There are different types of taxes which all the American citizens are required to pay. A thorough understanding is a must for all and it is crucial to understand the due date, and how to pay the tax in the fastest possible way. Here, we will discuss about 2290 tax or the HVUT 229. Firstly, let’s try and understand what exactly is the HVUT 2290 tax.
What is HVUT 2290?
In the United States, heavy-duty vehicles with a gross weight of more than 55,000 pounds are subject to the Heavy Highway Vehicle Use Tax, or HVUT 2290. The vehicle must also cross 5,000 miles in the odometer to be tax qualified. IF a vehicle is taxable, the owner needs to file form 2290 and pay the HVUT tax due throuffh an IRS approved e-filing service provider. they can also do this manually, buy filling out the form 2290 and mailing it to the IRS office.
What is the Deadline for paying Heavy Highway Use Tax?
August 31 is the deadline for payment of the Heavy Highway Use Tax. In the event a newly owned vehicle is used for the first time in a month, the payment is due on the last day of the month following the month of First use.
You must file your 2290 Form between July 1 and August 31 if it was your first time driving the vehicle on a public roadway in July.
Tax filing season begins on July 1 and runs until June 30 of the following year. If you need help calculating the due date, you can use the tax due date calculator.
Why should you pay heavy vehicle use tax?
- Penalties and interest can be avoided if HVUT returns are filed on time
- The DMV will only register your vehicle if you have paid your HVUT
- Only after you have paid your road tax, you will be able to operate your vehicle
- You are more likely to invest in or purchase real estate in the future if you have a clear tax record
Who needs to pay HVUT?
The following parties are responsible for filing the heavy highway vehicle use tax:
- Over 55,000 pounds gross weight truck owner
- Limited Liability Companies (LLC) that own or operate at least one heavy vehicle
- Vehicles that are driven for 5,000 miles (agricultural vehicles for 2,500 miles) and more
Who is exempted from paying HVUT 2290?
- Qualified QSub (treated as a subsidiary of the parent corporation)
- Single-owned disregarded entity (a business that is tax-free because it is separated from its owner)
- Taxable double-registered vehicle
- An automobile operated under a permit, license, or dealer’s tag
- Logging vehicles that are exclusively designed for transporting forested products including timber
- Public vehicles whether operated by the Federal Government, District of Columbia, local government, or state governments
- Rescue vehicles, ambulances, and fire trucks, and other vehicles intended for emergency services
- Vehicles that are being for the benefit of tribal communities
- Vehicles that are particularly designed for non-transport services
- Vehicles that do not make use highways for transportation
How to pay 2290 heavy highway tax?
There are two ways to pay your heavy highway vehicle use tax:
- A physical filing is as follows:
The Internal Revenue Service is able to receive your completed IRS Form 2290, Schedule 1, along with the payment (a check or money order).
- File electronically:
The IRS has approved e-filing service providers for filing 2290, so you can get a stamped copy of Form 2290 Schedule 1 immediately.
HVUT Payment using Electronic Fund Withdrawal
You can pay your HVUT tax by direct debit from your bank account when you e-file your Form 2290 through a trusted provider . You need to provide the following information to authorize the payment:
- Details of your bank account
- The routing number for the bank account
Your bank details are not stored or accessed by the e-filing platform. Thus, if you require a status update on your transaction, you need to either contact the IRS or check your bank account statement.
Features and benefits of EFW:
- Payments made via EFW are usually debited from your account in 24-48 hours. In case of a weekend or holiday payment, the deduction of the money will take place the next working day
- EFW is a free service
- Your payment information is 100% safe and secure
- If the return is filed on the next business day or on a later date, tax will be settled. The date the return is successfully transmitted would be the effective date of the EFW method after the due date.
- Once IRS form 2290 or the return has been filed, the EFW payments will not be initiated.
IRS 2290 Payment using EFTPS
U.S. taxpayers can pay their taxes online by using EFTPS, the Electronic Federal Tax Payment System, free of charge. Payment of federal taxes is made to the Department of Treasury. The EFTPS online system enables you to make payments by clicking on a link, calling, or using a special channel designated for tax professionals and financial institutions. You can access EFTPS by telephone or online on a 24-hour basis. The payment calendar allows you to plan ahead 365 days for business and individual payments.
It is advisable to take help from the online portal and submit the tax easily.