidelines to compute the total taxable vehicle weight are:
Small, medium and large truckers who operate heavy vehicles with a taxable gross weight of 55,000 pounds and more on a public highway are required to file Form 2290 to report the HVUT tax annually to the IRS and get a stamped Schedule 1 copy from the IRS in return.
You are required to have the below information to file IRS HVUT Form 2290,
The annual tax period to file Form 2290 and report the Heavy Highway Vehicle Use Taxes begins on 1st July and ends on 30th June. The tax period for the Annual renewal of form 2290 is due by August 31st of each year. For New Vehicles, file 2290 form by the last day of the month following the month of the vehicle’s first use.
To file Form 2290 electronically, you can do it through any electronic return originators (ERO), or IRS approved e-file service provider such as ExpressTruckTax.com. To know more information on e-file, visit the IRS Trucking Tax Center.
You can also file through paper filing. Mail Form 2290 to the IRS address. If tax not paid using the Electronic Funds Transfer or Electronic Federal Tax Payment System (EFTPS), mail Form 2290-V, and check or money order along with Form 2290.
If you fail to file the IRS Form 2290 by August 31st, the penalty will be equal to 4.5% of the total tax due. It is charged every month up to five months. Late filers also meet an additional monthly penalty equal to 0.5% of the total tax due.
