ALL ABOUT FORM 2290 TAX


What is Form 2290?
Heavy Highway Vehicle Use Tax Return or Form 2290 is a Federal Excise Tax imposed on vehicles operating in public highways with a gross weight of 55,000 pounds or more. Taxes are collected annually and are used for highway construction and maintenance.

What are the other terms used for referring form 2290?
Form 2290 is also referred as Heavy Vehicle Used Tax or HVUT, Truck Tax and Highway Vehicle Tax.

What is form 2290 amendment?
Amendment is a part of Form 2290 in, which you can amend or correct your previously filed return, if you have:

Additional tax from an increase in taxable gross weight or
Suspended vehicles exceeding the mileage use limit.

What is the purpose of the Form 2290?

Form 2290 can be used for the following purposes:

  • Pay tax for heavy vehicles with a taxable gross weight of 55,000 pounds or more, which will be used during the period
  • Report any vehicles, which are expected to be used within 5,000 or 7,500 miles and claim suspension from tax
  • Claim credits for taxes paid on any taxable vehicles which are sold, stolen, destroyed or used 5,000 miles or less (7,500 miles, if agricultural vehicles)
  • To correct the VIN in Schedule 1 that was reported incorrectly
  • Report 2290 amendments such as increase in taxable gross weight and taxable vehicle exceeds the mileage limit

Who must file 2290?
If you own and operate a heavy vehicle with a gross weight of 55,000 pounds or more, then you are liable for filing Form 2290.

You may be an individual (trucker or owner operator), limited liability company (LLC), corporation, partnership, or any other type of organization (including nonprofit, charitable, educational, etc.).

When should I file form 2290?
You must file Form 2290 by the last day of the month following the month of first use during the current tax period (July 1, 2018 to June 30, 2019).

Normally for a tax year the filing period starts from July 1st to June 30th of next year, it is due by August 31st. If any due date falls on a week end (Saturday & Sunday) or federal holiday, file by the next business day.

How should I file form 2290?
You can file form 2290 in two ways:

E-Filing - File electronically to IRS using online filing application and receive stamped schedule I copy in minutes. IRS recommends e filing for filing a return as it is simple, easy and secured.
Paper File- Manually mail the return to IRS office. You are likely to receive your schedule1 copy in 5-45 days.

When is form 2290 due?
Generally, the annual taxable period begins on July 1stof the current year and ends on June 30thof the following year. For vehicles that are in use at the beginning of the tax period (July), your 2290 filing deadline is August 31. Taxes on the full tax period should be filed and pay what you owe IRS.

What type of credits can be claimed using form 2290?
Credits can be claimed through form 2290 only for:

  • Sold Vehicles
  • Vehicles destroyed or stolen before June 1 and not used during the remainder of the period, or
  • Reported full tax during the prior tax year and used below 5,000 miles or less (7,500 miles or less for agricultural vehicles)

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