Have you owned a heavy vehicle? Does it weigh more than 55,000 pounds? Then you need to file the Heavy Vehicle Use Tax Form 2290 with the IRS. The IRS mandates every trucker who uses heavy vehicles over 5,000 miles on public highways within the United States file the HVUT return.
Getting confused? We will let you know by providing 2290 instructions for the tax year 2021-22. Additionally, you’ll get to know about how to calculate due dates, who must file, and who are exempted in the filing.
What is 2290 Form used for?
Uses of the HVUT 2290 Forms are discussed below:
- Truck owners can pay Heavy Vehicle Use Tax for using taxable vehicles with a gross weight of 55,000 pounds or more on public roads within the US.
- Can claim credit or refund for the taxes paid previously using 2290 Tax Form.
- Individuals can carry out VIN correction easily using the incorrect VIN present on the previous 2290 Form.
- Easily report amendments such as an increase in mileage limit or gross weight of the vehicle.
- Helps in figuring and paying out the taxes for the acquired or used vehicles.
How to calculate HVUT Form 2290 due date?
In general, the truckers tax year begins from July 1st and ends by June 30th of the following year. So, annually you need to file 2290 Forms and pay road taxes by August 31st. Apart from these, if you purchased a new vehicle, then deadlines depend on the First Use Month of the vehicle. You need to file truckers Form 2290 and pay taxes by the last date of the following of the vehicle’s first use on public highways.
John purchased a heavy vehicle weighing 65,000 pounds on July 1st, 2021. July will the vehicle’s first use on public highways. Hence, John needs to file IRS 2290 Form between July 1st to August 31st, 2021.
If suppose, James purchases an additional truck in any month other than July. Then James must file a separate 2290 Form for the months the vehicle will be in service.
Who must file 2290 Tax Form?
As per the IRS guidelines, any individual who owns a heavy vehicle and operates a business or trades in the United Nations of America must file 2290. Besides, the heavy vehicles’ gross weight must exceed 55,000 pounds to pay truck taxes to the IRS. Moreover, whether the individual is an LLC, individual, partnership, etc are responsible to file the tax form. There is no specific exemption rule for filing a 2290 Form for an LLC. On the other hand, the vehicle which drives on US national highways for 5,000/7,500 miles or more in a tax period is required to be registered by filing 2290 return.
Who can file HVUT 2290 exemption?
Following vehicle owner can file 2290 exemption:
- Individual who is treated as a subsidiary of the parent corporation.
- A business that remained independent from its owner.
- Any taxable vehicle that is registered twice.
- Heavy vehicles are operated under dealer tags, licenses, or permits.
- Logging vehicles specifically used for transporting harvest products from forest sites like timber etc.
- Taxable vehicles owned and operated by the Federal Government, the District of Columbia, Local or State governing authorities, etc.
- Firetrucks, ambulances, rescue vehicles, etc used for other emergency services.
- Vehicles exclusively used for non-transportation functions, or off-highway vehicles, etc.
How to file 2290 Tax Return?
As we know, there are two methods to file 2290 HVUT Form with the IRS. They are:
Paper filing 2290s requires the truckers to collect the tax forms manually. Furthermore, you need to fill out the business information manually per 2290 Form. Apart from these, you need to mail them manually by reaching the IRS office stores. Finally, you’ll receive schedule 1 copy after 5-4 days of filing the tax return.
E-filing Form 2290 is possible through a trusted IRS authorized e-file provider. You can file tax returns from the driver seat, or at your doorstep conveniently over the internet. Moreover, you can file numerous 2290 forms with the same business information. On the other hand, you’ll receive IRS watermarked 2290 schedule 1 copy instantly after the IRS accepts your return.
How to find out if the IRS received your 2290 return?
Generally, when you choose e-filing 2290 Forms using an IRS-approved e-file provider, you need to provide your name, email address to access the account. So, if you file Form 2290 online through Form 2290 Filing, you will receive notifications to the registered email address. The IRS will mail back the schedule 1 copy when your returns are accepted. Otherwise, it will notify the trucker of the reasons for 2290 rejection in the form of codes. On the other hand, Form 2290 filing provides instant status updates through SMS, fax, or email.
Finally! Do you know the IRS has started accepting 2290 returns for the tax year 2021-22? Hurry! Form 2290 Filing is the best e-file provider that satisfies the trucker’s needs. Register with us for free and pay only when you submit. Our US-based experts support team helps you in assisting e-filing 2290s hassle-freely.