Form 2290 for new Trucks

The Heavy Highway Vehicle Use Tax Return, also called form 2290 is used by truck owners to pay the Heavy Vehicle Use Tax (HVUT) for vehicles weighing 55,000 pounds and above. For new trucks, one must be aware of the filing requirements and deadlines in order to comply with IRS regulations.

Key Points About Filing Form 2290 for New Trucks:

When to File:

Form 2290 must be filed in the last day of month after which you have purchased a new truck and used it on public highways before that day, e.g., if you start using your truck in July then fill Form 2290 by August 31.

How to File:

In addition to mailing Form 2290 directly to the IRS, E-filing can be done through any authorized service provider approved by the Internal Revenue Service (IRS). In fact, E-filing is recommended because it hastens processing time and leads to faster receipt of Schedule 1 without which a vehicle cannot be registered.

Information Needed:

• Employer Identification Number (EIN): You need an EIN number if you want to fill out form 2290. It is important not use Social Security Number (SSN).
• Vehicle Identification Number (VIN): The form should contain this identification number unique only to your vehicle.
• Taxable Gross Weight: The sum of weight carried by a truck including its maximum capacity at any time. Make sure that you choose the right category of weight.

Tax Calculation:

The HVUT is based on taxable gross weight per vehicle and prorated months during which the vehicle has been in use within tax period from July1st through June30th every year.

Payment Options:

EFW or Electronic Funds Withdrawal; EFTPS or Electronic Federal Tax Payment System; check payment; money order payment are all means whereby payments can be made.

Proof of Payment:

This stamped Schedule 1 will show that the IRS has received your 2290 and that you paid the tax. The Schedule is required when registering a vehicle with the DMV (Department of Motor Vehicles) in your state.

Steps to File Form 2290 for a New Truck:

• Get an EIN: If not yet acquired, apply for this number online through IRS website or by submitting SS-4 form.
• Required Information to Gather: VIN, taxable gross weight, and first use date of the truck.

Complete Form 2290:

• Fill out your business details including your EIN
• Enter the new truck details such as the VIN and first use month
• Calculate tax based on vehicle weight and usage period.

Submit the Form:

To ensure faster processing time electronic filing should be done via IRS approved provider

Alternatively, you can send filled form to the IRS address given in instruction.

Make Payment:

Select a payment option and make sure that it gets to us before the deadline

Receive Schedule 1:

When you are done with all these processes; go get stamped schedule 1 from IRS showing that you paid tax this proof is needed during registration of vehicles as well.

Note: For more information, visit IRS website