Truckers, over this article we are going to discuss on how to go about claiming a tax exemption on your vehicle if you realized that you have not driven it over the desired mileage limit. It is said by the Internal Revenue Service that the mileage limit for exemption remains to be 5000 miles or more for commercial based units and 7500 miles for Farming & Logging based units.

The Heavy Highway Vehicle Used Tax Return HVUT Form 2290 is an annual tax paid to the Internal Revenue Service on vehicles that grosses over 55000 lbs or more and if the same vehicle is been used for its desired purpose. Form 2290 is basically due by June and it’s payable until the end of August.

The Form 2290 needs to be filed for the upcoming 12 months hence one must be really sure about the mileage the truck is going to be used. If the truck will be used over the desired mileage limit for exemption, then you pay no taxes to the IRS. Only upon exceeding the desired mileage limit of exemption we have to pay the tax due amount to the IRS.

The Annual Heavy highway vehicle used tax return is due by June of every year and its payable until the end of August.  However, the Federal law states that Form 2290 must be e-filed by the last day of the month following the month of its first use. On that basis the Form 2290 is now due by March 01, 2021 for vehicles first used since January 2021

Also the most common error committed by the HVUT tax filers whist e-filing their HVUT Form 2290. This error occurs when the tax filer is not aware about the fact the tax return needs to be transmitted to the IRS post preparation in order for being able to receive the IRS digital watermarked copy of Schedule 1 back in their e-mail.

During the e-filing process, most HVUT payers assume that they have completed the e-filing process right after they make the service fee payment using their credit/debit card. However, at times they forget the final step in submitting the prepared tax return to the Internal Revenue Service.

Still have doubts ? Reach our tax experts for your HVUT Form 2290 needs. Economic e-filing begins here as low as $7.99. It only consumes few minutes to e-file your federal HVUT Form 2290 and to receive the watermarked confirmation back in your e-mail.

Phone: (347) 515-2290 [Monday through Friday, until 5.30 P.M, Central Standard Time]E-mail:support@truckdues.com or simply chat with our tax representatives by logging on to our website www.truckdues.com