Most of us have no trouble remembering to file our personal income taxes. The similarities under the Heavy Vehicle Use Tax (HVUT) program may help us remember those as well.

While there are several differences between the programs, some similarities exist:

• The Internal Revenue Service (IRS) is the implementing agency for both programs.
• Both fund government programs. In the case of HVUT, that means funding the Highway Trust Fund.
• Record retention periods are similar as well. Keep your HVUT records at least 3 years after the date the tax is due or paid, whichever is later.
• Penalties and interest apply for those filing late or underpaying.

Now let’s talk about the differences.

Different: Forms and documents

Similar to other IRS programs, HVUT comes with specific forms that must be submitted:

• Form 2290 is used to figure and pay any tax due on heavy vehicles, or to claim suspensions of the tax when vehicles are expected to be used on public highways 5,000 miles or less.
• Schedule 1 of the Form 2290 is used to list all reportable vehicles by category and vehicle identification number (VIN).

Caution! Complete and accurate filing is critical. The receipted Schedule 1 is your proof that you paid these taxes. When it comes time to register (and renew registration for) your heavy vehicles, your state vehicle registration agency will ask to see the Schedule 1 as proof that you paid this tax. No receipted Schedule 1 = no vehicle registration. Make sure all your taxable vehicles appear on this form.

Different: Your taxpayer ID number

Unlike your personal income taxes, you cannot use your social security number to file HVUT.

You must have an established employer identification number (EIN) to file Form 2290. Apply right away if you don’t already have an EIN; it will take the IRS about four weeks to establish your new EIN in their systems.

Different: When to file

April 15 is widely known as tax day for income taxes. For those subject to HVUT, August 31 is the date to remember. But it’s not the only date.

For taxable vehicles acquired in between annual filing, the deadline for Form 2290 is based on when you first use the taxable vehicle on public highways during the reporting period. You must file Form 2290 by the last day of the month following the month in which you first use the vehicle on a public highway.

Caution! Understand what the IRS means by “use on a public highway.” Example: You purchased your heavy truck from the dealer and drove it over the public highways to your home. The drive home was your first taxable use of the vehicle.

Who must file

You must file Form 2290 and Schedule 1 if a taxable highway motor vehicle is registered, or required to be registered, in your name under any state or District of Columbia, Canadian, or Mexican law at the time of its first use.

The HVUT applies to highway motor vehicles with a taxable gross weight of 55,000 pounds or more and includes trucks, tractors, and buses. You may be an individual, corporation, partnership, or any other type of organization (including nonprofit charitable, educational, etc.).

The bottom line

Put HVUT on your annual schedule to pay by August 31 each year. And remember to also file within a month after adding a new taxable heavy vehicle.