IRS New HVUT (form 2290) Regulations for 2011

There are several taxes that are imposed on those in the trucking industry each year. Heavy Vehicles travelling on public highways are subject to HVUT, or Heavy Vehicle Use Tax. These taxes can be filed by filing a Form 2290. Truckers, owner operators, and trucking companies were recently notified by the IRS that their next highway use tax return for filing HVUT (which is usually due on August 31) will instead be due on November 30, 2011. The primary reason for the extension of the due date is to reduce confusion and multiple filings of Form 2290 that could result if Congress reinstates or makes changes to the current highway use tax after September 30, 2011.

The previously mentioned Heavy Vehicle Use Tax applies to trucks, truck tractors and buses with a gross taxable weight of 55,000 pounds and above. There are also many detailed rules and regulations that apply to vehicles with minimal road use, logging/agricultural vehicles, vehicles transferred during the year, and also those whose first use month was during July. In typical scenarios, vans, pick-ups and panel trucks are not taxable because would [under normal circumstances] fall below the 55,000 pound requirement.

The recently determined filing deadline of November 30 for Form 2290 (Heavy Highway Vehicle Use Tax Return) applies to the tax period beginning on July 1, 2011. This does not only include those vehicles that were used during July, it also includes those whose first use month was during August or September. According to recent statements from the IRS, 2290 tax returns should not be filed and payments should not be made until November 1, 2011.

Regulations for new vehicles that need to be registered will also take effect. Any new vehicle that needs to be registered during July through October of 2011, state DMV’s are now required to accept a Stamped Schedule 1 from the previous year since it is not possible to receive a stamped Schedule 1 until November of 2011. If a vehicle was acquired within the current tax year, and there is not a stamped Schedule 1 for the previous year, the owner only needs to provide some form of proof of purchase to prove that the vehicle was recently placed in his/her possession.

Fortunately, once the Form 2290 is available, the electronic filing service: will be able to E-File the form and send it to the IRS in minutes. Express Truck Tax is an IRS Authorized E-File provider for filing Form 2290. The E-Filing Process is very simple; the form can be completed in minutes, and it can be sent to the IRS as soon as it is finished. It is such a time saver when you compare it to waiting in the IRS office for hours or sending it via postal mail and waiting weeks for the IRS to process it.  All you will need is your basic information about yourself, and your truck.


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