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When and How to File Heavy Vehicle Use Tax Form 2290

The Heavy Vehicle Usage Tax form is mandatory for all people who have heavy trucks that weight over 55,000 pounds and using on public highways.

What is the Heavy Vehicle Usage Tax?

The heavy vehicle use tax is charged to all individuals who own heavy trucks that weigh over 55,000 pounds using on public highways. The form 2290 tax is collected by the IRS for repair and maintenance of the public highways. The 2290 form needs to be filed by the due date to avoid penalties and interest.

When do I have to pay the HVU Tax?

For the tax period of July 1,, 2015 to June 30, 2015, if you own a taxable heavy truck or similar vehicle under your name that travels on public highways and weighs over 55,000 pounds you are required to file form 2290 tax to the IRS. During the tax period, you are supposed to file the HVU Tax in the month that follows your first month of usage/purchase of the truck. If the due date happens to be a Saturday, Sunday or a public holiday you can file your tax the following business day. If you need a time extension you can apply to the IRS for a time extension stating your valid reasons so you may be excused and do not have to pay penalties or fines. The 2290 Form is very important and the receipt acts as proof of registration of your vehicle. It is also required whenever you need to renew the registration of your vehicle.

How do I make payments?

It is recommended by the IRS that you pay and file your taxes electronically. E-filing has various distinct advantages like the reduction in usage of personal resources, expenditure on postal services and it also allows you to avoid any kind of processing errors. The e-filing system also helps the environment due to the completely paper free process and it can be done at any point of time by the due date as per your convenience. You can make all your payments through the Electronic Funds Withdrawal system that directly debits the amount you need to pay from your bank account. All you need to do is provide the IRS with relevant bank information and the tax amount will be deducted from your bank account by the due date. If you choose to file your tax through the post, you will have to wait for the receipt (Schedule I) as soon as you file your returns. Going online is preferred because it reduces the amount of time required to process and you can get your receipt much quicker.

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