HVUT Form 2290 Late-filing Penalties - PowerPoint PPT Presentation

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HVUT Form 2290 Late-filing Penalties


Understand the due date for filing IRS 2290 form to avoid the IRS penalties. – PowerPoint PPT presentation

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Title: HVUT Form 2290 Late-filing Penalties

HVUT Form 2290 Late-filing Penalties
Understand the due date for filing IRS 2290 form
to avoid the IRS penalties.
A Guide by eForm2290.com
Form 2290 Late-filing Penalties by IRS
The IRS 2290 form is a tax form for heavy vehicle
owners with a taxable vehicle gross weight of
55,000 pounds or more. You can decide to file
your form 2290 utilizing both online and
conventional methods. If you wish to file
online, you must use an e-filing agency with IRS
authorization. In this article, you will learn
about the IRS form 2290 due dates to stay away
from the stringent IRS penalties.
When Should You File Your Form 2290? You must
file your IRS form 2290 for Heavy Vehicle Use Tax
(HVUT) annually. The tax period for form 2290
begins on July 1st and ends on June 30th of the
following year. The due date for filing form 2290
will be August 31st of every year. However, if
you have purchased a heavy vehicle, your due date
will be the last day of the month following the
month of first use. For example, if you purchased
a new vehicle on February 16th, 2021 and drove it
home from the dealership over a public highway,
you must file your form 2290 by March 31st,
2021. Note If the due date for filing form 2290
falls on a legal holiday or a weekend, then the
deadline will be the next business day.
Filing Form 2290 After the Deadline
  • If you fail to file your form 2290 within the due
    date, you will have to pay the IRS late-filing
    penalties as well as interest rates.
  • The IRS imposes a penalty of 4.5 of the total
    tax you owe, which will accrue every month for up
    to 5 months.
  • You will have to pay an additional monthly
    penalty of 0.5 of your total tax amount for
    failure to make the HVUT payment.
  • Apart from this, you will face an interest rate
    of 0.54 per month.

Besides the penalties, not filing your 2290 form
can also lead to other issues down the road.
For example, you must carry your new Schedule 1
copy when you operate your vehicle on US public
highways. Your form 2290 proof of payment is also
required if you wish to register your vehicle or
renew the license plates at the DMV.
Choose an IRS Authorized e-File Provider
The IRS knows that it can be hard for truck
owners to file their IRS 2290 manually. Thus, the
IRS has approved a few websites to e-file form
2290. To e-file, you must create an account in
any of the IRS authorized e-file service
providers. Since you are giving a great deal of
data, choosing a secure web-based filing site
with the best security frameworks is
crucial. Certain e-file service providers offer
extra advantages such as free VIN corrections and
unlimited refiling to make filing easier for you.

In Conclusion When you file your form 2290 on
time and pay the HVUT return, you ensure that
your business stays compliant and doesn't run
into any trouble with the IRS. As a truck
owner, being aware of the different methods of
filing and the due date will help you file your
form 2290 with ease and get your Schedule 1 copy
instantly. For more instruction on form 2290
filing, visit eForm2290.com/instructions/
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