Do you know the Due Date to E-file the IRS 2290 Form for the Tax Season 2019-2020?

As a responsible heavy vehicle owner, you must have marked the calendar date of August 31st. Because that is the deadline date to e-file the IRS 2290 Form online. But you need to know some surprising notes now. This tax year, there is a change in the due date to file the Form 2290 online. Yes. This year HVUT deadline is September 3rd, 2019, technically. How? Just read on the blog to know more.

IRS 2290 Form Due Date

As mentioned earlier, the HVUT due date is September 3rd, 2019. The reason behind the change in date is that the normal due date August 31st falls on Saturday and the successive business day is Labor Day. Hence, the due date is September 3rd, 2019. But, this does not give encouragement to drag the HVUT filing. E-file Form 2290 before the deadline, in order to avoid the IRS penalties.

File IRS 2290 Form Now and Pay Later

We recommend all our tax filers to file their 2290 Form earlier even though the payment can be made later before the due date of tax filing. Tax2efile also provides the option to pre-file 2290 Form online and the tax filer can pay the tax amount any time before the deadline of the IRS 2290 Form.

This option is best for the truckers as it reduces the stress of last-minute tax filing, and gives some time to manage the payment.

HVUT Penalties

What happens if you don’t file the HVUT tax on time? You can also file the IRS 2290 Form after the deadline but with a huge IRS penalty amount. When there is a valid reason to submit, for failing to e-file the 2290 Form on time, the IRS can either accept or reject it. But when submitting Form 2290 after the deadline, an explanation to show the reason for the delay is required.

  • The penalty for failing to file the HVUT tax 2290 Form by the deadline is a 4.5% addition to the total tax amount. This penalty can increase up to 5 months on a monthly basis.
  • The penalty for failing to pay the Heavy HVUT payment is 0.5% of the total tax amount to be paid.
  • In addition, there is 0.54% interest charge for every month is added.

These penalty additions can grow your payable tax amount to the peak and can cause a huge burden to pay them back. On the other hand, the heavy vehicle is suspended if the Form 2290 is not filed and the tax return is not paid. Because without the payment, stamped Schedule 1 is not issued by the IRS and this Schedule 1 is the proof of tax payment and without which the vehicle is suspended. Note that stamped Schedule 1 is required for renewing the tags and registering new vehicles. Without the stamped Schedule 1, the vehicle is considered to operate illegally. To stay legal on the road a stamped Schedule 1 is important and hence, it becomes mandatory to do the 2290 Form e-filing on time with no further delay.

On the whole, the wise decision is to avoid the risks of these IRS penalties and pay the HVUT tax through Tax2efile as soon as possible before the IRS 2290 Form deadline. To start e-filing your Heavy Vehicle Use Tax (HVUT) through Tax2efile