Every trucker and trucking company owners are liable to pay the 2290 truck taxes every year for their heavy vehicles or highway motor vehicles to ensure smooth operations on the public highways. IRS encourages all the truckers to file their truck tax online as it is very easy for the IRS to process the 2290 tax reports and issue the approved schedule 1 copy.
Form 2290 Truck Tax
The IRS heavy truck tax season starts on July 1st every year, and all the truckers with a taxable heavy vehicle should report and pay their HVUT truck tax to the IRS using form 2290. The tax period is valid till June 30th of the following year.
Your vehicle should have a total weight of 55,000 pounds or more and should be estimated to run more than 5,000 miles on the public highways of the United States to come under the taxable category. The mileage should be more than 7,500 miles for agricultural vehicles to be eligible for form 2290 truck taxes. The owners of the taxable vehicles should report the 2290 truck taxes every year with the IRS and get the schedule 1 copy as the proof of payment to continue their operation.
Schedule 1 copy is mandatory for multiple purposes like DMV, registrations, insurance, etc. So, the truckers should not miss reporting form 2290 truck taxes each year for their heavy vehicles and get the schedule 1 copy as proof of payment. Or else they will be liable to penalties and late charges from the authorities and the IRS.
You should report the form 2290 to the IRS even if your vehicle does not come under the taxable category. You need not pay any taxes for that particular vehicle. You need to report it as a tax suspended vehicle as per the IRS regulations.
Suppose your tax suspended vehicle comes into the taxable vehicle category with its increase in taxable gross weight over 55,000 pounds or ran more than 5,000 miles (7500 miles for agricultural vehicles). You should file for an amendment to report and pay the 2290 tax due amount to the IRS. You should calculate from the month your vehicle became taxable to the end of the current tax period, which is June 30th, and pay the form 2290 truck taxes accordingly.
Form 2290 Taxes on Partial Period Basis
If you choose to purchase a new vehicle or operate your vehicle other than July(beginning of tax period), you should report your HVUT taxes to the IRS on a pro-rated or partial period basis.
Partial period taxes are calculated based on the first used month of your vehicle till the end of the ongoing tax period. For example, if you purchased a new vehicle or operated your taxable vehicle in March, you need to calculate and pay the form 2290 HVUT from March to June, which is the end of the current tax period. Then, you can stick to the usual tax period from July to next June to report your form 2290 truck taxes to the IRS.
Form 2290 Tax deadlines
As we all know, the general tax period starts on July 1st of every year and ends on June 30th of the following year. IRS starts accepting the 2290 trucking form on July 1st for processing and issuing the schedule 1 copy for the tax period. The deadline to report and pay the form 2290 is August 31st each year. If this date comes on a weekend or public holiday, then the last date falls on the next working day.
For the taxpayers paying their 2290 truck tax on a pro-rated or partial period basis, the deadline is the end of the following month of their first used month. If you first used your truck on the public highways in February, you should report and pay the form 2290 HVUT on or before March 31st.
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FAQs
What is the Total Gross Weight of a Heavy Vehicle?
Total gross weight is the total unloaded weight of the heavy motor vehicle or a truck that is fully ready for transportation services. It is the actual weight of the maximum load carried by that particular vehicle. The heavy vehicle should have a total gross weight of 55,000 pounds or more to become a taxable vehicle, and it is eligible for form 2290 truck tax payments.
What is a Logging Vehicle?
Logging vehicles are heavy motor vehicles or trucks used for transporting logs, lumber, and other goods from forests. These logging vehicles are taxed differently from other commercial vehicles in the form 2290 tax returns.
What are Agricultural Vehicles?
These vehicles are similar to logging vehicles, mainly used to transport agricultural goods like harvests, farm products, manures, etc., from farms or lands to production units. These vehicles are also taxed differently, similar to the logging vehicles from other heavy vehicles for heavy truck tax form 2290.
How do I know that my vehicle belongs in the taxable vehicle category?
Every trucker should check the total gross weight of their truck and estimate their mileage on the public highways before the start of the tax period to file Form 2290 to the IRS accordingly. If your truck’s total gross weight is more than 55,000 pounds and is estimated to run more than 5,000 miles (7500 for agricultural vehicles), it automatically falls under the taxable vehicle category. And you should report and pay the form 2290 in advance for the tax year.
What should I do if my tax suspended vehicle comes into the taxable vehicle category due to unavoidable reasons during the tax period?
If your tax suspended vehicle became taxable, that it is deemed to carry more than 55,000 pounds or expected to run more than the mileage limit, or it already crossed the mileage limit, you should file for a form 2290 amendment. You can report and pay the form 2290 truck tax from the vehicle’s first used month until the end of the current tax period and get the IRS schedule 1 copy accordingly.