Why to File HVUT?

Why you must pay HVUT Form 2290?

In order to renew the registration on your heavy vehicle witht the DMV, you will need to file a Form 2290 with the IRS and recieve a Stamped Schedule 1 as proof of filing.

HVUT Form 2290 Tax Calculations

Since the tax year for Form 2290 starts in July of any year and ends the June of the next year, if the gross taxable weight of your taxable vehicle is from 55,000 to 75,000 pounds, your HVUT is $100. Plus, there is a $22 fee per every 1,000 pounds over a 55,000 pound vehicle. For vehicles over 75,000 pounds, the maximum HVUT is $550 per year.

HVUT Exemptions

There are some exemptions to those who have to pay heavy vehicle use taxes. Such as any commercial heavy vehicle that travels less than 5,000 miles annually, and agricultural vehicles that travel fewer than 4,500 miles annually. Also vehicles that are not considered as highway motor vehicles, such as mobile machinery for non-transportation functions, and for vehicles specifically designed for off highway transportation are exempt as well.

Penalties For Not Filing Form 2290 HVUT

The penalty for not filing the IRS Form 2290 by the deadline is equal to 4.5% of total tax due. This amount is assessed on a monthly basis up to five months. Those who choose not to make their HVUT payment also face an additional monthly 0.5% of the tax due penalty.

Additional interest charges of 0.54% per month accrue as well. Within 5 months of not filing and paying the HVUT tax, the HVUT liability that was originally $550 will be over $700. In addition to the monetary federal penalties, states suspend the registrations of vehicles for which proof of HVUT payment has not been provided. So not only will the taxpayer owe more money, they will also be unable to renew their registrations, so they will be unable to work. HVUT evasion penalties can even be as severe as fines and incarceration.

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Get Instant Notification

E-file IRS HVUT form 2290 and get instant notification of 2290 Schedule 1 by Text Message or Fax Instantly