Your Federal excise tax form (HVUT) Form 2290 is due now and has to be reported to renew your Form 2290 and Schedule-1 for the tax year 2017-18. The Tax Year begins by July and the Form has to be renewed on or before August 31st.
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Tax season is here, and with it comes all the usual issues of paperwork and confusion. The earlier you start with the return and figuring out how much is your tax & how you are going to file your taxes, the better. Electronic filing is the best way of reporting this 2290’s as it is fast and quick, IRS schedule -1 receipt in minutes.
If your commercial vehicle has a gross weight of 55,000 or more you’re required to report and pay this truck tax to the IRS and obtain your paid 2290 receipt called Schedule-1 proof. The fees are based on gross vehicle weight. The heavy highway vehicle use tax is a federal bill that is reported from July 1 through June 30. Tax must be paid in advance (the beginning of the IRS tax year). Tax is also prorated according to the month you first put your truck in service. The IRS is reminding truckers and other owners of heavy highway vehicles that this federal highway use tax return, is due this August 31.
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