If you’re a truck driver, you have an upcoming tax deadline that you don’t want to miss! The Highway Use Tax Return must be filed by August 31, 2018. Owners of most heavy highway vehicles must file Form 2290 by the deadline. Form 2290 applies to highway motor vehicles with a taxable gross weight of 55,000 pounds or more. This generally includes large trucks, truck tractors, and buses. Normally, vans, pick-ups, and panel trucks are not taxable because they do not meet the weight requirement. The tax is based on the weight of the vehicle and a variety of special rules apply.
For this year, the IRS is expecting to see close to 800,000 Heavy Highway Vehicle Use Tax Returns. They are encouraging all taxpayers to e-file their returns and take advantage of the speed, safety, and convenience of electronic filing. If you have more than 25 taxable vehicles, you are required to e-file Form 2290. Tax returns must be filed by August 31, 2018, for vehicles used on the road during July. This deadline also includes any tax payments that are required for those vehicles.
The IRS gives taxpayers the option to complete the entire process online from their website. You can visit IRS.gov for a list of Form 2290 instructions and all the special rules. Most taxpayers that opt into e-file see an IRS-stamped Schedule 1 within minutes of submitting their return. Once you receive your Schedule 1, you can print it out and provide it to the state department of motor vehicles without ever paying a visit to an IRS office.
If you need help filing your Heavy Highway Vehicle Use Tax Return, or just need help with your Income tax return, Polston Tax can help! Our team of tax accountants can help make sure all your returns are filed and that you remain compliant with the IRS. Call us today at 844-841-9857 or click below to schedule a free consultation.