What is IRS Form 2290?
Know the complete information on heavy highway vehicle use tax
Form 2290.
IRS Form 2290 - Overview
Updated on August 06, 2020 - 10:30 AM by Admin, ExpressEfile
IRS Form 2290 is filed to determine the heavy vehicle use tax for a tax year. Read on to know more about the form.
In this article, we cover the following topics:
1. What is Form 2290?
Form 2290 is a Heavy Vehicle Use Tax Return filed with the IRS on an annual basis. This return is filed to calculate and pay the Heavy Vehicle Use Tax (HVUT) for every tax year. The HVUT paid for the heavy vehicles will be used for any maintenance, repair, or construction purposes in the highways.
2.Form 2290 Schedule 1
Form 2290 Schedule 1 is the proof of HVUT payment provided by the IRS after they process and accept a Form 2290 return. Schedule 1 is used for the tags and vehicle registration in the Department of Motor Vehicles (DMV).
3. Who is required to file Form 2290?
Every owner/driver of heavy vehicles must file Form 2290 if they operate their vehicle on the public highways. Any vehicle with a taxable gross weight of 55,000 lbs or more will be considered a heavy vehicle and must file Form 2290.
4. Form 2290 Filing Methods
There are two methods to file your Form 2290 return:
- E-Filing - This is the simpler and quicker method to file your Form 2290 return. The IRS recommends the filers to e-file their returns. Your return will be transmitted to the IRS, and your stamped Schedule 1 will be generated in minutes.
- Paper Filing - File your Form 2290, download a hard copy of your return, and mail the hard copy to the IRS.
5. Where to Mail Form 2290?
The address to which you must send your Form 2290 return while paper filing will vary depending upon whether you include a payment with your return.
| Form 2290 with full payment: | Form 2290 without payment: |
|---|---|
Internal Revenue Service |
Internal Revenue Service |
6. Due date to file Form 2290
The deadline to file your Form 2290 falls on the last day of the month following your First Used Month (FUM) of the tax year. A typical tax year begins on July 1 and ends on June 30 of the following year.
For example, if you put your vehicle on the road during October 2020, the deadline to file your Form 2290 return for the tax year 2020-2021 is on November 30.
7. Penalty for not filing 2290
The IRS will impose a penalty for not filing your Form 2290 return or paying the required taxes within the deadline. The penalties and interest rates are
as follows.
- A monthly penalty of 4.5% of the total tax due is assessed up to five months for not filing Form 2290 by the deadline.
- A monthly penalty of 0.5% of the total tax due is assessed for the underpayment
of HVUT. - Additional interest charges of 0.54% per month accrue.
The IRS might consider waiving your penalties if you can show a reasonable cause for not filing your return or paying the required taxes within
the deadline.
E-File Form 2290 with ExpressEfile
ExpressEfile, an IRS-authorized e-file provider, lets you file your IRS forms electronically. File your Form 2290 online and get your stamped Schedule 1
in minutes.
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