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.
The earlier you file and pay your 2290 returns you have the higher chance to reduce the fine amount and penalties. You can also request for additional time to report 2290s to the IRS in written. This letter should have reached IRS well before the actual deadline.
You must file Form 2290 and Schedule 1 for the tax period beginning on July 1, 2019, and ending on June 30, 2020, if a taxable highway motor vehicle 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.
Form 2290 must be filed for the month the taxable vehicle is first used on public highways during the current period. The current period begins July 1, 2019, and ends June 30, 2020. Form 2290 must be filed by the last day of the month following the month of first use. For all heavy vehicles that has been in use since July should have completed reporting it and paying the taxes in full with the IRS.
If the vehicles are used after July, prorated 2290 taxes has to be reported and paid online with the IRS. All of Trucker A’s vehicles are first used in the current period in July 2019 by driving them from the dealership on the public highway to his warehouse after purchasing them. Trucker A must file one Form 2290 on or before September 3, 2019. Because August 31, 2019, falls on a Saturday, Trucker A doesn’t have to file until the next business day, September 3, 2019 (September 2 is the Labor Day holiday). Trucker B first uses vehicles on the public highway in July and August. Trucker B must report the vehicles first used in July by September 3, 2019, on the return normally due on August 31, 2019, and the vehicles first used in August on a separate return filed by September 30, 2019.
So September month officially covers two deadlines, one on September 3 for vehicles used in July 2019. The other due date falls on September 30, for vehicles first used in August, 2019. If at all a trucker purchases a new taxable vehicle on November 2, 2019. 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 November. John must file another Form 2290 reporting the new vehicle by December 31, 2019, for the period beginning November 1, 2019, through June 30, 2020.
