- November 14, 2013
The Heavy Vehicle Use Tax or HVUT is a federally mandated tax that is placed on all vehicles that weigh 55,000 pounds and more than that are used on state highways throughout the US; if you are a truck driver or owner and run a business that utilizes larger trucks it is your responsibility to file for this tax with an IRS 2290 Form. Until recently, there was a time-consuming process that took a number of weeks to complete and file this form; it has become a lot quicker to complete this process by using the IRS’s Electronic Federal Tax Payment System or EFTPS.
Why is the IRS 2290 so Important?
Imagine – if you will – the hundreds and hundreds of miles of the US’ highways that cover the US and the vast amount of infrastructures that are vitally important in assisting people to commute and the businesses that go about their daily tasks that involve transportation. These infrastructures require a constant and albeit, an exhaustive amount of maintenance just to ensure that all of the US’ commuters can use them without any issue or problem preventing them to get where they need to and at any given time. Unfortunately, this usage also creates a large amount of wear and tear on these infrastructures that leave these roads in such a state of disrepair that constantly needs to be fixed and maintained; if you ever had to drive on a bumpy road that is peppered with potholes then you already understand what a headache these roads are and you know how important it is to keep them from being in such a state.
In order for these roads to be fixed and maintained to ensure that they remain in good condition, the government has created a system of taxes and put it in place for this on-going reason. Trucks, buses and other heavy vehicles have the great ability to cause the most damage you see to these roads because of their incredible weight, which is why the form 2290 is so important.
How does the 2290 Form Work?
As stated above, HVUT is a required tax that is to be paid for any vehicle that weighs over 55,000 pounds and will be driven for over 5,000 miles per year on any public highways. While most trucks will fall into this specified category, the operators of these vehicles must file the HVUT 2290 form tax with the IRS and must be filed with the IRS by August 31st; failing to do so will warrant certain penalties that can be implemented.
What is the Quickest Method to File the 2290 Form?
The previous method used to file you had to file your 2290 form with the IRS was by doing it with a CPA or accountant who could help you with all of your paperwork. Today, you can now file form 2290 by using the internet. By using the internet to file your truck tax allows you to quickly and with ease to fill out all required information in just a few short minutes. All you really have to do is sign up with a certified online software provider with your personal, business, and truck information; the signup process is so simple it will make you wonder why it had to be so tedious all the years before. With this easy online method, be sure you provide your name, business name, business address, the number of trucks that are in your possession, each of their Vehicle Identification Number or VIN, as well as the weight of each truck.
