Late Penalties IRS Form 2290 Penalties and Interest

Form 2290 and its due date

The E-file Form 2290 is due August 31st unless that day falls on a weekend or holiday. The Tax period for the Heavy Vehicle Use Tax begins on July 1 and ends on June 30 of the following year.

A Form 2290 must also be filed once a vehicle is placed in service. The due date for each month is the last day of the following month.

For example: if a vehicle is placed in service on November 3rd, the Form 2290 will be due on December 31st.

IRS penalty for late filing & Penalty calculation

If you receive a penalty for filing your return late or paying your tax late and believe you have reasonable cause for doing so, send a letter to the IRS explaining why you believe you have reasonable cause for filing late or paying late. Do not attach an explanation when you file your return.

Failure to file could result in a penalty equaling 4.5% of the total tax due and is assessed on a monthly basis for up to 5 months. Late payments are also subject to penalties equaling .5% of the total tax due. Filers can avoid these penalties by filing their 2290 online returns quickly and easily on ExpressTruckTax now.

Penalties for HVUT non-compliance for states

If a taxpayer is not compliant with their state, The Secretary of Transportation has the authority to withhold up to 25 percent of the state's Interstate Maintenance funds if it fails to pass its compliance reviews.

How to avoid Form 2290 penalties?

The best way to avoid HVUT Filing Penalties on the Form 2290 is to file your return on

time. Statistics also indicate that you are less likely to make mistakes on your return

when you e-file the Form 2290 online.