Hey, it’s Amber from ExpressTruckTax, and I cannot believe that it is already August. It seems like the days are flying by, and kids are already going back to school. It’s just craziness. Half of the office here is ready for fall and winter, and I am clinging to every second of summer that I can get. So, um, happy August!
With August comes, are you ready for it, the 2290 deadline? I know August 31st is coming, and just like the days are going really fast, this month will fly. And before you know it, it will be the deadline. Some common questions that we are getting right now are, “I made a mistake,” and again, there are several types of mistakes that can be made when you’re filing the 2290.
ExpressTruckTax has put a lot of return summaries, check your information, make sure it’s correct before you transmit to try to avoid mistakes. However, if you make a mistake, there are ways to fix most mistakes. Some mistakes cannot be fixed, and you have to call the IRS, which is a super big bummer.
But most mistakes, like a VIN correction, changing the name or the address, the wrong weight—those corrections can be made directly through your ExpressTruckTax account. When you go to Express Truck Tax, if you’re on a computer, you would just start a new return, and then there’s the 2290 amendments box over on the left that you need to select.
Then you would select which correction you need to make, which amendment you need to make, and then you transmit the return to the IRS. And then within, again, just a couple of minutes, you get that stamped Schedule 1 back with whatever the new VIN number or the correct weight.
You can also do, you know, let’s say you accidentally filed as a suspended vehicle, which is a category W. You can also do an amendment to take that to a taxable vehicle. So there’s lots of different things that you can do in your ExpressTruckTax account.
This is why we have a full support team ready to help you because these… This is complicated, and sometimes mistakes do happen. And so if you have questions about your 2290 or about how to correct a mistake that was made, give our support team a call. We’re here Monday through Friday, 8:30 to 5:30 Eastern. Our phone number is 704-234-6005. We also have email available, and, listen, we are here.
But the next several weeks will be super, super busy, and so if you cannot get through phone, send us an email, support@expresstrucktax.com, and we also have that live chat feature on the website as well. And so if you’re not able to get through phone, send us an email or do live chat.
It comes directly to us as well, and so we’re able to help you through making those corrections or just giving you the step-by-step guide to how to fix this. Again, thank you so much for filing with Express Truck Tax. We appreciate you and what you do. And let us know how we can help. Thanks so much! Bye.
The ultimate ExpressTruckTax filing giveaway is here! Simply file your 2023-24 Form 2290 by August 25th, 2023, and you’ll automatically be entered to win a BlueParrott B650-XT Noise Canceling Bluetooth Headset!
As the market-leading Form 2290 e-file provider, ExpressTruckTax has been the go-to solution for trucking companies for the past decade. And now, on top of all the benefits you’ll get from choosing us, you’ll also have the chance to score a great prize!
On August 28th, 2023 at 12PM EST, we’ll announce the lucky winner live on our Facebook page. So what are you waiting for? Enter for your chance to win a brand-new Bluetooth headset!
RULES & REGULATIONS
You must transmit a 2023-24 Form 2290 by midnight on August 25th, 2023 to enter to win.
By entering an ExpressTruckTax Giveaway (each, a “Sweepstakes”), you will be bound by these Terms & Conditions and you acknowledge that you satisfy all eligibility requirements. “ExpressTruckTax” means Span Enterprises LLC or any of its affiliates.
Eligibility
Open to individual legal residents of the 50 United States or the District of Columbia who have an ExpressTruckTax account and are 18 years of age or the legal age of majority in their state of residence prior to the date of entry. Employees of ExpressTruckTax, its affiliates, and their immediate family members are not eligible to participate.
Prize(s) and Winner Selection Method
ExpressTruckTax will award a prize to one or more individuals who file their 2023-24 Form 2290 on ExpressTruckTax.com between 7/1/2023-8/25/2023. Potential winner(s) will be selected at random from among all eligible entries received. The odds of winning depend on the number of eligible entries received. If you are a winner, an e-mail notification will be sent to you.
You must have an ExpressTruckTax account and have filed a 2023-24 Form 2290 before August 25, 2023, in order to enter or receive a prize. Limit one entry per person and household using only one ExpressTruckTax.com account per Sweepstakes. Prize(s) will be fulfilled by the Sponsor. Prize(s) will be delivered by ExpressTruckTax.com.
Each prize will be awarded “as is” and without warranty of any kind, express or implied (including, without limitation, any implied warranty of merchantability or fitness for a particular purpose). If you win a prize, you may not transfer, assign, or redeem the prize for cash. ExpressTruckTax may substitute a prize with a prize of equal or greater value.
How to Enter. You will automatically be entered to win a prize when you transmit a 2023-24 Form 2290 before August 25, 2023. If you do not wish to automatically be entered into the sweepstakes, you must notify us by email at support@expresstrucktax.com. If you choose to promote your entry (including that you filed your Form 2290) via social media or other channels, you should disclose your connection to the Sweepstakes. For example, it may be sufficient to include a statement such as #ExpressTruckTaxGiveaway.
This giveaway is not associated with Facebook.com or Twitter.com.
Other Sweepstakes. Additional Terms. Sponsor, together with ExpressTruckTax, reserves the right to modify or cancel a Sweepstakes at any time. Sponsor and ExpressTruckTax and its affiliates are not responsible for: (a) lost, misdirected, late, or incomplete entries or for inaccurate entry information; (b) any operation or transmission error, theft, unauthorized access to, or alteration of, entries; or (c) damage to any computer or device resulting from downloading Sweepstakes materials. Sponsor, together with ExpressTruckTax, may disqualify any individual found to be: (x) tampering with a Sweepstakes; (y) violating these Terms & Conditions; or (z) acting in an unsportsmanlike or disruptive manner or with intent to threaten or harass any person. Incomplete and robotic, automatic, programmed or similar entries will be disqualified. The authorized subscriber of the account used to enter a Sweepstakes at the actual time of entry will be deemed to be the participant and must comply with these Terms & Conditions in the event of a dispute as to entries submitted by multiple users having the same e-mail account.
If any errors occur in the selection of a potential winner, or if more prizes are claimed than specified, Sponsor or ExpressTruckTax may award the prize(s) by random drawing from among all eligible claimants. All prizes made available for a Sweepstakes may not be awarded in the event Sponsor or ExpressTruckTax does not receive a sufficient number of qualified and eligible entries for an applicable Sweepstakes.
Miscellaneous. Each Sweepstakes is governed by the laws of the United States. By entering a Sweepstakes, you agree (for yourself and your heirs) that Sponsor, ExpressTruckTax, and each of their respective affiliates and agents, and any entity involved in any aspect of the Sweepstakes (all aforementioned parties are collective, the “Released Parties”) will have no liability, and will be held harmless from and against liability, loss, injury or damage to property or person, including death, and reasonable attorney’s fees and court costs, due in whole or in part, directly or indirectly, by reason of the acceptance, possession, use or misuse of a prize or participation in the Sweepstakes, even if caused or contributed to by the negligence of any of the Released Parties.
Hey guys, so one of the great features that we added several years ago was the prepaid credit wallet, and that’s directly on your dashboard up in the right-hand corner. There is an option there to purchase credits ahead of time and get a 10% discount.
If you’re a service provider, we give you a 20% discount because of the volume of returns that you’re filing. So, again, service providers (CPAs) get a 20% discount. If you’re a business owner and you’re coming in to file once a year, you’re going to get a 10% discount on your filing fee.
One of the things that we’ve added is the option for you to purchase prepaid credits in the filing process. So once you select how many credits you want to add, those credits never expire, so they will always be in your account, and you can use them on future returns. So it doesn’t have to be the annual renewal; it can be if you come in, let’s say you add a truck, and you need to file another single-vehicle return, you can use that credit on another single-vehicle return.
So, um, that option is there for you, and it gets you a 10% discount on your current return that you’re filing, plus a 10% discount on the next returns that you file there after that. So that is a great option for you to save money and again save time because when you use those credits, you’re not checking out every time. One other thing is that it’s saving you money on those credit card processing fees.
You don’t have to enter those in every time when you purchase a number of prepaid credits. Let’s say you purchase two or five; you’ve got them in your account, and then you just go through the process. You don’t have to check out every time; you’re just going to use those prepaid credits until they’re gone, then you’ll be prompted to buy more prepaid credits. So this is a great option to save you time and money by purchasing prepaid credits and then using those credits on your future filings.
Every year, truck drivers across the country pay the Heavy Vehicle Use Tax (HVUT). But what exactly is the HVUT, and how does it work?
We answer these questions and more in our detailed look at highway use tax. Read on to learn more about what every truck driver should know before paying their HVUT.
What is Heavy Vehicle Use Tax?
The Heavy Vehicle Use Tax is an IRS tax based on the weight of your vehicle. It specifies that if you have a vehicle with a gross weight of 55,000 pounds or more and you drive it on public roadways, you must pay the HVUT. This is done by filing Form 2290 annually.
But what’s the point of highway use tax anyway? Essentially, it’s a way for owner-operators to pay a bit more for the upkeep of the national highway system. It evens the playing field since heavy trucks add more wear and tear to the roadways than other vehicles.
Calculating Heavy Vehicle Use Tax
To calculate your HVUT, you must first determine your taxable gross weight.
What is Taxable Gross Weight?
Your taxable gross weight is the combination of:
The actual unloaded weight of your motor vehicle fully equipped for service
The actual unloaded weight of trailers or semi-trailers fully equipped for service that are typically used with the vehicle
The weight of the maximum load typically carried on the vehicle and on the trailers or semi-trailers
Taxable gross weight categories
The HVUT varies based on your taxable gross weight category. For example, the HVUT payment for a vehicle with a gross weight between 55,000 to 75,000 pounds is $100. If your truck is over 55,000 pounds, you’ll need to add $22 for every 1,000 pounds that your vehicle weighs (with a cap at 75,000 pounds).
However, if your vehicle has a gross weight of over 75,000 pounds, the maximum HVUT payment you’ll make is $550.
A breakdown of tax rates
Vehicles below 55,000 pounds
No tax
Vehicles 55,000 pounds
$100
Vehicles over 75,000 pounds
$550
Vehicles between 55,000 and 75,000 pounds
$100 plus $22 for every1,000 pounds over 55,000
Penalties for non-compliance
If youmiss filing Form 2290 and making your HVUT payment on time, you could be penalized 4.5% of the total HVUT taxes due — this penalty can accrue for up to five months.
If you fail to pay the full amount of HVUT taxes due, you could also face a penalty of 0.5% of the unpaid tax per month, with a maximum penalty of 25%.
Tax Compliance for Heavy Vehicle Use Tax
To avoid IRS penalties, file Form 2290 and pay your taxes on time. You can do this by either e-filing or mailing Form 2290.
When to file Form 2290
The deadline to file Form 2290 and pay your HVUT is the last day of the month following the “first used month” of the vehicle. (For example, if you get a new truck in December and put it on the road, you must file your 2290 tax form by January 31st).
However, if you continue to operate your truck on public highways, you’ll file following the fiscal year. Since the tax year begins on July 1st and ends on June 30th, the deadline to file Form 2290 for most truckers is August 31st.
How to e-file Form 2290
E-filing is the easiest way to pay your HVUT. It’s also the only method the IRS will allow if you’re filing 2290 forms for more than 24 vehicles.
When you e-file, your return will be processed quickly, you’ll get your stamped Schedule 1 in a matter of minutes, and you’ll get your refund faster — usually within three weeks of the IRS receiving your tax return.
To e-file Form 2290 and pay your HVUT, you’ll need to do the following:
Gather your information – This includes your Employee Identification Number (EIN), Vehicle Identification Number (VIN), and taxable gross weight of each vehicle.
Choose a 2290 e-file provider and file – You cannot e-file Form 2290 on irs.gov. You must use a participating third-party provider like ExpressTruckTax.
If you paper file your Form 2290, you’ll need to print the return, fill it out, and mail it to the IRS, along with your check. This usually takes the IRS four to six weeks to accept your return.
If you’re sending Form 2290 with a full payment that is not drawn from an international financial institution,mail it to the Internal Revenue Service, P.O. Box 932500, Louisville, KY 40293-2500.
Amendments and Corrections to Form 2290
Form 2290 amendments should be filed when the information for the filed vehicle changes in these three ways:
There’s an increase in taxable gross weight
The mileage use has exceeded its limit
The VIN is incorrect
With ExpressTruckTax, we make it easy to file your 2290 amendments by accurately calculating the taxes due to the IRS so that you can get your updated Schedule 1 within minutes.
ExpressTruckTax can quickly file the increase in taxable gross weight and report the tax due for vehicles that exceed the mileage use limit. We also offer free VIN corrections to anyone who filed their original 2290 with us. Get started today with ExpressTruckTax.
Related Questions
Q: How does HVUT work?
A: The HVUT is an IRS tax that’s based on the weight of your vehicle. It’s paid by filing Form 2290 each year.
Q: What is the minimum weight requirement for HVUT?
A: If you have a vehicle with a gross weight of 55,000 pounds or more andyou drive it on public roadways, you must pay the HVUT.
A: If you miss the deadline to file your Form 2290 returns or don’t pay your HVUT taxes, you could face significant IRS penalties and interest charges.
Q: Who is exempt from paying HVUT?
A: Vehicles exempt from paying the HVUT include commercial vehicles that drive fewer than 5,000 miles a year, agricultural vehicles that drive fewer than 7,500 miles a year, vehicles not considered highway motor vehicles, and vehicles used for the collection of blood.
It’s time again for all truck owners and operators to file their 2023-24 Form 2290. This annual requirement might seem like a daunting task for many, but fear not! With ExpressTruckTax, e-filing has become the go-to method for millions of truckers. ExpressTruckTax is leading the way in making the process faster, easier, and more secure than ever before.
What is Form 2290?
Before we dive into the benefits of e-filing with ExpressTruckTax, let’s quickly recap what Form 2290 is all about. Form 2290 is a federal tax form used to report and pay Heavy Highway Vehicle Use Tax (HVUT). This tax is imposed on heavy vehicles with a gross weight of 55,000 pounds or more, and it helps fund and maintain the nation’s highway infrastructure.
The Evolution of E-Filing
Gone are the days of paper forms and long waits at the IRS office. Thanks to ExpressTruckTax, truck owners can now electronically file Form 2290, making the process much smoother and more efficient. E-filing has gained immense popularity over the years due to its numerous advantages, such as:
1. Speed and Efficiency: E-filing with ExpressTruckTax allows you to submit your Form 2290 within minutes. Traditional paper filing could take weeks, but with the click of a few buttons, your tax return is transmitted to the IRS instantly.
2. Accurate Tax Calculations: Manual calculations can lead to errors, which might result in penalties. ExpressTruckTax’s e-filing platform comes equipped with built-in calculators, ensuring that you provide accurate information and pay the correct amount of tax.
3. Time and Money Savings: E-filing eliminates the need for postage and reduces the chances of costly mistakes. It also saves you valuable time, which you can invest back into your trucking business.
4. Instant Proof of Filing: Once your Form 2290 is successfully transmitted, ExpressTruckTax provides you with a stamped Schedule 1, the proof of payment, within minutes.
5. Enhanced Security Measures: One of the main concerns with electronic filing is data security. However, ExpressTruckTax prioritizes data protection and employs advanced security protocols to safeguard your sensitive information.
Why Choose ExpressTruckTax?
Among the numerous e-filing service providers, ExpressTruckTax stands out as a reliable and user-friendly platform that caters specifically to truck owners and operators. Here are some compelling reasons to choose ExpressTruckTax for your Form 2290 e-filing:
1. US-Based Dedicated Customer Support: Should you encounter any issues during the e-filing process, ExpressTruckTax’s customer support team is readily available to assist you through phone, email, or chat in English and Spanish!
2. Pay your IRS tax with a Credit or Debit Card during the filing process: No need to re-enter your credit card information! Pay your filing fee and IRS tax payment in ONE easy transaction.
3. Multi-Platform Accessibility: Whether you’re using a computer, tablet, or smartphone, you can access ExpressTruckTax from anywhere, at any time, and complete your filing with ease.
4. Affordable Pricing Options: ExpressTruckTax offers competitive pricing, ensuring that you only pay for the features you need.
Conclusion
In conclusion, e-filing your 2023-24 Form 2290 with ExpressTruckTax is undeniably the only way to go. The advantages of speed, accuracy, convenience, and enhanced security make it the smart choice for truck owners and operators. Embrace the digital revolution, save time and money, and rest assured that your tax filing is in capable hands with ExpressTruckTax.
If you own or operate a truck, it’s important to become familiar with trucking taxes, especially highway taxes for trucks. Staying compliant with IRS and state tax laws is imperative to running and growing your business so it can be successful and thrive.
Avoiding tax payments is the biggest tax mistake a business can make while miscalculating trucking taxes can also cause expensive and time-consuming problems. But understanding trucking taxes, like highway taxes, can be difficult to navigate.
To help you out, we’ve put together a comprehensive guide to cover everything you need to know about highway taxes for trucks — from the various types and how they work to the impact they make on the trucking industry.
A Comprehensive Guide to Trucking Taxes
Independent truck drivers and owner-operators pay several federal and state taxes. Some of the most common taxes in the trucking industry are:
Estimated tax
Self-employment tax
State income tax
Federal income tax
Highway taxes for trucks also include the following:
IFTA fuel tax
Heavy vehicle usage tax
Excise tax
A Closer Look at Estimated Tax & Self Employment Tax
If you’re self-employed and expect to owe at least $1,000 in taxes, you must make estimated tax payments. These quarterly payments include self-employment tax and federal and state income tax.
Knowing how much to put aside for estimated tax payments can be tricky. But generally, you’ll want to allocate about 25% to 35% of your monthly earnings.
For a more exact number, use Form 1040-ES to figure out your estimated tax.
Your income tax will likely fall into the 10% to 12% income tax bracket, and your self-employment tax should be roughly 15.3% of your net earnings (this includes a 12.4% social security tax and a 2.9% Medicare tax).
Each quarter, you can pay your federal tax estimates online or via the IRS mobile app (if you have an electronic federal tax payment system account, you can make your payments there). Many states also let you pay your estimated taxes online.
An Overview of State Income Truck Taxes
Forty-three states and the District of Columbia have state income taxes. The seven states that do not impose individual income taxes are Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming.
The definition and rules of taxable income vary by state. For example, New Hampshire and Tennessee residents only pay tax income from dividends and interest.
Truck driver taxes also vary from state to state. For example, in Washington, independent contractors and owner-operators could be subject to public utility tax, business and occupation tax, retail sales tax, and use tax. Again, check your state’s government website for more details.
A Look at Federal Income Tax — Form 1099 for Truck Drivers
Whether you work as an independent contractor or you hire one out for your trucking business, you’ll still have to report how much money was paid. That’s where 1099 forms for truck drivers come into play.
1099 forms for employers
If you paid an independent contractor more than $600 in a tax year, you’ll need to report the compensation you gave them on Form 1099-NEC.
To file a 1099 form, you’ll include the following:
Your business name
Your business address
Your EIN
Your independent contractor’s name
Your independent contractor’s EIN or social security number
Your independent contractor’s address
If you need your independent contractor’s information, you can request it through a W-9.
There are also additional federal and state details you’ll need to know, depending on where you live. This could include state income, payer state number, and withheld state tax.
1099 forms for truck drivers
As an independent trucking contractor, you’ll need client 1099s to report the income you earned during the tax year.
If you haven’t been making estimated quarterly payments, then you’ll likely end up owing the IRS for state and federal taxes, social security, and Medicare.
Understanding the International Fuel Tax Agreement
The International Fuel Tax Agreement (IFTA) collects fuel taxes by interstate commercial carriers and redistributes them. It was adopted in 1996 to make transferring fuel taxes between states and provinces easier.
IFTA also helps repair and maintain roads and highways in each state and province so they are safe and reliable, ultimately decreasing the risk of vehicle damage for motor haulers.
Who qualifies for IFTA?
You must have an IFTA license and decals if you:
Have a “qualified motor vehicle”
Travel between two or more of the member jurisdictions (48 of the United States and 10 Canadian provinces)
A vehicle that’s qualified for the IFTA tax has:
Two axles and a gross vehicle weight exceeding 26,000 pounds
Two axles and a registered weight exceeding 26,000 pounds
Three or more axles, regardless of weight
A combination weight exceeding 26,000 pounds
IFTA base jurisdictions
Once you obtain an IFTA license, you can travel through all IFTA jurisdictions. You’ll also be required to submit one fuel tax return per quarter to your base jurisdiction.
A base jurisdiction is where your truck and information are registered. It’s also where your operational control and records are maintained. It should be the state where your qualified motor vehicle is traveling within the fleet, accruing mileage.
*Alaska, Hawaii, District of Columbia, Yukon Territory, Northwest Territory, and Nunavut are not included in IFTA.
How to apply for an IFTA license
If your trucking business requires an IFTA license, you must submit an application in the state where your company is located. It’s important to find the IFTA requirements and vehicle registration process for your state.
To apply for an IFTA license, you’ll need the following information:
USDOT number
Registered business name
Mailing address
Federal business number
Once your application is processed, you’ll receive two issued IFTA decals for your vehicle for the current year. Both of these will need to be displayed on each side of your truck cab.
Note: IFTA licenses and decals expire each year on December 31st. You have until March 1st of the following year to renew them.
Obtaining an IFTA license and decals is important for running your trucking business. If you don’t have an IFTA license and decals on your vehicle, you could face penalties. Not displaying your IFTA decals can also result in fines of up to several thousand dollars.
Filing a quarterly IFTA return
IFTA must be reported by the last day of the month, after the end of each quarter. For example, here are the typical dates for each reporting quarter.
Quarter
Period
Deadline
First Quarter
January to March
April 30
Second Quarter
April to June
July 31
Third Quarter
July to September
Oct. 31
Fourth Quarter
October to December
Jan. 31
Note: If the due date falls on a weekend or public holiday, the due date will be pushed to the next business day. For example, the first quarter payment for 2023 was pushed to May 1 since April 30 fell on a Sunday.
To complete an IFTA quarterly tax return, you’ll need the following information:
Total miles, taxable and nontaxable, traveled by the licensee’s qualified motor vehicles in all jurisdictions, IFTA and non-IFTA, including trip permit miles
Total gallons of fuel consumed, taxable and nontaxable, by the licensee’s qualified motor vehicles in all jurisdictions, IFTA and non-IFTA
Total miles and taxable miles traveled in each member jurisdiction
Taxable gallons consumed in each member jurisdiction
Tax-paid gallons purchased in each member jurisdiction
Current tax rate for each member jurisdiction
Heavy Highway Vehicle Use Tax: What You Need to Know
The Heavy Vehicle Use Tax is an IRS tax based on the weight of your vehicle. If you have a vehicle with a gross weight of 55,000 pounds or more andyou drive it on public roadways, you must pay the HVUT. This is done by filing Form 2290 annually.
Calculating Heavy Vehicle Use Tax
To calculate your HVUT, you must first determine your taxable gross weight, which is the combination of the following:
The actual unloaded weight of your motor vehicle fully equipped for service
The actual unloaded weight of trailers or semi-trailers fully equipped for service that are typically used with the vehicle
The weight of the maximum load typically carried on the vehicle and on the trailers or semi-trailers
Taxable gross weight categories
The HVUT varies based on your taxable gross weight category. For example, the HVUT payment for a vehicle with a gross weight between 55,000 to 75,000 pounds is $100. If your truck is over 55,000 pounds, you’ll need to add $22 for every 1,000 pounds that your vehicle weighs (with a cap at 75,000 pounds).
However, if your vehicle has a gross weight of over 75,000 pounds, the maximum HVUT payment you’ll make is $550.
A breakdown of tax rates
Vehicles below 55,000 pounds
No tax
Vehicles 55,000 pounds
$100
Vehicles over 75,000 pounds
$550
Vehicles between 55,000 and 75,000 pounds
$100 plus $22 for every1,000 pounds over 55,000
The Importance of Highway Tax for Trucks
In the past few decades, the volume of truck weight has grown significantly, and the trucking industry is only going to continue to grow in the coming years. According to the Department of Transportation, the freight tonnage carried by trucks is expected to increase by 50% between 2002 and 2035.
Since heavy trucks add more wear and tear to the roadways, the heavy highway vehicle use tax evens the playing field. By collecting HVUT payments, the IRS is able to funnel money back into the country’s transportation funding. By helping to repair roads and maintaining the nation’s highways, the HVUT can help with the following:
Reducing car crashes
Lowering fuel and insurance costs
Easing traffic congestion
Increasing air quality by decreasing energy consumption
Strengthening the country’s economic productivity
Tax Compliance for Heavy Vehicle Use Tax
To avoid IRS penalties, file Form 2290 and pay your taxes on time. You can do this by either e-filing or mailing Form 2290.
When to file Form 2290
The deadline to file Form 2290 and pay your HVUT is the last day of the month following the “first used month” of the vehicle (for example, if you get a new truck in December and put it on the road, you must file your 2290 tax form by January 31st).
However, if you continue to operate your truck on public highways, you’ll file following the fiscal year. Since the tax year begins on July 1 and ends on June 30, the deadline to file Form 2290 for most truckers is August 31st.
How to e-file Form 2290
E-filing is the easiest way to pay your HVUT. It’s also the only method the IRS will allow ifyou’re filing 2290 forms for more than 24 vehicles.
When you e-file, your return will be processed quickly, you’ll get your stamped Schedule 1 in a matter of minutes, and you’ll get your refund faster — usually within three weeks of the IRS receiving your tax return.
To e-file Form 2290 and pay your HVUT, you’ll need to do the following:
Gather your information – This includes your Employee Identification Number (EIN), Vehicle Identification Number (VIN), and taxable gross weight of each vehicle.
Choose a 2290 e-file provider and file – You cannot e-file Form 2290 on irs.gov. You must use a participating third-party provider like ExpressTruckTax.
If you paper file your Form 2290, you’ll need to print the return, fill it out, and mail it to the IRS, along with your check. This usually takes the IRS four to six weeks to accept your return.
If you’re sending Form 2290 with a full payment that is not drawn from an international financial institution,mail it to the Internal Revenue Service, P.O. Box 932500, Louisville, KY 40293-2500.
Amendments and Corrections to Form 2290
Form 2290 amendments should be filed when the information for the filed vehicle changes in these three ways:
There’s an increase in taxable gross weight
The mileage use has exceeded its limit
The VIN is incorrect
Penalties for non-compliance
If youmiss filing Form 2290 and making your HVUT payment on time, you could be penalized 4.5% of the total HVUT taxes due — this penalty can accrue for up to five months.
If you fail to pay the full amount of HVUT taxes due, you could also face a penalty of 0.5% of the unpaid tax per month, with a maximum penalty of 25%.
Understanding Federal Excise Taxes for Truck Drivers
If you’re new to the trucking industry, the first tax you’ll likely face is the federal excise tax.
Excise taxes are imposed on the sale of certain goods or services, including the purchase of fuel, heavy trucks and highway tractors, tobacco, and more. Federal excise taxes apply to trucks, tractors, truck trailers, and semi-trailers. They must be paid to the federal government after purchase.
Federal excise taxes for truck drivers fund the Highway Trust Fund. These payments are then used for road repairs and to expand the U.S. highway system.
Federal Excise Tax Form 720
Anyone involved in the sales of goods or services, such as fuel, heavy trucks, and other goods in Part I and Part II of Form 720, must pay excise taxes using Form 720, Quarterly Federal Excise Tax.
This form must be submitted for every quarter until you file a final return. The deadline to file Form 720 is the last day of the following month of the quarter’s end month (see the IFTA quarterly table above).
How to Calculate Federal Excise Tax On Trucks
The IRS imposes a 12% federal excise tax on the first retail sale of truck chassis and bodies, truck trailers and semi-trailer chassis and bodies, and tractors used for highway hauling along with a trailer or semi-trailer.
The tax only applies to truck chassis and bodies suitable for use with a gross vehicle weight of 33,000 pounds or more. It does not apply to a truck trailer and semi-trailer chassis and bodies suitable for use with a trailer or semi-trailer with a gross vehicle weight of 26,000 pounds or less. Tractors with a gross vehicle weight of 19,500 or less and a gross combined weight of 33,000 pounds or less are also exempt from paying the 12% federal excise tax.
How to claim tax credits on Federal Excise Tax using Form 8849
Form 8849, Claim for Refund of Excise Taxes, is a tax form used to claim credits when a vehicle is stolen, destroyed, or sold. You can also claim credits if you overpaid taxes. There are six schedules available to be attached to Form 8849:
Schedule 1 – Nontaxable Use of Fuels
Schedule 2 – Sales by Registered Ultimate Vendors
Schedule 3 – Certain Fuel Mixtures and the Alternative Fuel Credit
Schedule 5 – Section 4081(e) Claims
Schedule 6 – Other Claims
Schedule 8 – Registered Credit Card Issuers
Note: You must only attach the schedules on which you are claiming a refund. Keep in mind that you cannot file Schedules 2, 3, 5, and 8 with any other schedules on Form 8849. You must file each of these schedules with a separate Form 8849.
ExpressTruckTax supports Schedule 6
If you want to claim refunds of excise taxes, use Form 8849 Schedule 6. Alternatively, you can use those funds to pay your taxes for the current year. When you e-file Excise Tax Form 2290, our system auto-generates Form 8849 Schedule 6 if your tax credits exceed your HVUT.
Highway Tax for Trucks – Final Thoughts
Staying on top of highway use taxes not only keeps you compliant with IRS and state tax laws, but it also benefits the trucking industry as a whole.
By contributing to the nation’s transportation funding, you’re ensuring that roads are repaired and maintained. This, in turn, helps improve how efficiently goods are moved and ultimately strengthens the nation’s economic productivity.
For more information about highway tax for trucks, visit ExpressTruckTax and check out the resources below:
As a responsible truck owner-operator, it is essential to stay compliant with the IRS regulations by filing your Heavy Vehicle Use Tax (HVUT) Form 2290 accurately and promptly. However, this task can be daunting and time-consuming. Fortunately, with the assistance of ExpressTruckTax, the number one IRS-authorized e-filing solution, the process becomes incredibly efficient. In this blog, we’ll walk you through the streamlined steps to file your Form 2290 quickly and hassle-free with ExpressTruckTax.
Step 1: Register or Log in to your ExpressTruckTax Account
Begin by creating an account with ExpressTruckTax if you’re a first-time client or log in if you already have an existing account. We offer a simple and intuitive registration process, requiring only basic information to set up your account.
Step 2: Choose your Filing Period and Enter Vehicle Information
Select the tax year and the appropriate tax period for which you need to file your Form 2290. Typically, the tax year for Heavy Vehicle Use Tax runs from July 1st to June 30th of the following year. Choose whether you are filing for the current tax year or a previous tax year. You’ll also need to enter the required details about the vehicles you report on Form 2290. You’ll need information like the Vehicle Identification Number (VIN), taxable gross weight, and the first-used month of each vehicle during the tax period.
Step 3: Calculate Your HVUT and Choose Your IRS Payment Method
Once you have entered all the necessary vehicle details, ExpressTruckTax will automatically calculate the Heavy Vehicle Use Tax for each vehicle based on the provided information. We ensure accurate calculations, minimizing the risk of errors and potential IRS penalties. Next, select your preferred payment method to pay the calculated HVUT amount to the IRS. ExpressTruckTax, drivers and fleet managers can simplify the HVUT payment process and streamline their tax compliance responsibilities by choosing to pay the IRS tax due via credit card.
Step 4: Transmit to the IRS
After verifying all the information, review your Form 2290 for accuracy. Once you are confident that everything is correct, transmit your form directly to the IRS using our secure e-filing system. ExpressTruckTax will provide an IRS stamped Schedule 1 as proof of filing your Form 2290, which will be sent to your registered email within minutes.
Step 5: Receive your Stamped Schedule 1
Within minutes of filing your Form 2290, you will receive the IRS stamped Schedule 1 in your email, confirming your successful HVUT filing. You can also access your stamped Schedule 1 anytime by logging into your ExpressTruckTax account.
Filing your annual Form 2290 does not have to be a cumbersome and time-consuming process. With ExpressTruckTax, you can efficiently file your Heavy Vehicle Use Tax, saving both time and effort. The user-friendly platform guides you through each step, ensuring accurate calculations and prompt transmission of your form to the IRS.
Stay compliant and worry-free with ExpressTruckTax, the trusted e-filing solution for truck owners and operators. Get started today and experience the ease of electronic filing with ExpressTruckTax!
As an owner-operator, it’s essential to consider all the tax implications of your truck, including heavy vehicle tax deductions. Understanding the ins and outs of tax deductions, benefits, and credits for your heavy vehicle can save you and your business considerable money.
From Section 179 Deductions and Bonus Depreciation to writing off maintenance and repair deductions, here’s everything you need to know about heavy vehicle tax deductions.
Tax Credits and Benefits for Heavy Vehicles and Equipment: Section 179
The Tax Cuts and Jobs Act (TCJA) of 2017 changed how depreciation can be deducted. With the new tax law, truck drivers now have two options for heavy vehicle tax deductions: Section 179 or Bonus Depreciation.
What’s the difference between Section 179 and Bonus Depreciation? Let’s explore the differences:
How does Section 179 work?
The Section 179 deduction is a small business tax deduction used for capital assets — typically vehicles and equipment. It lets you write off the entire cost of your item immediately instead of depreciating it over time.
For example, if you spent $50,000 on a piece of heavy equipment, you can write off the entire purchase price for the current tax year instead of deducting it for five years at $10,000 a year, for example.
The whole point of Section 179 is to encourage small business owners to make more expensive purchases and, in turn, help stimulate the economy.
Qualifying for Section 179
To qualify for Section 179, you must purchase your heavy vehicle or equipment and put it into service on the year you are filing for. This means if you bought your truck in late 2023 but didn’t start using it for your business until 2024, you’ll have to wait to claim the Section 179 deduction for your 2024 tax returns.
Other stipulations include the following:
The heavy vehicle must be purchased (not leased).
The vehicle can’t be bought from someone related to you.
If using the vehicle for both personal and business use, you must use the vehicle for more than 50% of your business.
While Section 179 has a complicated set of exceptions for vehicles, non-personal heavy-weight vehicles intended for business are eligible for a full deduction. These vehicles include:
Semi-trucks, tractor-trailers, and dump trucks
Heavy construction equipment like forklifts
Vehicles with a fully enclosed compartment and no seating behind the driver’s seat (like a cargo van)
Vans that seat nine or more passengers (i.e., an airport shuttle)
To claim the Section 179 deduction on your tax returns, you must include a description of your heavy vehicle, its cost for business use, and the amount of Section 179 you’re claiming. This deduction is made on Part 1 of Form 4562.
Limits to Section 179
Section 179 has important limits, such as a cap to the total amount that can be written off. For example, in the 2022 tax year, you can expense up to $1,080,000 of eligible property. For 2023, this deduction limit will increase to $1,160,000.
There’s also a cap on the total amount of equipment that can be purchased. For 2022, this limit is $2,700,000. And for 2023, the cap is $2,890,000. This means the deduction begins to be reduced on a dollar-for-dollar basis after the total amount is spent.
You also can’t deduct more money than you make in a year. So, if you have a net income of $100,000 (before taking the Section 179 deduction into consideration) and you purchased $110,000 worth of deductible property, your deduction will be limited to $100,000.
At this point, you can take regular depreciation on the remainder of your assets.
Tax Credits and Benefits for Heavy Vehicles and Equipment: Bonus Depreciation
Bonus Depreciation is usually taken after the cap for the Section 179 deduction is met. Available for new and used vehicles and equipment, bonus depreciation lets you write off an additional first-year depreciation on eligible property.
After the TCJA was passed, the potential value of Bonus Depreciation increased significantly — but only for a limited time. The Bonus Depreciation rate was expanded to 100% for qualified property in service through 2022. After that, the amount dropped by 20% for 2023 and will continue to drop at 20% until 2027, when the program will close.
That means the Bonus Depreciation rate is 80% for 2023, 60% for 2024, and so on, until 2027, unless Congress extends it.
What’s the Difference Between Section 179 and Bonus Depreciation?
While both Section 179 and Bonus Depreciation allow for serious deductions for a heavy vehicle in service, they also differ in the following ways:
The Section 179 deduction is capped by the IRS ($1,160,000 in 2023) and is reduced by the dollar amount if it exceeds the IRS threshold ($2,890,000 in 2023). However, there is no annual deduction limit for Bonus Depreciation.
Section 179 is typically more flexible than Bonus Depreciation. With Section 179 depreciation, you can deduct any amount you want as long as it’s within the IRS threshold set that year. You can also allocate which assets/vehicles get the deduction. Bonus Depreciation, however, requires that you write off all vehicles and take the entire tax break at once. You don’t get to pick and choose which assets/vehicles you want to deduct.
Section 179 is limited to the amount of taxable income, but Bonus Depreciation can exceed taxable income and create a net loss to be carried forward.
While qualifications, deduction limits, and investment limits change yearly, Section 179 is an indefinite part of the IRS tax code. Bonus Depreciation, on the other hand, is set to end on Dec. 31, 2026.
Keeping records for Section 179 deductions and Bonus Depreciation
You must keep detailed records of your vehicle usage — like mileage logs, receipts, invoices, etc. — to qualify for the Section 179 deduction or Bonus Depreciation.
These records will back up your business use claims of your vehicles in the event you’re ever audited by the IRS.
Claiming Heavy Vehicle Tax Deduction: Maintenance and Repair Expenses
Since your truck is not a personal-use vehicle, you can deduct all the expenses you’ve made to maintain or repair it throughout the tax year. For example, you can make deductions for the following costs:
Oil changes
Regular checkups
New tires
Routine and emergency maintenance
Truck parts
Cleaning supplies
Loan interest (if you financed the purchase of your truck and trailer)
The deductions for the maintenance and repair of your vehicle will be made on your Schedule C, which you will file along with Form 1040 in April every year.
Other vehicle maintenance deductions for Schedule C
In addition to the costs it takes to maintain and repair your truck, you’ll also come across other vehicle-related expenses that you can deduct from your Schedule C, including the following:
Load-related tools – Deduct any equipment needed for your trucking business, like bungee cords, chains, ratchet straps, duct tape, tarps, and locks.
GPS systems – Write off any navigation system you use while driving your truck for work.
Association dues – If you’re part of a union or other trucking association, you can deduct any required fees you’ve made to belong to that group.
Liability insurance – While your health insurance will be deducted on a separate form (Form 1040), Schedule C is where you’ll count your premiums for auto/cargo liability and property damage insurance you’re required to have on your truck.
Parking and toll fees – If you encounter any parking or toll fees while driving your truck for work, you can also count these as a deduction on Schedule C.
Claiming the IRS Commercial Clean Vehicle Credit
Beginning in 2023, the Commercial Clean Vehicle Credit will be available for qualified heavy-duty electric vehicles. According to the IRS, this credit will equal the lesser of:
15% of your basis in the vehicle (30% if the vehicle is not powered by gas or diesel)
The incremental cost of the vehicle
The maximum credit is $7,500 for qualified vehicles with gross vehicle weight ratings (GVWRs) under 14,000 pounds and $40,000 for all other vehicles.
While the IRS has not yet released information on how to claim the Commercial Clean Vehicle Credit (as of Tax Day 2023), it will apply to vehicles purchased on or after Jan. 1, 2023. Keep checking the IRS website for the latest details.
Claiming Additional Heavy Vehicle Tax Deductions
There are also additional heavy vehicle tax deductions, credits, and benefits you can take following IRS guidelines for other tax forms.
Heavy vehicle tax deductions: Form 1040
If you’re an independent contractor or owner-operator and pay for your own health, dental, and vision insurance, you can count this as a deductible — just not as a business expense. Instead, you’ll deduct your health insurance separately (for you and your dependents) on Schedule 1 Form 1040.
Heavy vehicle tax deductions: IFTA
If you have a qualified motor vehicle and travel between two or more of the member jurisdictions (48 of the United States and 10 Canadian provinces), you must have an International Fuel Tax Agreement (IFTA) license and decals. IFTA reports are filed quarterly and are separate from your annual taxes.
You can count the fuel taxes and costs you pay on the road toward IFTA as part of your tax deductions.
Heavy vehicle tax credits: Form 2290
In certain circumstances, you can also claim a tax credit for heavy vehicles on your Form 2290.
For example, if your truck is registered as a Heavy Highway Motor Vehicle and it was stolen, destroyed, sold, or did not exceed mileage credit, you can count it as a tax credit.
Similarly, if your truck is registered as a heavy vehicle and you use it for 5,000 miles or less (7,500 miles or less for agricultural purposes), it will also qualify as a tax credit.
Form 8849 Schedule 6 is the IRS form used to claim a refund of excise taxes. There is no deadline to file this return. You can also claim credits using this return if you’ve overpaid in taxes.
Filing Form 8849 Schedule 6 with ExpressTruckTax
E-filing Form 8849 is easy with ExpressTruckTax. Here’s how you can easily claim your excise taxes with our help:
Create or sign in to the ExpressTruckTax account
Choose Form 8849 and fill in the necessary information
Pay for our services and transmit your return to the IRS
The IRS will issue a refund via check and send it to the address mentioned on the return. It can take up to six weeks to receive a refund.
When using ExpressTruckTax to file your 2290 forms, we automatically generate your Form 8849 when the credits on your Form 2290 exceed the tax you owe. We also offer bundle pricing so that you can E-File both Form 2290 and Form 8849 for one low price.
Why wait? Start e-filing with ExpressTruckTax today!
Hey everyone, now that the 23-24 tax year has begun, we are getting a lot of questions about how to add another truck to the stamped Schedule 1. So, let’s say that you’ve already filed your 23-24 Form 2290, and you get a new truck or you add a truck to the fleet or whatever the case might be, how do I add that to my stamped Schedule 1 since it’s already been accepted? The answer for this is pretty simple when it comes to filing the Form 2290. You just need to file a new 2290 for that vehicle.
Now, this is not talking if you sold, destroyed, you know, that whole deal where you’re claiming a credit. This is just as if you’re adding a new truck to your fleet. You just file a new 2290, and you choose the first use month that that truck goes on the road.
So let’s say it’s going to go on the road in August, you would choose August just as the first used month, or November or December, whatever month that truck goes on the road. That’s going to get that prorated tax for that vehicle the next year when you file your 2290. You’ll put it together with all of your other trucks in your fleet, and they’ll all be listed on one stamped Schedule 1.
So, adding a truck to your fleet is not difficult. You just start a new 2290 with ExpressTruckTax. You have that one-page option there for e-filing for a single vehicle. Super easy, fill in questions one through six, file the 2290. You get your stamp schedule one back with that vehicle listed there, and then you can get the plates for that new truck.
Now, if you’re talking about adding a credit or claiming the credit, that’s a different process, and I have other videos for that process. But to simply add a truck to your fleet or add a truck to your 2290, you just need to file a new 2290, select the first use month, enter the information for that truck, and you’re good to go.
Form 2290 is an IRS federal form used to calculate and report Heavy Vehicle Use Taxes (HVUT) every year. The money from this tax is then distributed back into the states for highway maintenance.
But who needs to file 2290 forms? And what’s the easiest way to do it? Online? In the mail? For answers to these questions and more, we’ve put together the ultimate guide to filing your 2290 forms.
Who Needs to File the 2290 Form?
If you have a vehicle with a gross weight of 55,000 pounds or more and are using it on public roads, you must file Form 2290.
For example, trucks, truck tractors, and buses designed to carry a load over public highways will have to file 2290 forms. However, smaller trucks, like vans, pickup trucks, and panel trucks likely will not have to file a Form 2290.
How is Form 2290 enforced?
You have to file your 2290 forms to get back a stamped Schedule 1. This paper is what you need to renew your tags. If you are leased with a company, they’ll also want to see that you have a stamped Schedule 1.
Pro tip: Keep a copy of your stamped Schedule 1 in the cab of your truck in case you get pulled over or need to show it to the Department of Transportation (DOT).
What is the HVUT & Why is it Important?
The Heavy Vehicle Use Tax is an annual truck tax that the IRS imposes based on the weight of your vehicle. It is a significant part of funding the upkeep of roadways in the U.S. Since heavy trucks add more wear and tear to the nation’s highways than other motorists, the HVUT evens the playing field. Owner-operators of heavy vehicles pay a little more for the upkeep of the national highway system through the HVUT.
Who has to pay the HVUT?
You must pay the HVUT if:
The vehicle is registered in your name
Your vehicle has a gross weight of 55,000 pounds or more
Your vehicle is being used on public roadways/highways
What is the taxable gross weight of a vehicle?
The taxable gross weight of a vehicle is determined by adding these three things:
The actual unloaded weight of your motor vehicle fully equipped for service
The actual unloaded weight of trailers or semi-trailers fully equipped for service that are typically used with the vehicle
The weight of the maximum load typically carried on the vehicle and on the trailers or semi-trailers
What does ‘actual unloaded weight’ mean?
The actual unloaded weight of a truck is simply the empty weight of the vehicle. If your truck is equipped to tow a trailer or a semi-trailer, the weight will be the truck and trailer combined.
What does ‘fully equipped for service’ mean?
To add the weight of a truck fully equipped for service, you will include the body of the vehicle, all accessories, and the equipment attached to or carried by the truck. You’ll also include the truck’s entire supply of fuel, oil, and water.
However, fully equipped for service does not include the driver or the equipment used in handling, protecting, or preserving cargo. It also does not count any special equipment like an air compressor or crane.
How to calculate and make HVUT payments
The HVUT varies based on the taxable gross weight category. For example, the HVUT payment for a vehicle with a gross weight between 55,000 to 75,000 pounds is $100. And, if your truck is over 55,000 pounds, you’ll need to add $22 for every 1,000 pounds that your vehicle weighs (with a cap at 75,000 pounds).
So, if you have a truck that weighs 60,000 pounds, your HVUT payment would be $210 ($100 + $22 x 5).
However, if your vehicle has a gross weight of over 75,000 pounds, the maximum HVUT payment you’ll make is $550.
HVUT Payment Breakdown
Vehicles below 55,000 pounds
No tax
Vehicles 55,000 pounds
$100
Vehicles over 75,000 pounds
$550
Vehicles between 55,000 and 75,000 pounds
$100 plus $22 for every1,000 pounds over 55,000
When Should You File the 2290 Form?
Form 2290 is an annual truck tax that you will have to file every year. The deadline to file is the last day of the month following the “first used month” of the vehicle. This means you have a two-month window to file for all of your trucks over 55,000 pounds.
For example, if you get a new truck in December and put it on the road, you must file your 2290 tax form by Jan. 31. If the due date falls on a Saturday, Sunday, or a legal holiday, you will file by the next business day.
However, if you’re continuing to operate your truck on public highways, you’ll file following the fiscal year. Since the tax year begins on July 1 and ends on June 30, the deadline to file Form 2290 for most truckers is August 31.
How to File the 2290 Form
You can either e-file or mail your 2290 forms. No matter which method you choose, you’ll need to gather the following information:
Your Employee Identification Number (EIN)
Your name – this must match the name on your EIN
The Vehicle Identification Number (VIN) of each vehicle
The taxable gross weight of each vehicle
Note: If you don’t have an EIN, you need to apply for one since you can’t use your social security number to file Form 2290. Keep in mind that you’ll need to allow four weeks for your new EIN to be established in the system before filing your 2290 forms.
How to e-file Form 2290
E-filing is the most common and easiest way to file your Form 2290. It’s also the only method the IRS will allow if you’re filing for more than 24 vehicles.
Not to mention that when you e-file, your return will be processed quickly. This means you’ll get your stamped Schedule 1 in a matter of minutes. And you’ll get your refund faster, usually within three weeks of the IRS receiving your tax return (even sooner if you have your refund directly deposited into your banking account).
To e-file Form 2290, you’ll need to do the following:
Gather your information – collect all the personal details listed above
Choose a 2290 e-file provider and file – You cannot e-file Form 2290 on irs.gov. You must use a participating third-party provider like ExpressTruckTax
If you miss the deadline to file your Form 2290 returns or pay your HVUT taxes, you could be hit with significant IRS penalties and interest charges.
For example, if you fail to file your Form 2290 returns by the due date, you could be penalized 4.5% of the total HVUT taxes due — this penalty can accrue for up to five months.
If you fail to pay the full amount of HVUT taxes due, you could also face a penalty of 0.5% of the unpaid tax per month, with a maximum penalty of 25%.
So if your unpaid HVUT liability was originally $500, it would increase to over $700 by the end of the five-month period.
Not only do these penalties quickly add up, but the registrations of your vehicles will also be suspended. And, in a worst-case scenario, the IRS could seize your assets to make up for your tax debt.
How to claim tax exemptions
There are several vehicles exempt from paying the HVUT. These vehicles include the following:
Commercial vehicles (including suspended vehicles) that clock fewer than 5,000 miles for the year
Agricultural vehicles that drive fewer than 7,500 miles for the year
Vehicles that are not considered highway motor vehicles (i.e. vehicles specifically for off-highway transportation)
Vehicles used for the collection of blood
Not sure whether you’re exempt from paying the HVUT? Our support team at ExpressTruckTax can answer any questions you have about filing Form 2290. As the market-leading e-file provider for Form 2290, we ensure you have all the information you need to file your return on time. In fact, with ExpressTruckTax, you can file your Form 2290 return instantly with the IRS and get your stamped Schedule 1 in minutes.
Related Questions
Q: How do I file Form 2290 online?
A: The only way to file Form 2290 online is through an IRS-approved e-file provider, like ExpressTruckTax. You cannot file Form 2290 on irs.gov.
Q: When is the deadline to file Form 2290?
A: The deadline to file Form 2290 is the last day of the month following the “first used month” of the vehicle. If you have been operating your vehicle throughout the fiscal year, your deadline will likely be Aug. 31.
Q: What is the penalty for late filing Form 2290?
A: If you are late to file Form 2290, you could be penalized 4.5% of the total HVUT taxes due for up to five months. If you fail to pay the full amount of the HVUT payments you owe, you could also face a penalty of 0.5% of the unpaid tax per month (maxed at 25%).
Q: How do I claim a tax exemption for my logging truck?
A: You must file Form 2290 through an approved e-file provider to claim a tax exemption for your logging truck.
Q: What is the difference between Form 2290 and Form 8849?
A: Form 2290 is for reporting and paying your HVUT. It must be filed every year by Aug. 31. Form 8849, on the other hand, is for claiming a refund or credit for HVUT that was overpaid or paid for a vehicle sold or destroyed before June 30. It can be filed at any time during the tax year.
