If your vehicle is expected to be used 5,000 miles or less on public highways during the taxable period (7,500 miles or less for agricultural vehicles), you may qualify for a suspension of the tax. This is known as a "Suspended Vehicle."
-
What is the Mileage Limitation for Suspended Vehicles?
CLICK HERE TO READ THE FULL ARTICLE »
-
What are the payment options for Form 2290?
You can pay the Heavy Highway Vehicle Tax electronically using various methods, including Electronic Funds Withdrawal (EFW), Electronic Federal Tax Payment System (EFTPS), and credit/debit card. Payments can also be made by mailing a check or money order to the IRS.
CLICK HERE TO READ THE FULL ARTICLE »
-
Do I need an Employer Identification Number (EIN) to file Form 2290?
Yes, an EIN is required to file Form 2290. You cannot use a Social Security Number (SSN) for this purpose.
CLICK HERE TO READ THE FULL ARTICLE »
-
When is the deadline to file Form 2290?
The annual deadline to file Form 2290 is August 31. If your vehicle was placed on the road during the tax period, you must file Form 2290 by the last day of the month following the month of first use.
CLICK HERE TO READ THE FULL ARTICLE »
-
Can I file Form 2290 online?
Yes, the IRS encourages electronic filing of Form 2290. It's faster, more convenient, and allows you to receive your stamped Schedule 1 instantly.
CLICK HERE TO READ THE FULL ARTICLE »
-
What should I do if my vehicle's weight category changes during the tax period?
If your vehicle's taxable gross weight increases during the tax period, you must file an amended return and pay any additional tax due. If the weight decreases, you may be eligible for a refund.
CLICK HERE TO READ THE FULL ARTICLE »
-
What happens if I don't file Form 2290 or pay the tax?
Failure to file Form 2290 or pay the tax on time may result in penalties and interest charges imposed by the IRS.
CLICK HERE TO READ THE FULL ARTICLE »
-
How can a tax professional or tax firm help me with Form 2290?
A tax professional can assist you in accurately completing and filing Form 2290, ensuring compliance with tax regulations, and helping you maximize any available tax benefits or deductions.
CLICK HERE TO READ THE FULL ARTICLE »