This is the right time to have a filing of IRS Form 2290 by heavy taxable truckers for the tax year 2022–23. Truckers must be aware and alert for the filing season to avoid IRS penalties. The tax filing season is going to end soon. Thus, truckers need to file their 2290 tax form urgently before the deadline. As we know, the IRS filing season is from July 1st to August 31st every year.
Table of contents
- Who Must File Form 2290?
- Who can be exempt from the IRS HVUT?
- Requirements to File the 2290 Tax Form
- What is an IRS Tax Year?
- E-file Form 2290
Who Must File Form 2290?
According to IRS regulations, any trucker who owns taxable vehicles with a gross vehicle weight of 55,000 pounds or more and mileage of 5,000 miles (7,500 miles for farm vehicles) or more in a tax year must file a Tax Form 2290 with the IRS. Truck holders will receive Schedule 1 proof of payment of HVUT from the IRS upon successful filing.
Who can be exempt from the IRS HVUT?
The heavy vehicles operated by the following authorities can be exempt from the IRS heavy vehicle use tax (HVUT).
- The Federal Government
- The State or Local Government
- The District of Columbia
- The American National Red Cross
- A non-profit volunteer like the fire department, ambulance service, rescue squad…
- An Indian tribal government, but only if the vehicle is used to carry out an essential tribal government function.
- If it is created under a law that gives it certain powers generally exercised by the state, it is known as a mass transit authority.
- Qualified Blood Collector Vehicles and the
- Trucks that travel less than 5000 miles (agriculture vehicles less than 7500 miles) in a tax year.
- The vehicles with a gross weight of below 55,000 pounds and below.
Requirements to File the 2290 Tax Form
Truckers need to arrange the basic information to file the Heavy Vehicle Use Tax (HVUT) and Federal tax returns with the IRS. Here, we mentioned the fundamental necessities that truckers must have to submit during the tax filing process.
- Business Name and Address
- Employer Identification Number (EIN)
- VIN (Vehicle Identification Number)
- Taxable Gross Weight of Vehicle
- First Used Month of Vehicle (FUM)
- Suspended Vehicle (If any)
If you submit fraudulent or incorrect information, your filing may be canceled.
What is an IRS Tax Year?
According to the IRS, a 12-month tax period is called a tax year. Generally, the IRS tax year begins on July 1 and ends on June 30 of each year. The filing season for tax returns starts on July 1 and ends on August 31 every year.
E-file Form 2290
The filing process is the main element to getting the IRS 2290 Schedule 1 in minutes of time. The E-file is the simplest and quickest way to file the 2290 road tax returns. This is an electronic filing through the online mode. Truckers will get the instant schedule 1 proof for advanced filings.
Truckers who wish to file more than 25 heavy vehicles must file through the e-file method. The IRS does not allow more than 25 vehicle tax filings using the paper filing method.
Therefore, the correct solution to file your heavy vehicle tax returns is Truck2290. Here, truckers can simply and quickly file their truck 2290 tax returns. For further assistance, visit https://www.truck2290.com/