Truck Taxpayers, we bring you the detailed worksheet on how this partial period federal heavy vehicle use taxes are calculated on a heavy highway vehicle that owe FHVUT – Form 2290 with the IRS. Electronic filing is the fastest way to complete a truck tax return with the IRS and receive back the stamped or watermarked Schedule 1 Proof of Payment copies digitally. Tax2290.com the best and most preferred electronic filing service provider since 2007, in fact the first ever IRS authorized electronic filing service provider in the market, servicing the trucking industry since 2007.
When FHVUT Form 2290 Taxes are Due?
The highway heavy vehicles that is first used on the highway in the current tax period (July 2021 through June 2022), during the month of July, have to complete HVUT Form 2290 and pay the appropriate tax between July 1 and August 31. This is calculated for the 12 months tax period that starts on July 2021 through June 2022.
When a trucker or a carrier operator/company places additional truck on the highways or used the vehicles for the first time after July 2021, the federal heavy vehicle use tax (FHVUT) Form 2290 has to be reported and paid from the month the vehicle is used. The 2290 taxes are now calculated on a prorated model for the months it would be used in a tax period. This is also referred as partial period 2290 taxes.
The IRS states “If you place an additional taxable truck registered in your name on the road during any month other than July, you are liable for the Heavy Highway Vehicle Use Tax (Form 2290), prorated for the months during which it was in service. You must file Form 2290 for these trucks by the last day of the month following the month the vehicle was first used on public highways.”
Pro Rated IRS Tax Form 2290 for Heavy Highway Vehicles
If a vehicle is first used on a public highway after July of the current year, If the vehicle is still being used in July of the following year, the Form 2290 filing deadline would be August 31.
Example 1. John uses a taxable vehicle on a public highway by driving it home from the dealership on July 1, 2021, after purchasing it. John must file Form 2290 by August 31, 2021, for the period beginning July 1, 2021, through June 30, 2022.
Example 2. Peter uses a taxable vehicle on a public highway by driving it home from the dealership on October 12, 2021, after purchasing it. Peter must file Form 2290 by November 30, 2021, for the period beginning July 1, 2021, through June 30, 2022.
These due date rules apply whether you are paying the tax on a taxable heavy vehicle or reporting the suspension of tax on a heavy vehicle which is also referred as tax exempt vehicles (used with in the allowable mileage limit of 5,000 miles and 7,500 miles based on your vehicle usage/purpose). It is important to file and pay all your Form 2290 taxes on time to avoid paying interest and penalties.
November 30, 2021 is the Deadline for 2290
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