The IRS Form 2290 is a tax form used to file heavy vehicle use tax. Truckers who drive heavy motor trucks, buses, and other commercial vehicles on public roadways in the United States are subject to calculate form 2290 tax and pay to the IRS.
How to Calculate Form 2290 Tax?
The Heavy Vehicle Use (HVUT) tax is usually calculated by the Internal Revenue Service (IRS) for each registered vehicle. Before that, every trucker must file IRS form 2290 to get the schedule 1 proof. It permits you to drive securely on public roads. The IRS has created a 2290 form to help truckers calculate form 2290 tax and pay them on time. Truckers need to file their Form 2290 on time because they can be charged penalties if they don’t file it on time or if they don’t pay the appropriate taxes.
According to IRS guidelines, the gross weight of an unloaded vehicle that is fully equipped with all accessories is a major factor in determining the heavy vehicle tax. As we know, truckers must calculate form 2290 tax if the taxable gross weight of a heavy motor vehicle is 55,000 pounds or more.
First Used Month of Vehicle (FUM)
Truckers must mention the first used month (FUM) while filing form 2290 online. The FUM is the month that you first used the vehicle on public highways in a tax year. The IRS Form 2290 tax year starts on July 1 and ends on June 30.
If you obtain a vehicle in a month other than July, you must file form 2290 online on the last day of the following month.
Example: Mr.Finch purchased a vehicle in September and started driving it on public roads in October. Then he must file form 2290 on the last day of November.
Vehicle Weight Category
| Vehicle Category | Description |
|---|---|
| Taxable Vehicles | Vehicles with a gross weight of 55,000lbs – over 75,000 lbs fall under the taxable vehicle category |
| Exempt Vehicle | Vehicles weighing traveling less than 5,000 miles in a tax period are considered “Tax-exempt vehicles” |
| Logging Vehicle | Highway vehicles that are exclusively used to transport products harvested from forest sites are considered “Logging vehicles” |
The HVUT is $100 per 1,000 pounds over 55,000 pounds, plus $22 per 1,000 pounds over 55,000 pounds. The maximum HVUT for vehicles weighing more than 75,000 pounds is $550 per year. These categories are described in the table below.
| Below 55,000 lbs | No Tax |
| 55,000 – 75000 lbs | $100 plus $22 per 1,000 pounds over 55,000 lbs |
| Over 75,000 lbs | $550 |
Who can be Exempt from IRS Form 2290 Tax?
The IRS exempts truckers from the HVUT tax if they travel less than 5000 miles, and agricultural vehicles that travel less than 7,500 miles during the tax period are considered suspended vehicles. The vehicles operated by the following authorities can also get the exemption.
- The Federal Government.
- The District of Columbia.
- A State or Central Government.
- The American Nations Red Cross.
- Non-Profit Transportaions.
- An Indian tribal government, but only if the vehicle is used to carry out a critical tribal government duty.
Therefore, here we offer a free tax calculator for our truckers’ assistance in calculating the accurate tax return that you must submit to the IRS. Taxes are automatically calculated and shown on the web screen while filing form 2290 by using our Truck2290 e-file service. Then you’ll be able to simply and accurately calculate your IRS taxes and receive your schedule 1 proof in minutes.
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