What is the Form 2290?

What is the Form 2290?

Written by 
Pilot Team
December 28, 2023
What is the Form 2290?

Form 2290 is a tax form used by truck owners and operators to report and pay the Heavy Vehicle Use Tax (HVUT) to the Internal Revenue Service (IRS). This tax is applicable to vehicles with a gross weight of 55,000 pounds or more that use public highways. In this article, we will provide information on the exact steps for filling out Form 2290 and other important information.

  • Employer Identification Number (EIN): Required for filing Form 2290.
  • Vehicle Identification Number (VIN): Unique identifier for each vehicle.
  • Taxable Gross Weight: Determines the tax category for each vehicle.
  • Name and Address: Filer's contact information.
  • Tax Computation: Based on vehicle category and month of first use.
  • Payment Method: Options for paying the tax.
  • Claiming Suspension of the Tax: For vehicles expected to be used less than the mileage use limit.

Who needs to file the Form 2290?

Form 2290 must be filed by individuals, companies, or organizations that own or operate heavy vehicles with a gross weight of 55,000 pounds or more on public highways. This includes truck owners, operators, leasing companies, and any other entity responsible for the vehicle. However, there are certain exceptions to this requirement:

  • Agricultural Vehicles: Vehicles used primarily for farming purposes and not used on public highways for more than 7,500 miles during the tax year are exempt from HVUT.
  • Government Vehicles: Vehicles owned and operated by federal, state, or local governments are not subject to HVUT.
  • Non-Profit Organizations: Vehicles owned and operated by charitable, educational, or religious organizations are exempt from HVUT.
  • Emergency Vehicles: Ambulances, fire trucks, and other emergency response vehicles are not subject to HVUT.
  • Indian Tribal Governments: Vehicles owned and operated by Indian tribal governments for essential tribal government functions are exempt from HVUT.
  • Low Mileage Vehicles: Vehicles that are expected to be used for 5,000 miles or less (7,500 miles or less for agricultural vehicles) on public highways during the tax year can claim suspension of the tax.

Essential updates to the Form 2290

For the most recent updates to Form 2290, filers should be aware of the following changes:

  • Electronic Filing Requirement: As of July 1, 2021, taxpayers with 25 or more vehicles subject to HVUT are required to file Form 2290 electronically. This change aims to streamline the filing process and reduce errors. However, the IRS still encourages all filers to use the electronic filing system for faster processing and confirmation.
  • Form 2290 Instructions: The IRS periodically updates the instructions for Form 2290 to provide clearer guidance and address any changes in tax laws. Filers should always refer to the most recent version of the Form 2290 Instructions to ensure accurate filing.
  • Payment Options: The IRS continues to expand its payment options for Form 2290 filers. In addition to Electronic Federal Tax Payment System (EFTPS), Electronic Funds Withdrawal (EFW), and check or money order, filers can now use credit or debit cards to pay the HVUT. More information on payment options can be found on the IRS Payments page.

It is essential for filers to stay informed about any updates or changes to Form 2290 and related tax laws to ensure accurate and timely filing. The IRS website is a valuable resource for the most up-to-date information on Form 2290 and other tax forms.

2024 Form 2290 filing deadlines

Form 2290 must be filed for the month the taxable vehicle is first used on public highways during the current period. The due date typically falls on the last day of the month following the month of first use, giving filers ample time to prepare the form. If any due date for filing falls on a Saturday, Sunday, or legal holiday, returns may be filed on the next business day.

Exact deadline dates for 2024

  • First used in July - due by August 31
  • First used in August - due by September 30
  • First used in September - due by October 31
  • First used in October - due by November 30
  • First used in November - due by December 31
  • First used in December - due by January 31
  • First used in January - due by February 28
  • First used in February - due by March 31
  • First used in March - due by April 30
  • First used in April - due by May 31
  • First used in May - due by June 30
  • First used in June - due by July 31

Form 2290 late payment penalty

Failure to file Form 2290 on time or underreporting your tax liability can result in IRS penalties, which can amount to 4.5% of the total tax due for late filing. This penalty is charged for each month the return is late, up to five months. Additionally, a late payment penalty of 0.5% of the unpaid tax amount applies, along with interest charges on the unpaid tax. To avoid these penalties, ensure you file your Form 2290 by the last day of the month following the month of first use of the vehicle.

Step-by-Step Instructions for IRS Form 2290

Part I: Figuring the Tax

  • Line 1: Indicate if the vehicle(s) was used on public highways during July 2023.
  • Line 2: Enter the total tax amount from Form 2290, page 2, column (4).
  • Line 3: Enter additional tax from an increase in taxable gross weight.
  • Line 4: Calculate the total tax by adding lines 2 and 3.
  • Line 5: Enter credits from overpayment or vehicles sold.
  • Line 6: Calculate the balance due by subtracting line 5 from line 4, indicating the payment method if not using EFTPS or credit/debit card.

Part II: Statement in Support of Suspension

  • Line 7: Declare that the vehicles reported on Schedule 1 as suspended are expected to be used on public highways 5,000 miles or less (7,500 for agricultural vehicles) during the tax year.
  • Line 8a: Confirm that the vehicles listed as suspended in the previous year's Form 2290 were not subject to tax except for any exceptions listed on line 8b.
  • Line 9: State that certain vehicles listed as suspended were sold or transferred, including the date of transfer, and confirm that these vehicles were still eligible for tax suspension.

Additional Information

  • Third Party Designee: Specify if another person is allowed to discuss this return with the IRS. Include the designee’s name, phone number, and personal identification number (PIN).
  • Signature: The taxpayer or authorized representative must sign and date the form, affirming that the information provided is accurate.

Schedule 1: Schedule of Heavy Highway Vehicles

  • Part I: Enter vehicle identification numbers (VINs) and the corresponding category for each vehicle reported.
  • Part II:
    • Line a: Enter the total number of reported vehicles.
    • Line b: Enter the total number of taxable vehicles where the tax is suspended (category W).
    • Line c: Calculate the total number of taxable vehicles by subtracting line b from line a.

Form 2290-V, Payment Voucher

  • Box 1: If applicable, enter the Employer Identification Number (EIN).
  • Box 2: Enter the amount paid.
  • Box 3: Enter the date as shown on line 1 of Form 2290.
  • Box 4: Enter your name and address as shown on Form 2290.
  • Send the completed Form 2290, along with Form 2290-V and payment, to the IRS address specified for your region, which is provided in the form instructions.

How to file Form 2290

Filing Form 2290 can be done either online or by mail. To file online, submit the form electronically through an approved IRS e-file provider, which generally allows for quicker processing and a stamped Schedule 1 available within minutes after acceptance by the IRS. Visit the IRS website for more information on e-file providers. On the other hand, filing by mail involves sending the completed Form 2290 and accompanying documents to a specific IRS address based on payment details, which may result in longer processing times compared to electronic submissions. If paying by check or money order, a payment voucher must be included with the mailed form.

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