IRS Form 2290 e-filing features

High security:

E-filing using Form 2290 filing is highly secure, available every time, and guided round the clock by the security experts. It provides security encryption where the filers data is secured both at rest and in motion.

Accurate HVUT calculator:

2290 tax calculator is used to calculate taxes based on the First Use Month of the vehicle, and the taxable gross weight of the vehicle. Online filing allows the filers to figure out the accurate tax returns that they owe to the IRS.

Instant validation:

Filing 2290 tax returns electronically helps the truck owners to minimize the errors occurred in filling out the form by providing instant audit checks. Before submitting the returns to the IRS, the Form is rechecked by undergoing a complete validation process.

IRS Form 2290 filing deadline for 2022-23 tax year

Form 2290 must be filed by every organization or an individual who operates heavy vehicles on public highways. For the tax year 2022-23, the truck taxes are due to the IRS by August 31st. Every truck owner must pay the heavy vehicle use tax and file the form within the due date. Otherwise, the truck owner may have chances to face the risk of Form 2290 penalties. File timely and pay the truck taxes accurately to avoid penalties and interests on the total tax due amount. According to the IRS, the truck owner must pay the road tax when the taxable gross weight of the heavy vehicle is more than 55,000 pounds. Additionally, the tax amount varies when the vehicle crosses the mileage limit of 5,000 miles in a tax year. The deadline to file the form and pay the truck tax for newly purchased vehicles is different. File the Form 2290 and pay the tax by the last date of the following month in which the vehicle was purchased. Filing the forms and paying the taxes is more beneficial when the truck holder chooses to e-file 2290 returns. E-filing allows the truck owners to submit the Form 2290 returns with hassle free, accurately, and expedience to the IRS. Along with submitting, the truckers also have an advantage of processing road tax payments to the IRS with safe and secure methods.

Why does the IRS impose Form 2290 HVUT penalties?

As per IRS instructions, it is mandatory for heavy vehicles operating on public highways to file Form 2290 and pay the road tax. The IRS imposes truck tax penalties for the below reasons:

Failure to file Form 2290:

The IRS subjects the truck owners of heavy vehicles to penalties if they fail to file Form 2290 within the deadline. The deadline to file the form and pay truck tax is the last of the month following the First Use Month of the vehicle in a tax year. For instance, if your FUM of the vehicle is September, then you need to file the form by October 31st.

Filing false returns:

The IRS imposes heavy and hefty penalties for filing false or fraudulent returns. Additionally, the truckers may face the risk of HVUT penalties for providing incorrect information or incomplete filing of the Form.

Failure to show proof of 2290 tax payment:

In some circumstances, the registration of a vehicle may be suspended and a penalty will be imposed by the states for failure to show proof of truck tax. Compared to 2290 tax penalties, the penalties for non-compliance with the state are even higher.

Doesn’t pay estimated truck tax:

The truck owner needs to pay a penalty when the estimated truck tax is due to the IRS for the tax year with quarterly estimated tax payments or through withholding.

Form 2290 Heavy Vehicle Use Tax penalties

The trucker may be subjected to different penalty rates for not filing 2290 returns. Penalties and interest rate are as follows:

• 4.5% of the monthly penalty on the total tax due is charged up to five months for late filing Form.
• 0.5% of the monthly penalty on the total tax due is imposed for under payment of highway tax.
• Additionally, 0.54% of interest is charged per month.

For example: Jackson had to pay truck tax of $250. But he failed to file Form 2290 return and pay truck tax by August. Then Jackson’s penalty would be:
$250* 4.5%= $11.25;
Jackson’s total tax due with the penalty will be $261.25.

When to get a 2290 Form penalty relief?

The IRS will waive the penalties if the trucker shows a reasonable cause as for the delay in filing 2290 tax forms or paying the required taxes within the due date. This circumstance is considered as “Penalty relief”. Given below are the circumstances to get a 2290 form penalty relief:

• The chances of waiving the road tax penalties are higher when the trucker is filing the form for the first time.
• From the past few years, the truckers had a good filing history of paying truck taxes and this is the first time the trucker is filing the returns late.

Send a letter to the IRS requesting a penalty relief along with a reasonable cause after receiving the notice from the IRS regarding Form 2290 penalties and interests. Along with the reasonable cause the trucker needs to provide a proof for the delay in filing the Form.

IRS Form 2290 extension:

Apart from waiving the penalties off, the truckers can request an extension of time to file 2290 returns by sending a letter directly to the IRS. The truck owner who is requesting an extension is required to explain the cause of delay in filing the Form. The extension request must be submitted to the IRS within the last date of filing the Form to the IRS. IRS grants an extension of a maximum of six months to the truckers within the United States.

Additionally, if the trucker fails to pay highway tax within the deadline, then the trucker needs to request separately for the delay in the road tax to the IRS.

How to avoid Form 2290 penalties?

Given below are circumstances to avoid 2290 tax form penalties:

Minimize 2290 Form errors:

Most of the truckers commit errors when filing 2290 tax returns in a hurry. It is important to minimize the errors before facing major penalties. E-filing 2290 Form allows an instant audit check before submitting the form to the IRS.

File 2290 tax return on-time:

On-time filing 2290 tax returns to the IRS is the best way to avoid heavy and hefty 2290 tax penalties. Gather the required information to file the form and choose an IRS authorized e-file provider to process your returns electronically.

Pay truck taxes correctly:

Calculate the truck taxes online by 2290 tax calculator in the e-file provider. Pay the truck tax accurately to avoid penalties and interests.