HVUT is the Heavy Highway Vehicle Use Tax paid yearly to the IRS for operating heavy vehicles weighing around 55,000 pounds or more on the public highways. The gross taxable vehicle weight is calculated using the following guidelines:
Small, medium and large truckers who operate heavy vehicles of taxable gross weight equal to 55,000 pounds and more 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.
Below is the information required to file IRS HVUT Form 2290,
You need to report the Heavy Highway Vehicle Use Taxes and file 2290 annually in the tax period which 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.
Electronically: File Form 2290 online through any electronic return originators (ERO), an intermediate service provider (ISP), transmitter, and/or any IRS approved e-file provider such as ExpressTruckTax.com. To know more information on e-file, visit the IRS website at www.irs.gov/efile or visit www.irs.gov/trucker.
Easily e-file Heavy Highway Vehicle Use Tax with ExpressTruckTax and get the HVUT reporting completed with no manual tax calculations.
Paper: Paper file the Form 2290 to the IRS address if not filed through online. If you did not pay the tax using the Electronic Funds Transfer or Electronic Federal Tax Payment System (EFTPS), mail Form 2290-V and your check or money order with Form 2290.
The penalty for failing to file the IRS Form 2290 by August 31st is equal to 4.5% of total tax due, charged every month up to five months. Late filers also meet an additional monthly penalty equal to 0.5% of the total tax due. Other interest charges of 0.54 percent per month collect as well.
