The Form 2290 is the IRS tax form that is used for when you need to file and pay the excise tax for the heavy highway vehicle you may drive for personal use or business use. This form is typically referred to as the Heavy Vehicle Use Tax, or HVUT. Professional truck drivers are one of the few groups of people who have to fill out and file this form. It is quite easy to take care of. Little information is actually required out of you to fill it out successfully. The instructions as to how you fill it out are listed below.
General Instructions for filling out Form 2290
This form is used to calculate and pay the taxes that accrue during the time a taxable gross weight of 55,000 pounds or more may have been transported. It should be required of you to keep record of the hours and miles you travel and what weights you carry each time, but for this reason specifically, be sure you are in fact keeping track of these things.
You are able to claim a rebate on excise taxes when the automobile that was driven was or is going to be used for 5,000 miles or less during that taxable time. The IRS gives a break on this, if you are driving far less than other drivers, you should be rewarded for that. This rebate can also be claimed on any vehicles that may have been damaged or stolen.
You are required to pay the due taxes if during that taxable time the gross weight that was transported was in an automobile augment and the motor vehicle comes in the new class. You also need to make sure to report acquirement of a used chargeable motor vehicle. This is important because the excise tax on these vehicles has been suspended.
Other stipulations of the Form 2290 (Schedule 1)
Schedule 1 of Form 2290 is used for bulky road vehicles; it is used to categorize vehicles driven by their size and identification (VIN). The IRS will stamp and return this sheet to the customer as a proof that payment was made and that they can now register their vehicle in any state. Past this form, there is the Form 2290-V, which is essentially a Payment Voucher. It is used to acclaim your highway vehicle use tax (HVUT).
You can report about all of the vehicles that are applicable for being taxed on this form. You do not need to fill out a Form 2290 for each vehicle that is being used to transport heavy and bulky items on the road. This is also the place to make the claim for rebate that does not require a separate form
You can do this online, and it is recommended that you do. You will save time and submit the form much quicker than you would if you were mailing it in. Your information is also easier to check when filling out the form online
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