Form 2290 or Heavy Vehicle Used Tax[HVUT] has to be used to report heavy truck tax to the IRS. When reporting tax on a highway motor vehicle using Form, the IRS Stamped Schedule 1 copy will be issued as proof of the payment. By E-filing your IRS 2290 Form you can get your IRS Stamped Schedule 1 copy in minutes, maximum on the same day of filing. This may be a case if IRS receives huge volume of returns for processing. Normally it won’t happen; you’ll be getting your IRS Stamped Schedule 1 copy in 60 minutes.
If Form 2290 is filed electronically, a copy of Schedule 1 with an IRS watermark will be sent via email. IRS provides the schedule 1 as a proof of filing your return. You can print out the stamped schedule 1 and use it if you need plates or registration. Form payment is to help provide funding IRS states to repair the roads damaged due to running of Heavy highway vehicles. Extensive running of Heavy highway vehicles weighing more than 55,000 pounds can cause repairs on the road. The IRS Stamped Schedule 1 Form payment helps pay for maintenance and repair as well as a variety of other programs to keep the roads to function properly. Proof of payment for state registration : States will require verification of payment of the tax for any taxable vehicle before they will register the vehicle.
Maintain Records for 3 Years
Keep records for all taxable highway vehicles registered in your name for at least 3 years after the date the tax is due or paid. They must be available at all times for inspection by the IRS. Also keep copies of all returns and schedules you have filed. Keep your records even if a vehicle is registered in your name for only a portion of a period. If the tax is suspended on a highway motor vehicle for a period because its use on public highways during the period did not exceed 5,000 miles, the registrant must keep the records at least 3 years after the end of the period.
Each Vehicle of Records must contain following Information :
- A vehicle description must contain VIN.
- The weight of loads carried by the vehicle in the same form as required by any state in which the vehicle is registered or required to be registered.
- The date you acquired the vehicle and the name and address of the person from whom you acquired it.