The heavy highway use tax or Form 2290 due date is quickly approaching. Have no fear, you still have plenty of time for Form 2290 filing with ExpressTruckTax. But what happens if you miss the Form 2290 due date? Well, in short, you will have some major IRS penalties. Here are the Form 2290 filing penalties you need to know before the deadline and how to file with ExpressTruckTax.
Taxes can be confusing and often frustrating when trying to decipher IRS terminology, but if you miss your Form 2290 due date, the penalties will make the whole tax situation even worse. That is whyExpressTruckTax is here to help you with your Form 2290 filing.
Heavy Use Tax Penalties
If you can show reasonable cause for failing to file or paying on time, you may not be penalized. If you complete your Form 2290 filing with ExpressTruckTax after the deadline be sure to attach an explanation to your return to show reasonable cause. However, your explanation may or not be accepted by the IRS.
The penalty for failing to file your heavy use tax IRS Form 2290 by the August 31 deadline with ExpressTruckTax is equal to 4.5% of the total tax amount due, and the penalty will increase on a monthly basis for up to five months. The penalty for failing to pay your heavy highway use tax payment is .5% of your total tax amount. You will also face an additional interest charge of .54% per month. This penalty can make the amount you owe increase pretty quickly.
Depending on the state, your vehicle may be suspended until you can provide proof of HVUT payment. Your stamped Schedule 1 serves as your proof of payment, and you receive it after your Form 2290 filing. You need a stamped Schedule 1 to renew your tags and register new vehicles. Without it, you will be operating illegally. Trust me you don’t want to mess with that so it is important you file on time with ExpressTruckTax and receive your stamped Schedule 1.
Form 2290 Filing Made Easy With ExpressTruckTax
Now that you know what to expect if you file or pay after the Form 2290 due date we are sure you will avoid it. Thankfully there is a super easy solution. ExpressTruckTax provides you a quick and convenient e-filing process for hassle-free Form 2290 filing.
If you have any questions, ExpressTruckTax is here for you every step of the way. We have a dedicated ExpressTruckTax US support team ready to help you! We promise never to stick you with a robot or automated call system. Give us a call at 704.234.6005 or send us an email at [email protected] for 24-hour support in both English and Spanish.
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