Generally, you must file Form 2290, Heavy Highway Vehicle Use Tax Return, and pay the appropriate tax if you are registering in your name a heavy highway motor vehicle with a gross weight of 55,000 pounds or more. This 2290 Federal Vehicle Use Tax is already due for the Tax Year July 2020 through June 2021. August 31 was the due date for vehicles this is put to use from July 2020. Taxpayers generally must present the IRS Watermarked Schedule 1 receipt when registering a heavy highway motor vehicle with a state. Truck tax form 2290 is now due for heavy vehicles that is used from August 2020 for the first time in this tax period July 2020 – June 2021. September 30 is the deadline and 2290 has to be reported and paid for the vehicle. 

For vehicle purchases from a seller who has paid the tax for the current period: 

Privately purchased vehicles are bought from a private seller who has already paid 2290 taxes for the current year. In other words a used vehicle that is purchased from a private seller for which the 2290 taxes are paid in full for the current tax period. The 2290 tax and Schedule 1 of a purchased truck can not be transferred from one owner to another. You will have to file separately form 2290 and pay taxes on taxable vehicle. 

Buyer’s tax computation for a used vehicle privately purchased on or after July 1, 2020, but before June 1, 2021, when the buyer’s first use is in the month of sale. The tax on the buyer’s use of a vehicle after the purchase is prorated by multiplying a full tax period’s tax by a fraction. 

Example. On July 2, 2020, Linda paid the full tax period tax of $550 for the use of her 80,000-pound taxable gross weight vehicle. John purchased the used truck from Linda on September 9, 2020, and drove it on the public highway from Linda’s home to his own home the next day. Linda, the seller, can claim a credit or refund of the tax she paid for the 9 months after the sale (from October through June). Because of that, and that John’s first taxable use was to drive the truck to his home in the month of sale (September), his prorated tax is figured from the first day of the next month (October) instead of calculating it from September (the original first used month), through the end of the tax period, June 30, 2021. The due date of John’s Form 2290 doesn’t change, so he must file by November 2, 2020. Because October 31, 2020, falls on a Saturday, John doesn’t have to file until the next business day, November 2, 2020.

This applies for Privately purchased vehicles only, for used vehicles purchased from an individual or a private seller. Do NOT applies if you’ve purchased a vehicle from any other sources like in auction, leasing company, dealer, etc.

Reporting Privately Purchased Vehicle at TruckDues.com

It is easy and simple to report a privately purchased vehicle in TruckDues.com, at the vehicle information page you need to select “Was the vehicle purchased from a private seller?” and select the Purchase Month to calculate the tax. As per the IRS, the tax is suppose to be calculated from the first used month, in case of Purchased vehicle from a private seller the purchase month is not included while computing the tax. You may refer to the above stated example section for better understanding.

Missed August 31 Due Date?

For truckers who has missed this August 31 Due Date for vehicles first used in July 2020 can still report and pay the HVUT returns with the IRS at the earliest to minimize the late filing charges, interest on tax amount and penalty for late filing. Electronic filing is the best way to report the Federal Heavy Vehicle Use Tax returns with the IRS and to receive back the IRS watermarked Schedule 1 proof receipt instantly. Form 2290 is now due for vehicles that is used for the first time in August in this tax period July 2020 – June 2021. September 30 is the due date for the vehicles fist used in August. Choose electronic filing for fast and easy filing.