Hello, truckers! The IRS charges partial period or pro-rated Form 2290 reports for the heavy vehicles or trucks newly purchased or first used away from the beginning of the usual tax period. If you get a new heavy vehicle or use an existing vehicle any time away from the start of the tax period (July), you need not report or pay the taxes for the entire period. Instead, you can report the Form 2290 taxes based on the first used month of your heavy highway vehicle in a partial period or pro-rated basis. You must calculate Form 2290 pro-rated truck taxes from the vehicle’s first used month till the end of the ongoing tax period (June) and pay the taxes accordingly. The same guidelines are also applicable to tax-suspended vehicles.
We would like to remind you that the pro-rated Form 2290 HVUT returns for the heavy vehicles recently purchased or first used in March 2024 are due by the end of this month. So, we request all truckers and trucking taxpayers with March used vehicles to report Form 2290 HVUT on a pro-rated basis and get the IRS stamped Schedule 1 copy as soon as possible.
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