A 2290 can be filed with the IRS at any time after the deadline [August 31st] has passed but the tax due may be subject to penalties and interest. Other points to remember about the 2290 Heavy Use Tax, the 2290 tax is due the next month after the truck is put in service. For trucks on the road in July 2010, the tax is due by August 31, 2010.

For trucks that aren’t put into service until sometime in the month of August, 2010, the tax is due by Sept 30, 2010. And So forth. Also, the tax is pro-rated for trucks that are not in service for the full tax period. The details on the pro-rated tax are in the 2290 instructions.

The tax must be paid in full and on time or you will be assessed penalties and interest. The penalties for filing late will not be imposed if you can show reasonable cause for not filing on time. The penalty for failing to file IRS Form 2290 in a timely manner is equal to 4.5 percent of the total tax due, assessed on a monthly basis up to five months. Late filers not making an HVUT payment also face an additional monthly penalty equal to 0.5 percent of total tax due. Additional interest charges of 0.54 percent per month accrue as well.

As you can see, the penalties for failing to file can add up quickly. HVUT for an 80,000 lbs vehicle would typically cost about $550. However, for every month that passes without filing, penalties and interest add more than $30 to the total tax due. If you fail to file for 5 months, the total HVUT tax due to the IRS for that vehicle would be more than $700.

Additionally, many states won’t permit the vehicle to be registered without proof of payment for the HVUT. Needless to say, it’s important to file your Form 2290 on time!

If you would like more information about heavy vehicle use taxes and penalties and interest, please visit the IRS or call our Help Desk at 1-866-245-3918 or simply email your queries to support@taxexcise.com