Tax Calculation: Form 2290 Truck Tax

If you are looking for help or more information on how to calculate and pay this tax, look no further.


Calculating the Form 2290 Tax

Simply speaking, the HVUT is determined by the tax period length, gross weight of the vehicle, and the category of the vehicle. Here is a breakdown of the different factors.

  • 1. Tax Period Length: The tax year for these HVUT runs from July to June. If the vehicle is in service in July, it is taxed using the normal rate. If the vehicle begins service any time after July, then it is taxed by the partial year rates.
  • 2. Gross Vehicle Weight: This is the total weight of the fully equipped vehicle ready for service, the empty trailer weight, and the weight of the maximum load capacity for the vehicle in question.
  • 3. Vehicle Category: The taxable vehicles are either commercial or agricultural vehicles. Exempt vehicles include government trucks, blood transport vehicles, etc.,

Purpose of HVUT

The Heavy Vehicle Use Tax is assessed yearly on any vehicles weighing over 55,000 pounds which are driven 5,000 miles or more each year. The reason for this tax is to “level the playing field,” because heavy vehicles do more damage to the roads than smaller cars and trucks. This tax helps to maintain national highways, improve structures, and fund other things associated with the department of transportation.

Form 2290 Truck Tax Uses

IRS Form 2290 is a form that truck owners use to calculated and pay their HVUT. Additionally, if your truck is driven less than 5,000 miles (7,500 miles for agricultural vehicles), you can use this form to claim a suspension from the tax. Vehicles that are destroyed, stolen, or sold may qualify for a credit using Form 2290. Also, if your truck’s taxable gross weight decreases or increases to a different weight category, you can use this document to figure and pay the new required tax.

Filing Form 2290 Electronically With Our Services

If you don’t want to deal with the headache of IRS tables by yourself, consider using our software and services. This software will automatically calculate the taxes that you need to pay to ensure that you are submitting the correct amount to the IRS. We also offer an outstanding team of tax experts who are ready to help you calculate your tax, and E-file with the IRS.

As soon as you submit your Form 2290 electronically, the IRS will send us a copy of your schedule 1 with the IRS watermark, and we will in turn send it to you via E-mail. From there, it is as simple as printing out this form for registration or license plates use. Filing form 2290 does not have to be a headache or a hassle, and you can file confidently when you have the right software and people standing behind you. Allow us to help you with your Form 2290 today for your own peace of mind.

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