Hello, truckers! The new tax season is approaching, and you must be gearing up to report Form 2290 tax returns. The Highway Heavy Vehicle Use Tax (HVUT) is an essential responsibility for all truckers, trucking taxpayers, truck owners, and operators in the United States. Each year, the IRS requires them to file the truck tax reports using the IRS Form 2290 and get a valid Schedule 1 copy to continue the trucking operations on the public ways smoothly. Truckers should report and pay the HVUT returns for their heavy highway vehicles weighing 55,000 pounds or more and covering more than 5,000 miles (7500 miles for agriculture vehicles) on public highways. Owners with heavy vehicles or trucks weighing less than 55,000 pounds should also file Form 2290 tax returns under the tax-suspended vehicle category and get a valid Schedule 1 copy. They need not pay any tax dues for the suspended vehicles.
This year, the IRS will start accepting Form 2290 HVUT returns for the new tax period from the first week of July. The tax period begins in Jully 2024 and ends in June 2025. Truckers must estimate the Form 2290 tax reports for the entire season and report and pay the taxes in advance by the end of August 2024. Since the time window is less, all truckers and taxpayers will be looking to file Form 2290 at a time, resulting in a seasonal surge and causing delayed processing. But you don’t have to wait till the beginning of the tax season to report your truck taxes and get caught in the tax season crunch. Tax2290.com has introduced an early access Form 2290 reporting chance for the upcoming TY 2024-2025. Pre-file Form 2290 in our platform now to enjoy a stress-free tax season.
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