New to Trucking Industry? What you should know about Form 2290?


Both veteran and amateur truckers should learn about Form 2290 which corresponds to the heavy vehicle use tax from the IRS. This Form 2290 helps in figuring out the specific taxes that the truckers need to pay. Every trucker is expected to pay this tax if the taxable gross weight of the vehicle is about 55,000 pounds or more. This taxable gross weight of the vehicle is determined by the total weight of the truck and the trailer, along with its maximum load capacity. Vehicles that weigh less than 55,000 or have not covered the prescribed distance of 5,000 miles are exempted from filing Form 2290. 

The due date for filing Form 2290

The IRS Form 2290 for HVUT should be filed by August 31st of every tax year. The tax period for the heavy highway vehicle starts on July 1, 2021, and ends by June 30, 2022. If the trucking business puts the vehicle on road by a month, say February then they will have to pay the tax by the last date of the following month, i.e., March 31st. Generally, the trucking businesses put their vehicles on road by July and their due date naturally falls on August 31st

Information that will be required to file Form 2290

Generally, we can file Form 2290 either electronically or the form can be sent it through mail to the IRS. If we choose to file it electronically for an easy and hassle-free process, the following information will be required.

  1. 1. Name and address of the business: The name of the trucking business that the truck owners own or work for should be entered on every Form. It may also be required to list the type of the business as well. Some examples of types of businesses include Corporations, Estates, Trusts, Partnerships, etc.
  2. EIN: The second most important information is the Employee identification number. This is important to keep track of the tax records of the business. The EIN is indeed a nine-digit code that is issued by the IRS to every single business owner. For new businesses that have recently registered for the EIN, it will take 15 days for the IRS to approve it and they can file this IRS Form after receiving the EIN, as, without EIN, IRS will reject the Form. 
  3. VIN: The vehicle identification number is a 17-digit code that has been assigned to each vehicle and this is also important information to be fed in Form 2290.
  4. Calculating the gross weight: The IRS needs to know the gross weight of the vehicle so that it figures out the amount of HVUT that is required to be paid. The tax amount will depend on the weight of the vehicle. The heavier the load, the greater will be the tax payment and if the gross weight of the vehicle is less than 55,000 pounds, then there is no need to file Form 2290. 
  5. Tax payment options: There are many payment options to pay the HVU tax. The taxpayers can choose to pay through electronic funds withdrawal or direct debit method or choose to pay through EFTPS. Checks and money orders are accepted as well. 

The easiest way to File Form 2290

One of the easiest ways to file Form 2290 with the IRS is by e-filing it through Tax2efile. They have a highly intuitive and user-friendly portal, that completes the tax filing process within minutes. With Tax2efile, you can choose to pre-file the form or file the Form on the go, to avoid last-minute fines and penalties. They also have a friendly customer support service to help new truck owners with every step of the tax filing process.