Form 2290 Heavy Highway Vehicle Use Tax Online Reporting
IRS Tax
Form 2290, the heavy vehicle use tax reporting form.
Form 2290 is also called a federal heavy highway vehicle use tax return or HVUT in short.
Any highway motor vehicle, registered or required to be registered in
your name, with a taxable gross weight of 55,000 pounds or more, is subject to
the HVUT. The tax period begins on July 1 and
ends on June 30, each year. For newly purchased vehicles, these taxes are due by
the last day of the month following the month the vehicle was put on the road
for operation.
IRS Tax Form 2290 and its purpose:
While reporting 2290 with the IRS, you can have the following
action items
·
Use Form 2290 to report and
pay 2290
dues on any highway motor vehicles used during the
period with a taxable gross weight of 55,000 pounds or more.
·
Use Form 2290 also to claim
suspension or exemption from the tax when a vehicle is expected to be used
5,000 miles or less (7,500 miles or less for agricultural vehicles) during the
period.
·
Use Form 2290 to report and
pay taxes on a vehicle reported suspended and later exceeded the mileage use
limit during the period. Under 2290 Amendment
on mileage use limit exceeded.
·
Use Form 2290 to report and
pay the tax due if any, during the period, the taxable gross weight of a
vehicle increases and the vehicle falls into a new category. Under 2290
Amendments on increase in taxable gross weight of the
vehicle.
·
Use Form 2290
to claim a refund / credit for tax paid on vehicles
that were destroyed, stolen, sold, or used 5,000 miles or less (7,500 miles or
less for agricultural vehicles).
·
Use Form 2290 to report tax
when you acquire or buy a used taxable vehicle, and also claim
refund on a used taxable vehicle traded out (sold) during
the period.
Form 2290 Schedule 1 “Proof for Payment” is used for the following actions.
·
To report all vehicles for
which you are reporting tax (including an increase in taxable gross weight) and
those that you are reporting suspension of the tax by category and vehicle
identification number (VIN).
· As proof of payment to
register your vehicle(s) (unless specifically exempted) in any state. Use the
copy of Schedule
1 stamped and returned to you by the IRS for this
purpose.
Electronic Filing for IRS Tax Form 2290
Electronic filing is simple and safe, easy and quick. IRS has
stopped send out printed Form 2290 as a token of informing you the due dates.
When it is July of a tax year your 2290 tax form
is automatically falls due. Electronic filing can get your return processed
faster than any other way of filing.
Electronic filing is required for each return reporting and paying
tax on 25 or more vehicles. Tax-suspended vehicles (designated by category W)
aren’t included in the electronic filing requirement for 25 or more vehicles
since you aren’t paying tax on them. However, all taxpayers are encouraged to
file electronically. Electronic filing generally allows for quicker processing of your return. A
stamped Schedule 1 can be available within minutes after filing and acceptance
by the IRS.
