Form 2290 and the Schedule 1 has to be reported with the IRS and renewed for the current tax year July 2019 through June 2020. The actual due date for reporting and paying the HVUT returns is August 31, this year it was pushed to September 3 as the usual due date August 31 falls on a weekend and followed by Labor Day off.
Heavy highway vehicles that weight 55,000 pounds and more are liable to report and pay this annual federal vehicle use tax with the IRS. Vehicles that are estimated to drive less than 5,000 miles (7,500 miles for farm vehicles) are termed as suspended or exempt vehicles and does not incur tax. However for these vehicle Form 2290 and Schedule 1 has to be reported by listing the VIN# under W category which refer to Suspended Vehicles.
Do not delay further and end up paying more on top of the taxes you owe as additional charge or late filing, penalty and interest for late payment of 2290s.Continue reading