Happy fall! We hope you have been enjoying the cooler temperatures and maybe you’ve had the chance to catch a football game or two. Fall is a great time to relax before the holiday rush begins. You can really take a load off by knowing that you’re already handled you Heavy Vehicle Use Tax (HVUT) back in August around the 31st when From 2290 was due.
Unless…you missed the deadline?! That means your form is almost a month late. However, you don’t need to panic because the ExpressTruckTax team is here to help! We will answer your questions and explain exactly what you need to do.
My HVUT Is Late, What Do I Do?
You are probably wondering if there are any penalties for filing late so we will get those out of the way first. The penalty for filing HVUT Form 2290 late is equal to 4.5% of the total tax due assessed on a monthly basis for up to five months. If you also make a late HVUT payment you will also face a monthly penalty of .5% of the total tax due and additional interest charges of .54% will accrue per month as well.
Those are some hefty fees, so it’s best to go ahead and file as soon as possible to avoid having them grow larger. However, if you can provide reasonable cause for filing late you may not face penalties. Simply attach your reasonable cause with your Form 2290 when you file and the IRS may accept or reject it.
The HVUT period started in July 2017 and will end in June 2018. The due date is based on your first used month for your heavy vehicles. You have until the last day of the month following the month you first use your heavy vehicle on public highways to file.
So, because most truckers first used their trucks in July at the beginning of the period, they have until August 31st to file, making it a major HVUT deadline day. However, if first use your truck later in the year, then you have a later deadline. For example, if you first use your truck in November then you have until December 31 to file.
As mentioned above, if you have missed your deadline then it’s best to go ahead and file as soon as possible. Also, if your deadline coming up why not go ahead and knock it out with ExpressTruckTax?
How To File HVUT Form 2290
The e-filing process is quick and easy and can be completed online in a matter of minutes. All you have to do is follow the step by step e-filing guide, and you’ll begin by creating your free ExpressTruckTax account with your email address and personal password.
Then you will enter your business information such as the name, address, and EIN or Employer Identification Number. Next, you will enter your tax year and first used the month before entering your vehicle information including the VIN or Vehicle Identification Number and the taxable gross weight.
After that, we will calculate the amount of HVUT the IRS for you and you can pay that amount via direct debit or electronic funds withdrawal, EFTPS, check or money order.
Then we will perform a basic error check on your form to catch any simple mistakes. Double check your information to make sure it’s correct, and when you’re ready to pay for your form and transmit it directly to the IRS.
Then within 15 minutes of e-filing, you will receive a copy of your stamped Schedule 1 via email!!
Best of all, you don’t need a computer to file. Simply download the ExpressTruckTax App to your smartphone or tablet to file at any time, from any location. This makes it incredibly easy to file while you’re out on a trip because you can handle all of your HVUT form 2290 needs from the comfort of your own cab.
We’re Here To Help
Taxes can be confusing, but with us, they don’t have to be. Contact the dedicated ExpressTruckTax support team at any time, we’re available over the phone Monday – Friday from 9 AM to 6 PM EST at 704.234.6005. We also offer live chat and 24/7 email support and support@expresstrucktax.com.