Form 2290 e file | Form 2290 Online Filing | Form 2290 Schedule 1 | IRS Approved e file Provider
Form 2290 Amendment | VIN Correction | Form 8849

Use Of IRS Tax Form 2290

Get Started For Free!

Use Of IRS Tax Form 2290

HVUT is the annual tax assessed on heavy vehicles that operate on public highways and the taxable gross weight is equal to or more than 55,000 pounds. For vehicles over 75,000 pound, the maximum HVUT is $550 per year. Bureau of Motor Vehicles (BMV) requires the proof of payment of HVUT each year and the non-compliance leads to penalty. The tax period for HVUT begins on July 1 every year and ends on June 30 the next year.

Who is required to pay HVUT?

if a taxable highway motor vehicle is registered in your name at the time of its first use during the period and the vehicle has a taxable gross weight of 55,000 pounds or more and it is expected to exceed the mileage above 5000 miles (7500 miles for Agricultural & Logging vehicles), the business is required to pay the HVUT to IRS.
If the business plans to drive less than 5000 miles (7500 miles for Agricultural & Logging vehicles) in the tax period, they can file the vehicle as Tax-Suspended vehicle and no tax will have to be paid. However, filing for Tax-Suspended vehicle is mandatory.

What is Taxable Gross Weight of a vehicle?

The Gross Taxable Vehicle Weight can be determined by adding together the actual unloaded weight of the vehicle, trailer, and semi-trailor with the weight of the maximum load generally carried on the vehicle.

What is the penalty for not filing HVUT?

The IRS may impose Penalties for multiple reasons on Form 2290 filing. Penalties will be estimated if you fail to file HVUT returns or pay taxes within the due dates. HVUT Penalties may also be imposed if there are any false or fraudulent returns. These penalties are also in addition to the interest charged on late payments.
Penalties for late filing or late payment of HVUT may not be imposed for a valid reason. If you file after the HVUT due date, you need to attach an explanation with the return for the delay.

About PRECISE2290

PRECISE2290 (Powered by SYRUSH Corporation) is a leading IRS-authorized e-file service provider offering you the best cloud-based solutions to perform online filings of Form 2290 - Schedule 1, Form 8849 - Schedule 6 (other claims), and Form 2290 Amendments. We are instrumental in providing new style of e-filing through wizard guided navigation to make the whole filing process error free, quick and easy. PRECISE2290 is a Maryland based business committed to provide e-file services to the small,medium and large truckers at a very competitive service charge. We have a very flexible pricing for tax professionals who can use the multi-tenant solution to support their hundreds of trucker clients through one account. We have expertise in providing cloud-based online solutions and ensure 24x7x365 availability in a very secured environment monitored by the security experts.

SALES INQUIRIES
240-308-5907
EMAIL US
support@precise2290.com
OUR ADDRESS
PO BOX 702, Germantown, MD 20875