File Now, The Deadline For Form 2290 Is Today August 31st

Today is August 31st, 2022, the last day to File Form 2290 and pay the Heavy Vehicle Use Tax to the IRS. Are you a driver of a vehicle weighing 55,000 pounds or more? Then you need to be aware of this important deadline! 

Form 2290 is an IRS tax form that must be filed annually for the upcoming tax year. By filing now you are paying your tax in advance and do not have to worry about paying it again until next year. The Form 2290 tax year goes from July 1st to June 30th of the following year. This is important to know because a vehicle’s Stamped Schedule 1 expires on June 30th. 

A Stamped Schedule 1 is important because it is used to get a vehicle’s tags and registration and can only be obtained by filing Form 2290. If a vehicle is found without a current Stamp Schedule 1, this can lead to being pulled over and penalized. If you do not pay the tax or file Form 2290 at all before August 31st, fines will occur. 

If Form 2290 is filed late or the tax is not paid, you will be charged late fines, and the fine for not filing Form 2290 is actually greater than the fine for not paying the tax. 

For every month the deadline is missed there will be a fine of 4.5% of the total tax due for up to five months. If there is underpayment for the Heavy Vehicle Use Tax, there will be a penalty of 0.5% of the tax due. Additional interest charges of 0.54% accrue each month that Form 2290 is not filed. This is why it is important to not only file Form 2290 but pay the Heavy Vehicle Use Tax as well. 

This is why it is important for you not to miss this deadline. Lucky for you, TSNAmerica has your back. TSNAmerica is able to file Form 2290 over the phone for you. This makes it convenient for those who are busy or do not have access to a computer or other device. When speaking with an agent, simply tell them your business information including your Employer Identification Number (EIN), vehicle information including your Vehicle Identification Number (VIN), and your preferred payment option.

TSNAmerica offers a convenient Form 2290 filing solution for busy individuals. It is important to file Form 2290 today so that you do not miss the deadline and get fined for filing late. What are you waiting for? File Form 2290 with ExpressTruck

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When is the Form 2290 Due Date and other Helpful Information

What is Form 2290? Form 2290 is an IRS tax form that is used to report and pay the Heavy Vehicle Use Tax (HVUT) for vehicles that have a Taxable Gross Weight of 55,000 pounds or more that are operated on public highways. When a driver files Form 2290 they will receive a Stamped Schedule 1, which is required to obtain a truck's tags and registration. If a driver is found without a current Stamped Schedule 1, it may result in fines and penalties.

Who is required to File Form 2290?

If someone operates a vehicle that weighs 55,000 pounds or more and drives more than 5,000 miles a year, or more than 7,500 miles if it is used for agricultural purposes, Form 2290 must be filed for this vehicle. If the vehicle does not exceed 5,000 miles, or 7,500 miles if it is used for agricultural purposes, Form 2290 must still be filed but the filer will be exempt from paying the Heavy Vehicle Use Tax. 

When is the Due Date to File Form 2290?

The Form 2290 tax year goes from July 1st, 2022 to June 30th, 2023. The month that you first put a truck on the road that fits this requirement is known as the truck’s First Used Month (FUM). After a truck is first put on the road that meets the weight requirements, drivers have until the end of the month following the truck’s First Used Month to file Form 2290 for the truck. If Form 2290 is not filed by then, fines may occur. Not only that but without the Stamped Schedule 1 receives after Filing Form 2290, the vehicle’s registration or tags will not be obtainable. 

If this is not the first time the truck has been on the road and it has been operated on the road for over a year, the vehicle's First Used Month will be in July, the beginning of the Form 2290 tax year. This means that drivers are filing Form 2290 for the full tax year instead of just part of the year. After a truck is put on the road, Form 2290 must be filed every July so that you do not get fined. When Form 2290 is filed for the Heavy Vehicle Use Tax, drivers have until August 31st to file Form 2290 and pay the tax for the upcoming tax year. Form 2290 is filed in advance and the amount paid is determined by the weight class of the vehicle. 

When is the Deadline to File Form 2290 for the 2022-2023 Tax Year?

Filing for Form 2290 for the 2022-2023 tax year officially starts when the IRS starts accepting Form 2290 on July 1st, 2022. If Form 2290 is filed as soon as the IRS begins accepting them it means filers have more time to pay their HVUT. The deadline for filing and payment is August 31st. This means that if drivers wait until the last minute to file their Form 2290, it means that they will have less time to make their tax payment and get the amount needed to cover it. 

If the Form 2290 due date is missed, however, the Form 2290 will be considered late and filers will likely be fined. It is important not to miss this deadline because without filing your Form 2290 you cannot receive your stamped Schedule 1, which is required to get tags and the registration for the vehicle. To prevent drives from missing the deadline to file Form 2290, TSNAmerica offers the perfect solution to prevent just that. 

Why ChooseTSNAmerica?

TSNAmerica offers a great Form 2290 filing solution by having the option to file Form 2290 over the phone. This way drivers don't have to get to a computer and try to navigate a website to file or attempt to paper file. The Form 2290 deadline is right around the corner so it is important to file as soon as possible. Don't be late with Form 2290 and risk getting fined. Call TSNAmerica to file Form 2290 over the phone today!

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Claiming Credits on Form 2290: Everything You Need to Know

 Claiming Credits on Form 2290: Everything You Need to Know

IRS Form 2290 is a form that is filed by the driver of a vehicle that weighs 55,000 pounds or more for the Heavy Vehicle Use Tax (HVUT) to the IRS. If throughout the duration of a tax year, a qualifying vehicle drives 5,000 miles or less, or 7,500 miles or less if used for agricultural purposes, Form 2290 must still be filed but no tax will be owed for this vehicle and it will be considered suspended by the IRS. This is something that every driver of a vehicle weighing 55,000 pounds or more should know. When filing Form 2290 online, there are also some cases where you might need to claim a credit on your form.

When would you need to claim a credit on Form 2290?

When filing Form 2290 for the Heavy Vehicle Use Tax, it is important to know what options are available to you on the form. One of these options is the ability to claim credits on Form 2290. When it comes to this option, there are several instances that would require you to claim a credit on your Form 2290. These instances include having sold a vehicle, having a vehicle stolen or destroyed, or having a vehicle not exceed the mileage limit when it had already been filed as not suspended. 

How would you claim credits on Form 2290?

When filing Form 2290 you will have the option to claim credit vehicles. You will specify the reason for claiming the credit as well as the vehicle’s information, including the Vehicle Identification Number (VIN). Here you will state whether the vehicle was sold, stolen or destroyed, or didn’t exceed the mileage limit.

Sold Vehicle

If you sell your vehicle, you are able to claim a credit on that vehicle when you go to file your IRS Form 2290. When filing Form 2290 you will have the option to input credit vehicle information. Here is where you will specify that you have sold a vehicle. You will need to specify information about this sold vehicle including the VIN, the date sold, and the buyer’s information. Once you state this information you will be able to claim a credit for the months you no longer owned the vehicle.

Stolen or Destroyed Vehicle

If your vehicle is stolen or destroyed, you have the ability to claim a credit on that vehicle when you file Form 2290 as well. In the section on Form 2290 where you can claim credit for vehicles, you will enter the vehicle’s information such as the VIN, make, and model. You will indicate the date it was stolen or destroyed, this way you will be getting a credit for the months that you did not have the vehicle on the road or in your possession. 

Vehicle that did not exceed the mileage limit

Another instance where you can claim a credit on a vehicle when filing your Form 2290 is by not exceeding the mileage limit. Form 2290 is filed for the upcoming tax year. If you actually traveled less than 5,000 miles, or 7,500 miles if it is used for agricultural purposes, during the tax year but did not originally file the vehicle as suspended, you have the option to claim a credit for this vehicle. On Form 2290 you will enter the vehicle’s information and then specify that it did not exceed the mileage limit. In this instance, you will receive credit for the full tax amount paid for that vehicle for that tax year. If mileage wasn’t exceeded then you will also give the details about this vehicle.

Other Options for Claiming Credits 

Another option that is available to filers to claim credit for a vehicle that was sold, stolen or destroyed, or did not exceed the mileage limit is to file Form 8849 Schedule 6. This IRS tax form is designed to get credit back for a vehicle that meets the requirements. In this case, you do not have to file it on your Form 2290 as a credit vehicle but it is a separate tax form entirely designed to request the credit back from that vehicle. All you need for this form is the vehicle’s information and a detailed explanation of why the form is being filed. Form 8849 is processed manually by the IRS however, so it could possibly take up to a year or more to get the credit for your qualifying vehicle back. If you would rather wait until the next time you file Form 2290 if you still have a truck to file for, then you are able to add these credit vehicles to your Form 2290 instead and the vehicle credits will be processed at the same time as your Form 2290. 

ExpressTruckTax Offers the Best Solution for Filing Vehicle Credits

When you file Form 2290 with TSNAmerica, adding vehicle credits is made easy. Simply call in and have an agent help you add the vehicles that you need to claim a credit for by stating the vehicle information and the reason for claiming the credit. 

Form 8849 is also available through TSNAmerica and only takes a few simple steps. No matter how you want to file or report your vehicle credits, TSNAmerica has the best solution for you. What are you waiting for? File with TSNAmerica today and start reporting your vehicle credits today! Call now!

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