If you started using a vehicle in October 2020, you need to file your Form 2290 before November 30, 2020!
If you do not file before November 30, you will face penalties and interest from the IRS. You will immediately be hit with a penalty with equal to 4.5% of your owed tax amount.
How to Determine your First Use Month (FUM)
Your Form 2290 First Used Month is the first month that you start using your truck during a particular tax year. Your HVUT is always due at the end of the month following your FUM.
So if you started using a truck in October 2020, your Form 2290 return will be due at the end of November. The Form 2290 tax year runs from July 1 – June 30 of each year.
How to file your 2290 on time
The easiest way to complete your Form 2290 by the deadline is to e-file with ExpressTruckTax.
All you have to do is enter your business information and answer some questions about your truck. You’ll need your FUM, your weight category, and a way to make your IRS payment.
The whole process takes less than 5 minutes and you’ll get your stamped Schedule 1 back in a matter of minutes.
