The calendar is now rolled to July, it’s that time of year when you need to start preparing your Heavy Vehicle Use Tax (HVUT) return using IRS Tax Form 2290. This is an annual tax reported on heavy motor trucks operated on public highways. All truckers, truck owners, owner-operators, trucking companies who own and operate heavy motor vehicles with a gross weight of 55,000 pounds or more, estimated to drive 5,000 miles or more on public highways must file IRS Form 2290 and pay the annual federal excise tax in full.
Renew 2290 tax return
IRS reminds all the truckers to renew 2290 tax form and Schedule -1 proof for the tax year 2017 – 2018, starting this July. Anyone who registers a heavy highway motor vehicle in their name with a taxable gross weight of 55,000 pounds or more must file Form 2290, Heavy Highway Vehicle Use Tax Return. Continue reading
Hello there, all Hardworking Truckers, We admire and owe ya’ll as you continuously strive to contribute towards enhancing our nation’s economy. We realize that nothing ever comes to one that is worth having, except as a result of hard work. Without Truckers where would we be all? Hungry & plain. However, our truckers out there who had sacrificed their family and feelings towards accomplishing the work task. So they need timely updates on their Heavy Highway Vehicle Used Tax deadline (Form 2290) which they file annually to the Internal Revenue Service.
Most People don’t like deadlines; they think that a deadline is Negative Inspiration. Still it is better than No inspiration at all. Once you replace negative thoughts with positive ones, you’ll start having positive results. We say unless we got a deadline, we wouldn’t be able to react. Hence, it is up to us whether to take a deadline on a serious note or to omit with less care. However we advise you to stay aware of what might be the consequences of missing a 2290 Tax Deadline.
Benjamin Franklin, one of the Founding Fathers of our nation said, in this world nothing can be said to be certain, except Death & Taxes. A goal is a dream with a plan and a deadline. So the IRS has set a deadline (Due date) for the tax payers to accomplish this goal (To File & Pay Taxes on time) without any hurdles, meaning skipping the late filing fees and interest.
TruckDues.com was developed from one of most inspirational saying from our Former President Regan, “We can’t help Everyone; But Everyone can help Someone”, In our perspective we strongly believe that Truckers of the United States represent the major part of the country’s economy, hence they had to be prioritized among others and they work so hard to get our needs served so we ought to repay them; so we are by fulfilling the tax filing needs of Truckers & The Entire Trucking community since 2014.
Easter has passed by, yet the Form 2290 deadline has not..! The Form 2290 HVUT tax returns are due by the end of this month for vehicles that are into service beginning March, 2017. Penalties for HVUT non-compliance are serious money; it is equal to 4.5 percent of total tax due, assessed on a monthly basis up to five months. Late filers who don’t make an HVUT payment also face an additional monthly penalty equal to 0.5 percent of total tax due. Additional interest charges of 0.54 percent per month accumulate as well.
When April arrives our hearts are usually full of thoughts of renewal and fresh beginnings. These are the days when the sun is shining… it may bring us April showers but the warm showers are refreshing and invigorating because we know the sunshine will return soon. We also have Easter celebration lined up for us this weekend.