The deadline for the 2023-24 Form 2290 was August 31st. If you did not file by that date then your tax return is late and you will be issued hefty penalties from the IRS.
But don’t worry, you can still limit the damage!
We understand how busy truckers can get, and we are always here to help simplify e-filing Form 2290, regardless of when it is filed.
What Penalties Were Given?
If you missed the Form 2290 deadline, the IRS will place a penalty on your account. You will incur a penalty equal to 4.5% of the total tax amount of the HVUT payment.
This can be a large amount, depending on how much your HVUT payment is. The amount due for the HVUT depends on the gross taxable weight of the vehicle that is being filed.
When Should You File?
If your Form 2290 is late, the IRS already assigned penalties to you, but the sooner you file, the lower the damage.
These hefty penalties will continue to incur for every month that it is late. Even if you cannot make the HVUT payment yet, it is better and cheaper to at least have Form 2290 filed.
If your Form 2290 isn’t filed, you also won’t receive your stamped Schedule 1. Without a valid Schedule 1, you won’t be able to keep certain licenses up to date. This may cause your vehicle to become grounded, and no one wants that.
When you file with ExpresstruckTax, once your Form 2290 is accepted by the IRS, you will be sent your valid stamped Schedule 1.
File The Form 2290 Now and Not Later
Don’t let the penalties stack up! You can still file the Form 2290 now to avoid higher penalties!
ExpressTruckTax is the leading IRS-Authorized E-file Provider for Form 2290 with over 10 years of experience making sure the process is quick and easy for our clients.
To e-file your Form 2290 with ExpressTruckTax, click here or call our live customer support team at 704.234.6005 for any additional questions you may have!
