Form 2290 is an IRS tax form that has to be filed for vehicles that weigh 55,000 pounds or more for the Heavy Vehicle Use Tax (HVUT). Form 2290 is important to file because without it you will not get a Stamped Schedule 1 which is used to renew a vehicle’s tags or obtain a vehicle’s registration. If a vehicle that weighs 55,000 pounds or more and drives 5,000 miles or less in a year, or 7,500 miles or less in a year if used for agricultural purposes, Form 2290 must still be filed but no tax will be owed for this vehicle and the IRS will consider it suspended.
When is the Form 2290 Deadline?
The Form 2290 deadline depends on the vehicle’s First Used Month (FUM). The duration of the tax year for Form 2290 is from July 1st to June 30th of the following year. If a vehicle has been on the road for over a year or is being put on the road for the first time in July, the vehicle’s First Used Month (FUM) will be July and the tax owed will be for the full upcoming tax year. The tax payment for Form 2290 in this case is due by August 31st because the deadline to file Form 2290 is the end of the month following the vehicle’s First Used Month. If the vehicle is put on the road for the first time in a month other than July, the tax amount will be prorated for however many months there are left in the tax year and the tax payment will be due on the last day of the month following the First Used Month. A vehicle’s Stamped Schedule 1 expires on June 30th of every year so it is important to renew Form 2290 as soon as possible to avoid being penalized.
Why The IRS Recommends Filing Form 2290 Online
The IRS recommends that Form 2290 is filed online instead of paper filed. This is because if it is paper filed it takes longer to process and you won’t receive your Stamped Schedule 1 for several weeks. If the form is rejected it will take longer to be notified that it was rejected only to have to resubmit it again and wait several more weeks for a response. If you file Form 2290 online by e-filing, you won’t have to wait weeks to receive your Stamped Schedule 1. Instead, you will receive your Stamped Schedule 1 as soon as the IRS accepts the form. This process usually only takes a few minutes.
Why File with ExpressTruckTax?
When it comes to filing the Form 2290 online, our sister product ExpressTruckTax makes it fast and simple. Filing Form 2290 online with ExpressTruckTax can be done in a few simple steps that only take a few minutes to complete. It is a user-friendly Form 2290 e-filing solution that offers several convenient ways to pay the HVUT. What are you waiting for? File Form 2290 with ExpressTruckTax today and get your Stamped Schedule 1 in minutes!