Form 2290 Glossary

Welcome to the definitive reference on Form 2290! The ins and outs of this essential tax form can be bewildering, whether you are an experienced truck owner or new to the industry. In order to demystify Form 2290, our exhaustive guide provides lucid and detailed explanations as well as step-by-step instructions for all aspects of filing.

We will provide you with information about HVUT basics, e-filing intricacies and penalties. Our answers section has responses to frequently asked questions while our guidance part gives advice from experts who want you not to make common mistakes. Explore various topics in Form 2290 that will assure your compliance easily and confidently.

Form 2290 e-Filing - Quick & Easy Guide
Form 2290 is a tax form used to report and pay Heavy Vehicle Use Tax (HVUT) to the IRS.

Amendments
Form 2290 amendments are necessary when there are changes to the information.

Due Date
For vehicles that were first used on the public highways in July, the due date for filing Form 2290 is August 31.

Vin Correction
A Vehicle Identification Number (VIN) is a unique 17-character code that is assigned to each vehicle.

Filing Penalty for Form 2290
If you fail to file Form 2290 by the deadline, you may be subject to a penalty of 4.5% of the total tax due.

Exemptions
There are some exemptions that truck owners or operators should be aware of.

Form 2290 Instructions
We will provide you with all the necessary information you need to know about Form 2290.

Stamped Schedule 1
The stamped Schedule 1, which serves as proof of payment of HVUT for the tax period.

Low Mileage Credit
Businesses can save on tax liabilities by taking advantage of this credit.

Tax Year
Known as the Heavy Vehicle Use Tax (HVUT) is from July 1st to June 30th of each year

Proof of Payment
You will receive the proof of payment IRS watermarked schedule 1 in 2 minutes

Taxable Vehicles
The tax is based on the weight of the vehicle, and must be filed..

Leased Vehicles
When you lease a qualifying heavy vehicle to a lessee, the lessee is responsible for paying the HVUT

Consent to Disclosure
Allows you to grant permission for the IRS to disclose certain tax information to a third-party.

Month of First Use
You must file Form 2290 and pay the tax by the last day of the month following the month of first use.

Taxable Gross Weight
Explore what the taxable gross weight is, how it's calculated, and why it's important

Logging Vehicles
The road tax for logging vehicles is different from that of regular commercial vehicles

Name Change
Before updating your name on your Form 2290, you will need to gather the necessary documentation

Refund
You overpay the HVUT or pay it for a vehicle that you no longer own or use.

Suspended Vehicles
These vehicles are also referred to as "low mileage vehicles" or "taxable vehicles with low mileage

Electronic Funds Withdrawal (EFW)
The introduction of the electronic funds withdrawal (EFW) option, you can pay your HVUT in a hassle-free manner.

Tax Preparation
It is used to report and pay the federal excise tax on heavy vehicles operated on public highways.

Taxpayer Identification Number
A TIN is a unique 9-digit number that is assigned to individuals or entities for tax purposes.

What is EIN?
You need an employer identification number (EIN) to file Form 2290