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The heavy vehicle use tax or HVUT is a fee assessed annually on heavy vehicles operating on public highways at registered gross weights equal to or exceeding 55,000 pounds. The current tax period is July 1, 2012-June 30, 2013. The deadline to e-file Federal Heavy Highway Vehicle Use Tax Return Form 2290 for Tax Year 2012-2013 is August 31, 2012.
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What happens if I do not file my Form 2290 HVUT?
The heavy vehicle use tax or HVUT is a fee assessed annually on heavy vehicles operating on public highways at registered gross weights equal to or exceeding 55,000 pounds. The current tax period is July 1, 2012-June 30, 2013. The deadline to e-file Federal Heavy Highway Vehicle Use Tax Return Form 2290 for Tax Year 2012-2013 is August 31, 2012.
The penalty for not filing the IRS Form 2290 by August 31st is equal to 4.5% of total taxdue. This amount is assessed on a monthly basis up to five months. Those who choose not to make their HVUT payment also face an additional monthly 0.5% of the tax due penalty. Additional interest charges of 0.54% per month accrue as well. Within 5 months of not filing and paying the HVUT tax, the HVUT liability that was originally $550 will be over $700. In addition to the monetary federal penalties, states suspend the registrations of vehicles for which proof of HVUT payment has not been provided. So not only will the taxpayer owe more money, they will also be unable to renew their registrations, so they will be unable to work. HVUT evasion penalties can even be as severe as fines and incarceration.
There are a few instances where a vehicle is exempt from paying the HVUT tax, even if most of those instances; A Form 2290 is required to be filed even if no tax is due. You can find detailed information on the IRS site at www.irs.gov/trucker.
States require a stamped Schedule 1 as proof of payment for the Heavy Vehicle Use Tax in order to register the vehicle. Instead of waiting for hours or up to 6 weeks for the IRS to stamp your schedule 1 and send it back to you, Express Truck Tax will get your Stamped Schedule 1 within minutes of filing. When you login to the site, you can enter the information for the Form 2290, and Express Truck Tax will then create a Schedule 1 based on that information. That form will be sent to the IRS electronically, and they will then send the stamped Schedule 1 back to Express Truck Tax, who will then automatically email the file to the taxpayer.
You can e-file your Form 2290 quickly and easily at ExpressTruckTax.com and receive your Schedule 1 within minutes. You can also log in with your Facebook or Gmail Accounts to e-file Form 2290. ExpressTruckTax introduced a mobile site m.expresstrucktax.com to e-file form 2290 from your smart phone from anywhere. Your Schedule 1 serves as proof of payment for your HVUT. Contact our friendly US based customer support center in Rock Hill, SC at 704-234-6005 or email us at [email protected].
