Corrina Peterson, Editor - Transport
March 5, 2024
Form 2290 can be complex, but understanding the key numbers involved is essential. From the weight threshold that triggers the tax to the data needed to file, these seven numbers hold the key to compliance for the heavy vehicle use tax (HVUT).
55,000: The taxable gross weight at which a truck becomes subject to the tax.
25: E-filing is required if you are reporting 25 or more taxed vehicles on a Form 2290, and it is encouraged for all filers for faster processing.
31: Your annual filing is due by August 31 each year. For vehicles used on a public highway in July (the start of the reporting year), file Form 2290 between July 1 and August 31. This is the annual filing period.
Schedule 1: The stamped Schedule 1 is proof that you paid the HVUT. Without this form, you won’t be able to register your vehicle.
Employer identification number (EIN): You need this number to file your taxes. You cannot use your Social Security number. If you don’t already have an EIN, it will take about four weeks to establish your new EIN in IRS systems, so be sure to plan for that delay.
Vehicle identification number (VIN): To file your Form 2290, you’ll need the VIN of each vehicle.
Taxable gross weight of each vehicle: You’ll use the tax computation table on page two of Form 2290 to calculate your tax based on each vehicle’s taxable gross weight.
When it comes to Form 2290, understanding the important numbers is the key to success. Armed with this knowledge, you'll confidently navigate Form 2290 and stay on the right track to compliance.
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