The current tax period for heavy vehicles begins on July 1, 2022, and concludes on June 30, 2023. For newly bought automobiles, IRS form 2290 is due on the last day of the month after the month of the vehicle's initial usage.

On-time filing of the HVUT, 2290 tax form is mandatory for truckers
Every trucker in the United States is required to file the 2290 tax form as soon as possible. If a trucker fails to file a tax form and pay the tax, he will be subject to fines and interest. The trucker will not obtain a 2290 schedule 1 if he does not file the tax form. If a trucker vehicle does not have schedule 1, officials will not let them drive on a roadway.
Those who fail to file the 2290 form on time will face fines and interest from the Internal Revenue Service. Penalties may be imposed by the Internal Revenue Service for one of two reasons. One is for failing to file a tax return or for failing to pay taxes by the deadline. Another is for submitting fraudulent or fictitious tax returns with the IRS.
IRS encourages filing 2290 electronically
For 2290 filers, there are two options for filing, manual filing and e-file Form 2290. The Internal Revenue Service, on the other hand, encourages filers to use Form 2290 E-filing to submit their tax returns. If a trucker has more than 25 heavy trucks, he or she must file electronically. When compared to traditional filing, online filing is relatively straightforward and quick. The online filing allows the filer to complete many tax forms in less time. The filer receives schedule 1 in minutes when filing online. So, if you use online filing, you won't have to wait for your schedule 1.
Information Required for Form 2290
To file the 2290 tax form with the Internal Revenue Service, the filer will need the following information:
● Business information such as Employer Identification Number, Name, and address.
● Vehicle details such as Vehicle Identification Number, Taxable gross weight, and vehicle first used month.
● Preferred Heavy Vehicle Used Tax payment method.
IRS 2290 HVUT Payment Methods
For HVUT payments, the Internal Revenue Service offers the following four options.
● If you're filing online, choose the Electronic Funds Withdrawal (EFW) option. To utilize the EFW payment system, you'll need a bank account number, routing number, and account type.
● EFTPS (Electronic Federal Tax Payment System): To pay taxes through the EFTPS system, you must first enroll in the program.
● Using the payment voucher with a check or money order: fill out the payment voucher form 2290-V and submit it to the IRS. Before the deadline, you must mail a payment voucher.
● On the IRS website, make a debit/credit card payment: You may now pay your taxes with a credit or debit card by visiting IRS.gov/PayByCard.
Conclusion:
It's that time of year again! The deadline for filing your Form 2290, Highway Use Tax Return, is fast approaching. Truckers have until August 31st to file their taxes for the second quarter of the year. If you're not sure how to go about filing your return, don't worry - Form220-filing has all the information you need. Signup today to learn more and ensure that you're meeting all of your tax obligations.