What is HVUT?
HVUT is the Heavy Vehicle Use Tax that is a fee assessed annually on heavy vehicles operating on public highways at registered gross weights equal to or exceeding 55,000 pounds. The gross taxable weight of a vehicle is determined by adding the unloaded weight of the motor vehicle and any trailers together with the maximum load customarily carried on-road by the truck-trailer combination.
Who Must File virginia
You must file Form 2290 and
Schedule 1 for the tax period beginning on July 1 and ending on June 30 of the following year if a taxable highway motor vehicle (defined below) is registered, or required to be registered, in your name under state, District of Columbia, Canadian, or Mexican law at the time of its first use during the period and the vehicle has a taxable gross weight of 55,000 pounds or more.
What is required to file
You need the details of your
business - Business Name (Sole proprietor can use their legal name) and address, EIN (Employer Identification Number), details of the authorized signatory.
You need the details of your vehicle - Vehicle Identification Number (VIN) and Gross Weight of the Vehicle
If you are going to pay the IRS by direct debit (we strongly recommend it), keep the routing number and the account number ready.
When to file form 2290?
Heavy Vehicle Use Taxes must be filed using the Form 2290 on an annual basis. The Tax period for Heavy Vehicles begins on July 1st and ends on June 30th.The Annual renewal of your Form 2290 for a new tax period IS DUE BY August 31st each year.
For New Vehicles placed in service, the IRS Form 2290 must be filed by the last day of the month following the month of first use. For example, if you purchase and first use a vehicle in January, you must file a form 2290 by the end of February.
How to file form 2290?
Electronically: File Form 2290 electronically through any electronic return originator (ERO), transmitter, and/or intermediate service provider (ISP) participating in the IRS e-file program for excise taxes, such as ExpressTruckTax.com . For more information on e-file, visit the IRS website www.irs.gov/trucker .
E-filing Heavy Vehicle Use Tax with ExpressTruckTax is the fastest, most secure, and error-free way to complete your HVUT with no manual tax calculations needed.START NOW
Paper: Mail Form 2290 to the address shown under Where to File. If you did not pay the tax using the Electronic Funds Transfer or Electronic Federal Tax Payment System (EFTPS), mail Form 2290-V and your check or money order with Form 2290.
Penalties for HVUT non-compliance are costly to motor carriers. The penalty for failing to file IRS Form 2290 by August 31st is equal to 4.5 percent of total tax due, assessed on a monthly basis up to five months.
States assess fuel and use taxes based on weight, miles traveled and amount of fuel purchased. Returns are to be filed annually, quarterly or monthly based on the
type of return.
IFTA is the International Fuel Tax Agreement and is a tax collection agreement by and among the 48 contiguous States and the 10 Canadian Provinces bordering the US, in which motor fuels use taxation laws are uniform