HVUT for Truckers: What is Form 2290?

If you own a truck or are planning to own one, we will discuss an important tax that truckers must pay. Truck drivers who change their tax status, the weight of their truck, or the size of their truck can use Form 2290 tax to report various changes. You don’t have to worry about completing and filing Form 2290 online if you follow these instructions.

The 2290 form has some important information!

What Is a 2290 Form in Trucking?

Truckers must file form 2290 for tax reporting purposes. Excluding highway usage, it calculates excise tax. Heavy Highway Vehicle Use Tax Return is reported using Form 2290. There are a few exceptions to this tax, but all trucks must pay it annually.

Heavy highway tax, HVUT (Heavy Vehicle Use Tax), truck tax, etc., are all names for this tax. If you operate a trucking business, you need to pay truck tax. If you don’t file your 2290 tax return, you will be penalized. A copy of the IRS schedule 1 that serves as proof of payment of 2290 tax should be produced mandatorily while updating the vehicle tag and registrations at the DMV.

What’s the Purpose of Form 2290?

Form 2290 serves the following purposes:

Tax claim:

  • Claim tax on a vehicle that is sold, stolen, destroyed or used for a short time (agriculture vehicles with a mileage limit of 7,500 miles or less) for which full tax has been paid
  • Exemption from taxation when less than 5,000 miles are expected to be driven (for agricultural vehicles less than 7,500 miles)

Calculate and pay tax that is:

  • A vehicle’s taxable gross weight increases during the period, and it moves into a new gross weight category
  • A vehicle used during the period that has a taxable gross weight that exceeds 55,000 pounds
  • During the period for which you completed Form 2290 for the vehicle for which the suspension statement was completed later, you must submit a form 2290 for this vehicle.
  • During the period, you acquired and used a taxable vehicle

In the event you acquire a non-taxable used vehicle, you must report the transaction.

How Do I File Form 2290?

Form 2290 can be filed in two ways. Two copies of Schedule 1 are also required in addition to the 2290 form. You will receive two copies of the tax return, one of which will be sent to the IRS and the other will be stamped and returned to you as a proof of tax payment.

In addition to mailing Form 2290 to the IRS, you can also mail the document to the Department of Treasury, without payment owing or if payment is made through EFTPS (discussed below).

To file Form 2290, you’ll need:

  • Your Employer Identification Number (EIN).
  • Determine the category of the vehicle based on its taxable gross weight.
  • The Vehicle Identification Number (VIN) the vehicle(s).

In the event you file Form 2290 by mail, you must include Form 2290-V along with your payment, as well as Form 2290.

You can also e-file your 2290 form online. The e-filing requirement is mandatory for truck drivers filing tax for 25 vehicles or more. You’ll need to know your EIN, VINs, as well as the vehicles’ taxable gross weight. For those who choose to e-file, using the IRS website will not be an option. Instead, they need to file through an IRS approved e-filing service provider.

In order to pay your HVUT tax electronically, you must choose a payment method. You can choose EFTPS, electronic funds withdrawal (direct debit) or debit/credit card. To enroll for EFTPS, you have to wait for five to seven business days.

As soon as the IRS accepts your Form 2290, you will receive a stamped Schedule 1 (if you mailed your application) or a watermarked Schedule 1 (if you filed electronically). The IRS watermarked Schedule 1 acts as a proof of payment of HVUT tax.x

How Much Does it Cost to File?

Individuals and paid preparers pay different rates for filing Form 2290. The cost for taxpayers for a single EIN is $29.99, while the cost for those with 25 or more vehicles is $59.99. The cost to file Form 2290 electronically as a paid preparer can be as low as $20.00 per Form 2290.

What Is the Deadline to File Form 2290?

Depending on the time you drive your truck, you need to file before the Form 2290 due date. For vehicles driven within the previous month, form 2290 must be filed and payment made by the last day of month following the month of First Use. You must pay or report any suspensions of truck taxes by this deadline. In addition, federal requirements apply, regardless of when the state is required to register, so make sure you consider the state’s deadline for registration.

During the last business day of a legal holiday, holiday weekend, or weekend, form 2290 must be filed no later than the next business day.

If you have any questions, please ask below!