Federal Tax form 2290 is used to file Heavy Vehicle Use Tax return, which is generally referred as Form 2290. The Federal Heavy Use Tax is for the heavy vehicles with the gross weight of 55,000 lbs or more and uses the public highways for transportation. The IRS insists the taxpayers to e-file Form 2290 when filing 25 or more vehicles using the IRS 2290 Form.
What is the Due Date for Filing Form 2290?
The tax period of HVUT tax returns starts from July 1st and ends on August 30th and the due date is August 31st of every year. If the due date falls on Saturday / Sunday or a national holiday, then then the filing can be done on next business day. However, file Form 2290 by the last day of the following month of the first use month of the heavy highway vehicle on the public highway. When you need to file for multiple vehicles that are used more than a month, then you need to file separate Form 2290 for each month.
Who is Required to File HVUT Form 2290?
If you are an owner or operator of a heavy vehicle with the taxable gross weight of 55,000 pounds or more, you need to file Form 2290 electronically and get the stamped Schedule 1 from the IRS. When you need to register a highway motor vehicle in your name under state, District of Canadian, Columbia or Mexican law at the period of the vehicle’s first use month during the tax period, you are liable to file Form 2290 online.
What is the Required Information to E-file IRS Form 2290?
In order to file the HVUT 2290 tax online, you require your business details such as business name, address, Employer Identification Number (EIN) and the details of an authorized person. Note that you must have an EIN before filing the IRS form 2290. If you do not have a EIN, apply for it immediately.
The tax filer needs to produce the vehicle details such as Vehicle Identification Number (VIN) and the gross taxable weight of the vehicle. The gross weight of the heavy vehicle and the category determines the tax amount. When opting for a direct debit payment to the IRS, get the details of routing and the account number.
HVUT Form 2290 Uses
- Check and pay the due amount on heavy highway vehicle during the tax period whose gross weight of the vehicle is 55,000 pounds or more.
- Pay the due amount on a heavy vehicle for which the suspension is completed on another Form 2290 but the vehicle exceeded the mileage use limit later during the tax period.
- Pay the outstanding tax due when the taxable gross weight of the vehicle increases and falls under a new category,
- Claim the credit for suspension when the vehicle is used within the mileage use limit of 5,000 miles or less (7,500 miles for agricultural vehicles) during the tax period.
- Claim credit for sold, stolen and destroyed vehicles or used 5,000 miles or less (7,500 miles for agricultural vehicles) during the tax period.
- Report used vehicle acquisition for which the tax is suspended.
- Pay the tax due for the acquired and used taxable vehicle during the tax period.