File ahead of the rush with ExpressTruckTax

The 2290 filing season is upon us, and our team is more ready than ever to help you get ahead of the game this year! That’s right, the 2024-25 Form 2290 is now available from ExpressTruckTax. Starting your filing process early avoids any last-minute hassles and stress. Why not take advantage of this opportunity to file accurately and on time?

A Quick Recap of Form 2290

We understand that dealing with tax forms isn’t something you do every day, even if it’s our daily bread and butter here at ExpressTruckTax.

IRS Form 2290 is crucial for owners of commercial motor vehicles that weigh 55,000 pounds or more. This form calculates and pays the annual heavy vehicle use tax (HVUT). The HVUT tax year runs from July 1 to June 30, meaning that each summer, it’s time to file Form 2290 for the upcoming tax period.

The Benefits of Filing Early

Completing your Form 2290 filing well ahead of the August 31st deadline has several significant advantages:

• You can rest easy knowing this critical task has been completed. Then, you can focus on your daily operations without the stress of a looming deadline.
• Millions of truckers scramble to meet the August deadline, which can lead to delays and system slowdowns. Filing early means you’ll have your Stamped Schedule 1 well before the rush.
• You’ll have ample time to address and correct any issues with your filing without risking late penalties.
• Forms filed early are processed as soon as the IRS accepts them, ensuring prompt confirmation of compliance.

Why Choose ExpressTruckTax?

A more fitting question might be: Why would you choose anyone else to handle your 2024-25 Form 2290 filing?

ExpressTruckTax has been a trusted name in the industry for over a decade, offering the simplest and most affordable way to file your 2290. Here’s why we stand out:

• Our platform is designed to be user-friendly, guiding you through the filing process step-by-step.
• We provide a cost-effective solution without compromising on quality or service.
• Our customer support team is not only live and local but also bilingual. They are ready to assist you Monday through Friday from 8:30 AM EST to 5:30 PM EST via phone, email, or live chat.
• With years of experience, we ensure that your filing is accurate and compliant with IRS requirements.

Are you ready to start filing now? Click the button below to get started with ExpressTruckTax today and experience the ease and reliability thousands of truckers trust yearly!

IRS Form 2290 FAQ

What is Form 2290?

Form 2290 is an IRS tax form used to calculate and pay the Heavy Vehicle Use Tax (HVUT). This tax applies to commercial vehicles that weigh 55,000 pounds or more. The tax helps fund highway infrastructure by taxing those vehicles that cause the most wear and tear on the roads.

Who Needs to File Form 2290?

Anyone who owns a heavy highway motor vehicle with a taxable gross weight of 55,000 pounds or more must file Form 2290. This includes:

• Individual Owners: If you own and operate a qualifying vehicle.
• Businesses: Companies that own fleets of heavy vehicles.
• Agricultural Operators: Farmers who use heavy vehicles primarily for agricultural purposes may be subject to this tax but might qualify for reduced rates.

When is the Deadline to File Form 2290?

The deadline to file Form 2290 is August 31st each year for the tax period that runs from July 1st to June 30th. If you acquire a vehicle after the start of the tax period, you must file Form 2290 by the last day of the month following the month of first use.

What is a Stamped Schedule 1?

A Stamped Schedule 1 is proof of payment for the Heavy Vehicle Use Tax. This document is required to register your vehicle with your state’s Department of Motor Vehicles (DMV). Once you file Form 2290 and pay any taxes due, the IRS will send you a stamped Schedule 1.

Are There Any Penalties for Late Filing?

Yes, if you do not file Form 2290 by the deadline, you may be subject to penalties and interest. The penalty for failing to file the form is generally 4.5% of the total tax due, assessed on a monthly basis up to five months. Late payment penalties are usually 0.5% of the total tax due per month, plus interest.

Can I File Form 2290 Electronically?

Yes, the IRS allows electronic filing (e-filing) of Form 2290. E-filing is faster and more efficient than paper filing. ExpressTruckTax provides an easy-to-use platform for e-filing, ensuring that your form is submitted accurately and promptly.

How Do I Calculate the HVUT?

The Heavy Vehicle Use Tax is calculated based on the vehicle’s taxable gross weight. Vehicles weighing between 55,000 and 75,000 pounds are taxed at a rate of $100 plus $22 per 1,000 pounds over 55,000 pounds. Vehicles over 75,000 pounds are taxed at a maximum rate of $550 per year.

Are There Any Exemptions to Filing Form 2290?

Certain vehicles are exempt from the HVUT, including:

• Logging Vehicles: Trucks used exclusively for transporting logs are taxed at a reduced rate.
• Agricultural Vehicles: Trucks used primarily for farming and driving less than 7,500 miles per year (5,000 miles for non-agricultural vehicles) are exempt.
• State and Local Government Vehicles: Vehicles owned and operated by state or local governments are exempt from the HVUT.
• Charity Exemption: Some nonprofit charities may be exempt from the HVUT. An organization must be recognized as a nonprofit under Section 501(c)(3) of the Internal Revenue Code. The vehicle must be used primarily for providing charitable services.

What Should I Do If I Sell My Vehicle During the Tax Period?

If you sell your vehicle during the tax period, you may be eligible for a partial refund of the HVUT paid. You need to file Form 8849 to report the sale and claim the refund for the remaining months of the tax period.

How Do I Correct a Mistake on My Form 2290?

If you make a mistake on your Form 2290, you can file an amended return to correct the error. Common corrections include changes to the vehicle identification number (VIN) or the gross taxable weight of the vehicle. ExpressTruckTax can help you file amendments quickly and accurately.

What Records Do I Need to Keep?

The IRS requires you to keep records of your Form 2290 filings for at least three years after the date the tax was due or paid, whichever is later. These records should include:

• Copies of Filed Forms: Keep copies of Form 2290 and Schedule 1.
• Proof of Payment: Maintain evidence of tax payment.
• Vehicle Records: Keep records of vehicle purchases, sales, and mileage.

How Can I Pay the HVUT?

The HVUT can be paid electronically using the Electronic Federal Tax Payment System (EFTPS), by credit or debit card, or by check or money order. ExpressTruckTax offers guidance on making electronic payments to streamline the process.