Why Truckers need to pay Form 2290 Heavy Use Tax?

[Chris Kyle]

If your business operates heavy trucks with a gross weight of 55,000 pounds or more that drive on public highways, then you are required to file IRS form 2290 and pay a Heavy Vehicle Use Tax. Two different methods are available for the people to pay these taxes and e-filing is recognized as the most convenient method out of them. There are online services that facilitate this process, so it does not have to be a burden on your time.

Although it may seem like just another tax on small business, it is an important tax because the money is funneled to states for construction and maintenance projects. This is different from certain other types of taxation, such as income tax, because the money from the HVUT tax is used to fix a problem caused by those paying the tax. In other words, big trucks tear up the roads, and then the owners of the big trucks pay to have the roads fixed.

The 2290 form can be paid electronically or with a paper return. Many business owners prefer to file it electronically because of the advantages. A company may file multiple returns in a given year, but it is highly advisable to consolidate VINs whenever filing to reduce fees associated with filing and reduce error including the error of overpaying. The problem with consolidating returns is that you are required to file form 2290 the first month a heavy truck is used on a public highway. So if you purchase trucks throughout the year, you will have no choice but to file multiple times.

In addition to filing electronically, you can pay electronically using EFTPS or via bank draft. If you choose to use EFTPS, you should sign up as early as possible because you will have to wait up to 15 days for the IRS to assign a Personal Identification Number to you, after which you will have to create a password for your account.

Although there is a certain level of burden associated with paying the Heavy Vehicle Use Tax, it is a necessary tax to keep public highways in good working order, and several companies have made it as easy as possible to file by providing electronic filing and payment options. You can select such a company and pay the taxes on a timely manner in order to make it easy for the government to manage the quality standards of public highways. 

[Nancy Long]

The mass of the automobiles driving on public highways daily causes inevitable damage. The collection of these taxes go into road widening, decongestion, and various other road works ventures.