It's that time of the year again to file your Form 2290, or the Heavy Vehicle Use Tax (HVUT) Return, for the tax period July 1, 2023 - June 30, 2024.
What is a Form 2290?
Form 2290 is the Heavy Vehicle Use Tax (HVUT) return.
Any registered and operating commercial vehicle bearing a gross weight of 55,000 lbs or more is subject to this annual tax.
Once you file your Form 2290, a Stamped Schedule 1 will be provided to you as your receipt for this tax. You're required to possess a physical copy to register your vehicles every year. Tax filing applications and websites will keep a duplicate of your Schedule 1 in your account, so you'll always have access to that, looking on the applications and/or website, of course.
This tax must even be paid anytime a replacement vehicle is added to your fleet for the remainder of that year.
When is Form 2290 due?
The federal government collects annually and uses HVUT fees for highway construction and maintenance. If you bring a taxable truck into operation during the present tax period (July 1, 2023 to June 30, 2024), you need to file Form 2290 by the last day of the month following the month of first use. For example, if you started driving your truck in July 2023, Form 2290 must be submitted by August 31, 2023. The fees are pro-rated.
How much is the Form 2290 tax?
HVUT fees are supported by the number of taxable vehicles you use and also the gross taxable weight of every vehicle.
The gross taxable weight is set by adding:
- The empty gross weight of the vehicle
- The unloaded weight of any attached trailers customarily employed in combination with the vehicle
- The heaviest load customarily transported
Fees start at $100 for a 55,000 lb vehicle (or $75 if it's a logging vehicle). Any taxable vehicle exceeding 75,000 lbs pays a maximum HVUT fee of $550 (or $412.50 if it's a logging vehicle). You can also use calculators like this one.
What do I need to file a Form 2290?
To complete Form 2290, have the following business and vehicle information available:
Business
- Your employer identification number (EIN). Note: You can't use your social insurance number.
- Business name
- Business contact information (mailing address, , email address, phone number)
Vehicle
- The vehicle identification number (VIN) of every vehicle.
- The taxable gross weight of every vehicle
- Suspended vehicle (if applicable)
How do I file Form 2290?
The easiest and preferred method is to e-file and submit Form 2290 online. It takes 10 to 15 minutes, and you'll receive a stamped Schedule 1 as proof of payment of the HVUT tax for all your taxable vehicles. Payment to the IRS will be processed by credit or debit card. Electronic filing will save personal resources (for example, time and postage) and reduce preparation and processing errors.
If you have a new EIN, we highly recommend going to your local tax office. The IRS is currently taking up one month to process EINs and get it in their systems. Until they process your EIN, you cannot get a Form 2290. If you go in person, the IRS can process your EIN right away and get you a Form 2290.
If you use a fleet of 25 vehicles or more, you're required to e-file. For smaller operations, the IRS also encourages you to file the HVUT online, although it's not mandatory.
You need to file Form 2290 through an approved e-file provider (as opposed to e-filing forms directly with the IRS). We recommend the following providers:
- Tax2290 from Comdata
- 2290Online from J.J. Keller
- eForm 2290
Once You've paid your tax, what's next?
All states require that you provide a Schedule 1, proof of Form 2290 payment for registration of any heavyweight commercial use vehicle.
You will need a copy of a Schedule 1, stamped with the e-file logo or signed by the IRS, for registration and renewal of tags. You must also carry a copy of a stamped or signed Schedule 1 in your vehicle at all times.
You cannot use a form that is not stamped or signed.
Failure to grant proof of HVUT payment will lead to penalties and/or suspension of auto registration halting operations. At that time, your business can not provide services on U.S. public highways.
The penalty for late payment is 4.5% of the whole HVUT tax, which accrues monthly for up to five months. If you also fail to file on time, a further monthly penalty of 0.5% of the total tax due is enforced, with interest charges of 0.54% per month.
Other relevant articles:
An Owner-Operator's Guide to Taxes
IFTA Stickers and IFTA Reporting
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