- June 22, 2021
The highway vehicle use tax Form 2290 is used to pay the tax for the highway motor vehicles that have a taxable gross weight of 55,000 pounds or more. This form can also be used to figure and pay the tax on the vehicle for which you have completed the suspension statement on another Form 2290, and if the vehicle has later exceeded the mileage use limit for the period. The other purposes of using Form 2290 are,
- To pay tax if the taxable gross weight of the vehicle increases to more than 55,000 pounds in the tax year.
- To claim suspension from tax if the vehicle is used for 5,000 miles or less for commercial vehicles and 7,500 miles or less for agricultural vehicles.
- To claim a credit for the tax paid on vehicles that were stolen, sold, destroyed, or were used for 5000 miles or less.
- To report acquisition of the used taxable vehicle for which the tax has been suspended.
- As proof of payment to register the vehicle.
Who should file Form 2290
This form is used to file ta for all highway motor vehicles that have a taxable gross weight of 55,000 pounds are more. Highway motor vehicles include self-propelled vehicles that are designed to carry the load over public highways such as trucks, tractors, and buses. Vehicles that have a chassis and a body but don’t include a load are also expected to file the road.
When to file Form 2290
Form 2290 should be filed for the month the taxable vehicle is first used on the public highway during the tax year that starts from July 1st, 2021, and ends on June 30th, 2022. Form 2290 should be filed on the last day of the month following the month it was first used. For example, if the vehicle was first used in July 2021 then the tax should be paid by August 31st. The Form can either be filed electronically or mailed to the IRS. Details such as the vehicle identification number, taxable gross weight of the vehicle, the total number of vehicles to be reported, the first used month of the vehicle, etc., will be required for filing the Form.
Pre-filing Heavy Vehicle Use Tax Form 2290
The best way to prevent penalties for failing to file Form 2290 is to pre-file. Pre-filing will start from June 1st, 2021, and end by June 30th, 2021 and has a host of advantages.
- It saves a lot of time and effort and avoids last-minute filing at peak times.
- It prevents late tax-paying fines and penalties and the person will receive their Form schedule copy ahead of others.
- Even if the form gets rejected for any reason, the taxpayer will have enough time to resubmit the form after correcting the mistakes.
- Issues with the technical servers of the IRS during last-minute Form filing can be completely avoided with pre-filing.
There is very still time left to pre-file Form 2290 for your heavy vehicle and to enjoy complete peace of mind, without having to worry about last-minute Form filings, Form rejections, and penalties.
