Hello there truckers, this article is to remind you all that your Pro-rated HVUT Form 2290 is due by Feb 28, 2018 for the period beginning January 2018 through June 2018. As you are pretty aware of the fact Form 2290 is generally due by June and its payable until the end of August. Else, federal law states that Form 2290 must be filed on a vehicle by the last day of the month following the month of its first use. Continue reading
What is a Form 2290?
Form 2290 is the form that is been used to File & Pay the Heavy Highway vehicle Used tax also abbreviated to be HVUT which is a federal tax that is due annually and payments are made to the U.S. Department of Treasury. However, on this matter the Internal Revenue Service represents the show as they are solely responsible for the entire governance of this tax.
Who Must File?
Well when we call it a Heavy Highway Vehicle Used tax, it clearly states these taxes are only concerned with Heavy vehicle which must comprise a minimum total gross weight of 55000 lbs i.e., (The weight of the tractor+ weight of the Loaded Trailer) and the same has been used over the public highway for multiple purposes such as Commercial Hauling, Agricultural, logging & so on. However, the IRS has drafted guidelines to differentiate the tax dues amongst the nature of duty that each heavy vehicle performs.
When is the Form 2290 Due?
Federal law states that Form 2290 must be filed on a vehicle by the last day of the month following the month of its first use. Else, these taxes are generally due by June and its payable until the end of August of every year.
How much is the Tax amount by the way?
The Tax due varies upon the gross weight of a desired Vehicles and the distance traveled within a respective HVUT tax period. Below 55,000 pounds do not have HVUT because they do not qualify as a heavy vehicle. Vehicles between 55,000 and 75,000 pounds owe $100, plus $22 per 1,000 pounds over 55,000 pounds. Finally, for vehicles that are over 75,000 pounds the maximum HVUT is $550 per year.
Who is Exempt from HVUT?
Although it is rare, some Vehicles that fit the above description may be exempt from the HVUT and Filing requirements of HVUT Form 2290. To officially be exempt from filing Form 2290, the vehicle must be owned and operated by the following:
- The Federal Government
- The District of Columbia
- State or local government
- American National Red Cross
- Non-Profit Volunteer Fire Department, Ambulance Association, or Rescue Squad
- Qualified Blood Collector Vehicles
- Mobile Machinery that meets specifications for a chassis
- Indian Tribe Government (Only if the Vehicle is Used for essential Tribe or Government Function)
- Mass Transportation Authority (Only if granted certain powers normally exercised by the state)
Reach us back for any further assistance over the following mediums:
Phone: (347) 515-2290 [Monday through Friday, 9 A.M to 5 P.M, Central Standard Time]
Live chat with our tax representatives.
Have a Good One! See you over the next article.
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Did you ever encounter the moment when, just after it’s too late to do anything about it, you realize you messed something up? It’s always nice to know that you can go back and correct an error when you find one. In this article we are going to discuss on how to go about correcting an incorrect VIN that was accidentally reported over a Form 2290. Continue reading
Many truckers and trucking companies’ ends up making an overpayment towards their HVUT Form 2290 taxes due to various reasons likely, they would have been into the conventional way of paper mailing the Physical Form stapled with a payment and receives the proof of payment back in mail in a fortnight, however this doesn’t seem to be a trouble until it costs any individual owner operators or trucking firms an immediate registration. So, many truckers who anticipates a response beck from the IRS out of paper mail ends up e-filing too so there comes an over payment of taxes by both mediums. Continue reading
Truckers, kindly spare few minutes amidst of your busy on road schedule to read this article as this article will clearly explain you about the near term HVUT Form 2290 deadline which is due by Jan 31st, 2018. However, this deadline is only applicable for trucks which were purchased/re-purchased and been used on the road since December 2017. Continue reading
Hello there truckers, were here now with yet another HVUT deadline reminder for you. Earlier, as we informed you that Form 2290 is due now for vehicles first used since December 2017 as the Federal law states that a Form 2290 must be filed on a vehicle by the last day of the month following the month of its first use. On that basis, Jan 31, 2018 will be the due date to E-File your Form 2290 for vehicles which you were been using on the road since Dec 17. Continue reading
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The Form 2290 HVUT tax returns are due by the end of this month for vehicles that are into service beginning December 2017. Penalties for HVUT non-compliance are serious money; it is equal to 4.5 percent of total tax due, assessed on a monthly basis up to five months. Late filers who don’t make an HVUT payment also face an additional monthly penalty equal to 0.5 percent of total tax due. Additional interest charges of 0.54 percent per month accumulate as well. Continue reading