Have you owned a trucking industry? Are you operating a business using taxable vehicles? You need to pay 2290 Heavy Vehicle Use Tax to carry out business or trade using United States national Highways. Additionally, you need to report the HVUT paid by file Form 2290.
Still, using manual method to pay truck taxes? Don’t worry! We will let you know how to send 2290 road taxes to the IRS conveniently from your doorstep. You’ll get to know the various excise tax payment methods, and the key dates to pay the taxes to the IRS.
What are the various 2290 Highway Tax payment methods?
There are four methods to pay 2290 Heavy Vehicle Use Tax to the IRS. They are discussed below:
Electronic Funds Withdrawal Method
HVUT payment through the direct debit method is possible when e-filing IRS Form 2290. To make payment using the EFW method, the trucker must provide the bank account number of the saving or current bank account and routing transit number. Thus, the IRS debits the required tax amount directly from the filer account.
The IRS started accepting credit/debit payments for the tax year 2021-22. Filers can pay 2290 Heavy Vehicle Use Tax amounts through credit/debit cards by visiting the IRS website. Make sure that the payment processor charges around 2% of the tax amount as a transaction fee.
Electronic Federal Tax Payment System
The trucker must enroll their name before using the EFTPS method. Furthermore, you need to confirm this option on the selected e-file provider like Form 2290 filing and complete e-filing 2290 Form. Therefore, the trucker is responsible to pay highway tax through the EFTPS account within the deadline.
Check or money order
Excise taxes can be paid through check or money order either if you paper file or e-file Form 2290s. If you choose to pay through check or money order when e-filing, a payment voucher is generated. Then mail the check along with the payment voucher to the IRS address.
When is 2290 truck tax payment due to the IRS?
In general, there is no specific date to pay highway taxes to the IRS. Your 2290 truck tax will be due on the same day as your 2290 returns are due to the IRS. Furthermore, the deadline to file Form 2290 and pay road taxes for newly purchased vehicles will be on the last date of the following FUM. According to the IRS, the trucker tax year begins from July 1st and ends by June 30th of the following year. So, if you purchase a vehicle in the middle of the tax period i.e., September, then pay the highway taxes to the IRS on October 31, 2021. Apart from this, the trucker who puts their heavy vehicles on road every tax year must pay 2290 HVUTs by August 31st every tax period.
Can I pay 2290 road taxes in installments?
Yes, you can pay road taxes in installments to the IRS. As per the IRS, when you can’t pay full taxes within the deadline, you can apply for a payment plan. Through which you can pay truck tax amount in installments over a period of time. Furthermore, after completing and submitting the payment plan application, the IRS will notify the status of the payment plan instantly. Besides, the payment plans are of two categories i.e., short term and long term. For the short term, you need to pay taxes within 120 days. Long-term payment plans can be chosen for more than 120 days. Based on your tax situation you can choose and pay the taxes in installments.
How many days does the IRS take to debit the HVUT paid through EFW?
Once the IRS accepts 2290 returns you have processed, the United States of Treasury will deduct the truck tax amount directly from your bank. The amount is debited within 24 to 48 hours i.e., 1 or 2 days. Contact the IRS if the payment is processed after 2 days. Besides, if you face any difficulty when paying truck taxes using EFW, you can choose other HVUT payment methods.
Can you pay 2290 tax through check or money order or EFTPS after e-filing Form 2290?
Yes, you can pay 2290 road taxes through check or money order or EFTPS after e-filing Form 2290. The only thing you need to do is to confirm the method of payment when e-filing tax returns. For instance, if you have an EFTPS account, then you need to confirm the HVUT payment method with the e-file provider. Later you can pay the truck taxes to the IRS using an EFTPS account. Or else, you need to choose the check or money order method and continue file 2290 Form. Apart from these, you’ll receive 2290 schedule 1 immediately. Moreover, you should pay truck taxes within the due date to avoid penalties.
When do you use Form 2290-V?
As mentioned earlier, when you pay 2290 taxes using a check or money order a payment voucher is generated. The payment voucher generated is known as “Form 2290-V”. You’ll attach the payment voucher along with the check to pay taxes to the IRS. Henceforth, you’ll mail the payment voucher to the IRS and the check payable to the United States Department of Treasury.
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