Deadline Approaching for IRS Heavy Vehicle Use Tax 2290
The Heavy Vehicle Use Tax (HVUT) is a fee assessed annually on heavy vehicles operating on public highways at registered gross weights equal to or exceeding 55,000 pounds.
But why is there a HVUT? Based on the findings of the American Association of State Highway Officials (AASHO) road test, damage caused by heavy trucks was 160,000 times more damaging to a road surface than a 0.5 ton car. The funds collected through the Heavy Vehicle Use Tax are invested back into our nation’s transportation infrastructure to help repair the damage.
Each HVUT tax year runs from July 1st through June 30th of the following year. The deadline to send in your 2290 form for HVUT is August 31st, so file on time to prevent penalties and interest.
HVUT Filing Tips
- An employer identification number (EIN) is required to file the HVUT, so be sure to have yours as it takes a couple weeks to obtain a new one.
- States are required to obtain proof of HVUT payments when registering heavy trucks subject to the tax. Some states will not renew truck registrations without proof of HVUT payment at the time of registration and other states will allow a short grace period, after registration, in which to fax in a copy of your HVUT payment to your state’s licensing authority. If you fail to send in proof of HUVT payment to your relevant licensing authority before the end of their grace period, license plates can be suspended.
- 2290 forms are generally made available each July by the IRS.
- Be sure to keep your records for all taxable highway vehicles registered in your name for at least three years after the date is due or paid, whichever is later.
If you want help filing your 2290, use a trustworthy third-part, like Glostone Trucking Solutions, who are well-known in the industry and an authorized IRS e-file provider. For help, give us a call at 503-607-1088 or fill out the form below
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