I DON’T HAVE A “9 to 5” I HAVE A “WHEN I OPEN MY EYES TO WHEN I CLOSE MY EYES” That is a truckers life one line. Time is an important factor in any individual’s life but for a trucker it’s his/her bread and butter. They can never be late, they can be early though. Most of the things truckers do are time bound; one such important thing is filing their Taxes.
Though truckers file numerous taxes, they still tend to miss out on things that they do once a year. That is mainly because the tax that we are discussing is not the Personal income tax or Business Income tax that deadline that is common for everyone. The Tax that we are discussing about is the federal Heavy vehicle use Tax Form 2290 (HVUT). This tax is filed only once a year in the months of July and August, this deadline falls right in the middle of the year.
Tax Year for HVUT FORM 2290 Starts from July and ends by June of the Following year, which means anyone who has not filed a Form 2290 after July 2017 is operating his / her Heavy Vehicle with an Expired Schedule 1 copy, which would be considered as an offence if not renewed on or before August 31st 2017. Another fact about this Tax form is that, it has to be filed in advance unlike other Taxes. Example Form tax Year 2017 – 2018 the Tax Form 2290 must be filed and paid in July 2017 itself. Continue reading