The truck drivers will put their trucks on the highways during July, for the tax year. Their 2290 tax will be due by August 31st of the following year. If the truck owners place an added truck, registered in their name on the road, during any other month, other than July, then they are liable to pay the HVUT prorated for the months during which the truck was in service.
Truck owners should e-file Form 2290 for these trucks by the last day of the month, following the month the vehicle was first put into use on the public highways. IRS follows strict rules on these due dates, whether they are paying the tax, or reporting tax suspension. Taxpayers should file and pay the 2290 Taxes on time, to avoid paying penalties and interests.
The due date for HVUT Form 2290 taxes is based on the first use month of the truck
|First, use the month of the truck
|Truckers should file Form 2290 and make payment by:
|Month of July
|Month of August
|Month of September
|Month of October
|Month of November
|Month of December
|Month of January
|Last date of February
|Month of February
|Month of March
|Month of April
|Month of May
|Month of June
Taxpayers should file their taxes by this date, regardless of the due date of their state registrations. The due date will fall on a Saturday, Sunday, or a legal holiday, taxpayers should file their tax returns by the next business day.
If the first use month of the vehicle is a month that is other than July, taxpayers can refer to the above-given table, to find the due date of their tax return and payment of taxes. If the vehicle was put on the road in July, the tax-paying deadline will be August 31st.
IRS penalties for not reporting the truck taxes:
The penalty for not paying the IRS Form 2290 by the deadline will be 4.5% of the total tax amount due. The penalty will increase at a steady rate, monthly, for up to five months. The HVUT penalty for not paying the tax is 0.5% of the total tax amount. Taxpayers will also face an added interest charge of 0.54% per month.
Depending on these rates, the HVUT payment that was initially $550 will increase to over $700, by the end of five months, for which the taxpayer has not paid the taxes.
If the taxpayer can show reasonable cause for not filing Form 2290, they can request penalty relief by sending a letter to the IRS, telling them the reason.
If the taxpayers are not ready to e-filing the 2290 tax returns by the due date, they can file an extension to the IRS directly. The letter should explain the cause of the delay and the extension should not be for more than six months.