All you need to know about HVUT Due Date for 2020–21 Tax Period
The Form 2290 Tax Season is July 2020 through June 2021. 2290 Taxes has to be reported between July 1, 2020 through August 31, 2020!
Choose eFile for faster processing of your 2290 tax returns and to receive back the IRS watermarked digital Schedule 1 Receipt instantly!!!
When the calendar is rolled to July, it’s that time of year, you need to start preparing your Heavy Vehicle Use Tax (HVUT) return using IRS Tax Form 2290. This is an annual tax reported on heavy motor trucks operated on public highways and paid in full. All truckers, truck owners, owner-operators, trucking companies who own and operate heavy motor vehicles with a gross weight of 55,000 pounds or more, estimated to drive 5,000 miles or more on public highways must file IRS Form 2290 and pay the annual federal excise tax in full.
Example That Highlights — 2290 Tax Due Date
John uses a taxable vehicle on a public highway by driving it home from the dealership on July 2, 2020, after purchasing it. John must file Form 2290 by August 31, 2020, for the period beginning July 1, 2020, through June 30, 2021. He would be filing 2290 and paying taxes in full for the 12 months. eFile would be the best possible option to report and pay the 2290 taxes with the IRS. TruckDues.com can help you to receive IRS watermarked Schedule 1 receipt instantly.
The 2290 tax is due from July 1, to June 30, and you must have it paid by August 31st for existing fillers under your name. If you fleet size is 25 or more, that is going on the 2290 tax form you MUST file it electronically. For registration purposes the 2290 tax must be paid in the name of the owner of the truck or the registrant of the vehicle along with the Schedule -1 copy filled in the vehicle identification number. The IRS stamped (watermarked) Schedule -1 acts as a proof for payment and need to be produced to register or renew vehicle permits, tags and plates.
Whether you’re a private, for-hire, or specialized carrier, you can electronically prepare and report Federal Form 2290 tax requirements at TruckDues.com.
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Electronic Filing is the best way to report 2290:
Electronic filing is the fastest way of filing your 2290 tax returns with the IRS, once you complete your tax return it is consolidated and sent to the IRS for processing. IRS verify the data and approves your Schedule-1 with an e-file watermark (stamp) which very well used as a proof for payment of taxes.
If you estimate to drive your vehicle less than 5,000 miles (7,500 for agriculture) you can claim the suspension of tax. You can also claim this if you expect to use it for less than these numbers in the coming year. If you acquire a vehicle that is to be used on the highways you must pay the 2290 truckers tax by the end of the month following the month you purchased the vehicle in.
Example That Highlights — 2290 Tax Due Date
Assume John purchases a new taxable vehicle on December 2, 2020. The vehicle is required to be registered in his name. The vehicle is first used on the public highway by driving it home from the dealership after purchasing it in December. John must file another Form 2290 reporting the new vehicle by February 1, 2021, for the period beginning December 1, 2020, through June 30, 2021. Because January 31, 2021, falls on a Sunday, John doesn’t have to file until the next business day, February 1, 2021. Partial Period tax or pro-rated tax amount is calculated from December 2020 to June 2021. eFile would be the best possible option to report and pay the 2290 taxes with the IRS. TruckDues.com can help you to receive IRS watermarked Schedule 1 receipt instantly.
E-file is an option for just $7.99:
The IRS will no longer mail you a printed Form 2290, Heavy Highway Vehicle Tax Return as an indication of your due date. Although alternative resources are available to obtain a tax form, you may want to consider filing your Form 2290 electronically. The electronic version of Form 2290 will improve excise tax processing, save personal resources (for example, time and postage) and reduce preparation and processing errors. Your Schedule 1 is available for printing immediately after your return is accepted by IRS. E-filing is the fast, secure, easy and accurate way to file returns and pay any tax due. You can e-file 2290 forms directly with the IRS through http://TruckDues.com. Form 2290 must be filed by the due date and taxes should be paid in full.
2290 tax electronic filing starts at just $7.99, no more looking back. E-file is as easy as 1–2–3!
