Schedule 1 copy in minutes:
Heavy Vehicle Use Tax [HVUT] Form 2290 has to be used to report heavy truck tax to the IRS. When reporting tax on a highway motor vehicle using Form 2290, the IRS stamped Schedule-1 copy will be issued as proof for the payment.
By e-filing your IRS Form 2290, you can get your IRS stamped Schedule 1 copy in minutes. Maximum on the same day of filing, this may be case if IRS receives huge volume of returns for processing. Normally it won’t happen; you’ll be getting your IRS stamped Schedule 1 copy in 60 minutes
The Schedule 1 will have IRS e-file watermark with the received date, it is accepted across all DMV’s, DOT’s and other federal and revenue bodies as a proof for the payment of IRS Form 2290.
Form 2290 payment is set up to help provide funding to federal states to repair the roads damaged due to running of Heavy highway vehicles. Extensive running of Heavy highway vehicles weighing more than 55,000 pounds can cause repairs on the road. Thus the IRS Schedule 1 Form 2290 payment helps pay for maintenance and repair as well as a variety of other programs to keep the roads to function properly.
When you opt to do some changes to the original Form 2290 reporting, then you have to do 2290 amendments. A corrected Schedule 1 copy will be stamped and issued by the IRS.
Proof of payment for state registration. Generally, states will require verification of payment of the tax for any taxable vehicle before they will register the vehicle.
Use the IRS stamped copy of Schedule 1 as proof of payment when:
- Registering vehicles with the state, or
- Entering a Canadian or Mexican vehicle into the United States.
If you do not have the IRS stamped copy, you may use a photocopy of Form 2290, Schedule 1, and both sides of your canceled check as proof of payment.
Schedule 1 (Form 2290), Consent to Disclosure of Tax Information
Some states are participating in the electronic sharing of information reported on IRS Form 2290 and Schedule 1. The information shared includes the VINs for all vehicles reported on Schedule 1 and verification that you paid the tax reported Form 2290. This information will also be shared with the Department of Transportation, U.S. Customs and Border Protection, State Departments of Motor Vehicles, and the American Association of Motor Vehicle Administrators. The IRS needs your consent to release this information. If you agree to have the information released, please sign and date the consent on page 2 of Schedule 1. Check with your state to determine if it is participating in the program and if you are still required to submit a stamped Schedule 1 as proof of payment.
Recordkeeping
Keep records for all taxable highway vehicles registered in your name for at least 3 years after the date the tax is due or paid, whichever is later. They must be available at all times for inspection by the IRS. Also keep copies of all returns and schedules you have filed. Keep your records even if a vehicle is registered in your name for only a portion of a period. If the tax is suspended on a highway motor vehicle for a period because its use on public highways during the period did not exceed 5,000 miles (7,500 miles for agricultural vehicles), the registrant must keep the records at least 3 years after the end of the period to which the suspension applies.
Records for each vehicle should show all of the following information.
- A detailed description of the vehicle, including the VIN.
- The weight of loads carried by the vehicle in the same form as required by any state in which the vehicle is registered or required to be registered.
- The date you acquired the vehicle and the name and address of the person from whom you acquired it.
- The first month of each period in which a taxable use occurred and any prior month in which the vehicle was used in the period while registered in your name, with proof that the prior use was not a taxable use.
- The date the vehicle was sold or transferred and the name and address of the purchaser or transferee. If it was not sold, the records must show how and when you disposed of it.
- If the tax is suspended for a vehicle, keep a record of actual highway mileage. For an agricultural vehicle, keep accurate records of the number of miles it is driven on a farm.