Did you get a new truck in August? Was August the first time you started driving a new truck?
If you answered “Yes” to any of these questions, then you need to file Form 2290 with the new vehicle’s VIN by September 30th.
Even though you’re still getting used to your new truck, it’s important that you remember to file the Form 2290 for it before the deadline to ensure it has a valid stamped Schedule 1 and to avoid late penalties issued by the IRS!
What does ‘First Used Month’ mean?
The First Used Month (FUM) refers to the first month the truck was used on a public road during the current tax year. The Form 2290 and HVUT payment are always due at the end of the following month after the vehicle was first used.
The chart below shows what your filing deadline will be based on the First Used Month of your truck:
What happens if it’s late?
If your Form 2290 is filed after the deadline, the IRS will issue hefty penalties that will incur until it is filed and paid.
If you do not file the Form 2290 before September 30th, you will be issued these penalties, plus additional interest from the IRS. The penalty for late filing will be equal to 4.5% of your owed tax amount and will incur every month it is late.
Please note that, even if you are unable to make the HVUT payment at this time, it is important to at least file before the deadline. The penalties won’t be as great if, at least, the Form 2290 is filed on time.
File Your Form 2290 Now!
E-filing your Form 2290 with ExpresstruckTax is a quick and simple process! When filing online with ExpressTruckTax, you will have access to the market-leading e-filing program along with multiple features to help make filing easy!
When you file with ExpresstruckTax, you will receive your stamped Schedule 1 within minutes after submission!
Go to ExpressTruckTax to file now! If you have any questions or are in need of assistance, call our customer support team at 704.234.6005! They are always happy to help!