The federal government requires owners of heavy motor vehicles or trucks with a taxable gross weight of 55,000 pounds or more, operating on public highways, to pay an excise tax known as the Heavy Vehicle Use Tax (HVUT). This tax is filed using Form 2290.

Do you have to file form 2290 every year?

Yes, Form 2290 must be filed annually with the filing period running from July 1st to August 31st each year. The deadline to submit Form 2290 is August 31st. It’s important to file before this date to avoid penalties for late filing. Refer to our blog on consequences of ignoring form 2290 deadlines to understand the impact of ignoring Form 2290 deadlines.

When is the due date for filing a new vehicle?

Here's an example to explain: when a vehicle is purchased and first used on a public highway in September, the due date for filing Form 2290 will be October 31st—the last day of the month following the vehicle's first use. This is the standard method for calculating the due date for newly purchased vehicles. For a deeper understanding of Form 2290 due dates, check our blog on the topic Form 2290 due dates.

Is the Tax amount paid for the entire Tax period if a vehicle is bought in mid-year?

No, the IRS does not require you to pay the Heavy Vehicle Use Tax for the entire year if a vehicle is purchased mid-year. Let's clarify this with an example:

If someone purchases a new taxable vehicle on November 1, 2024, and first uses it on public highways that same month, they must file Form 2290 by December 31, 2024. This filing will cover the period from November 1, 2024, through June 30, 2025.

This is why the Vehicle First Used Month (FUM) is crucial in determining the tax amount, as it directly influences how much is owed.

WRAP:

After reading the blog, you'll gain a clear understanding of whether Form 2290 is filed annually and when it is due for a new vehicle. You'll also understand the importance of filing Form 2290 before the deadline to avoid penalties.

File your Form 2290 with our online portal and save your hard-earned money!