IRS will be conducting its annual Labor Day power outage beginning Saturday, August 31, 2019, starting at 9:00 p.m. and ending Tuesday, September 3, 2019, at 7:00 a.m. EST. This scheduled maintenance drive will affect processing 2290 returns which is heading towards deadline. However on September 3, 2019 the final day to report and pay the Federal Vehicle Use Tax Form 2290 will be available from morning 7:00 am. We’re working and operational to accept the returns from the Truckers, hold that in our servers and get it processed with the IRS when they are back and operations from Sep. 3rd.
IRS Truck Tax Form 2290 referred as Federal Highway Vehicle Use Tax returns are filed from July to August for a Tax Year started on July 2019 – June 2020. All the heavy highway vehicles with a taxable gross weight of 55,000 pounds falls due for this 2290 filing. Form 2290 and Schedule 1 has to be reported and paid to receive back the watermarked Schedule 1 receipt to show as a proof of payment.
Not yet reported your 2290 for this current tax year? Are you kidding…! You could not delay it further as the deadline is around the corner and IRS might charge you for late filing with penalty and interest. In simple words you would pay more that you owe as tax when you delay further. The penalty for failing to file your IRS Form 2290 by the deadline is equal to 4.5% of the total tax amount due, and the penalty will increase monthly for up to five months. The penalty for failing to pay your Heavy Highway Use Tax payment is .5% of your total tax amount.
If you place an additional taxable truck registered in your name on the road during any month other than July, you are liable for the Heavy Highway Vehicle Use Tax (Form 2290), prorated for the months during which it was in service. You must file Form 2290 for these trucks by the last day of the month following the month the vehicle was first used on public highways. File by this date regardless of when state registration for the vehicle is due. If any due date falls on a Saturday, Sunday or legal holiday, file by the next business day.
Form 2290 Due Date for 2019-20
Say John a Trucker uses a taxable vehicle on a public highway by driving it home from the dealership on July 1, 2019, after purchasing it. John must file Form 2290 by September 3, 2019, for the period beginning July 1, 2019, through June 30, 2020. Although the due date to file Form 2290 is normally August 31, in 2019 that date is a Saturday, and Monday is a federal holiday, so the 2019 due date is pushed to Tuesday, September 3.
Ready to File? Start Here
- Getting started with 2290 eFile is easy and quick start Gathering your information and eFile at http://Tax2290.com
- Employer identification number. You cannot use your Social Security number.
- Use the same name on your Form 2290 as was assigned to you with your EIN. Your name control on Form 2290 must match your EIN.
- Vehicle Identification Number of each vehicle.
- Taxable gross weight of each vehicle. Use the Tax Computation table on page two of Form 2290 to calculate your tax based on each vehicle’s taxable gross weight.
- Choose a wise payment option that you can handle it. You can use EFTPS or EFW or Card Payment or Check option to make your tax payments.