If this deadline has caught you off guard no need to fear, ExpressTruckTax is here to help you complete your forms in just a matter of minutes. But we go a step further by providing you with important Form 2290 information so you can drive right on through your e-filing experience. Check out these top HVUT deadline tips from the tax experts at ExpressTruckTax.
Was January Your First Used Month? Time to File Your 2290So why are there so many deadlines for Form 2290? Well, your deadline for Form 2290 is based the first month you've used your heavy vehicle on public highways during the current tax period. This is important because you don’t have to pay for the months your truck wasn’t on the road.
Unlike the fiscal year, the Heavy Vehicle Use Tax runs from July 1st to June 20th of the following year, and you need to file by the last day of the month following your first used month. So that means that if you first used your truck back in January, it is time to file…… or face penalties.
So other than the fear of penalties why is Form 2290 so important? Because the taxes collected are used to repair, maintain, and build public roads. Once you file, you will get a copy of your stamped Schedule 1 as proof of filing and paying your HVUT taxes. You will actually need this form to renew your tags and to complete your International Registration Plan (IRP) return.
Fear the HVUT PenaltiesIf you fail to file by midnight tonight and you are required to do so, you will face expensive penalties. If that doesn’t strike fear into your heart, I am sure this will. The penalty rate for failing to file is a minimum of 4.5 % of the total tax due. This amount will accrue on a monthly basis for up to five months.
Plus, if your HVUT payment is late or is not paid in full, you will owe an additional penalty of 0.5% of the total amount owed. Oh and yeah there is an additional penalty of .54% too.
But wait it gets worst: If you don’t file you will not receive a copy of your stamped Schedule 1, which is required by the DMV to operate your vehicle legally. Don’t get stuck in the pits by this deadline but take a caution lap getting ahead over the competition with ExpressTruckTax.
Keep on Truckin’ With ExpressTruckTaxOur e-filing system is streamlined for fast and easy use so we can get you back on the road fast. No complex IRS jargon just straightforward interview style questions. If you get stuck in a rut, don't worry we will give you push no need to get out of the truck! Our dedicated team of tax experts standing by.
When you file with us, you will receive a copy of your stamped Schedule 1 in as little as 15 minutes via email.