< iframe width="480" height="320" src="https://www.youtube.com/embed/1klwLgzhGu4?rel=0" frameborder="0" allowfullscreen >< img design="float: left; margin:0 5px 5px 0;" src="http://ustaxreview.org/wp-content/uploads/2021/06/fEbpOi.jpg"/ > What is HVUT? HVUT (Heavy Vehicle Use Tax) is a Federal Import Tax that is imposed on heavy trucks that operate on public highways in and all other states in the US. Any truck that weighs 55,000 pounds or more undergoes this tax in and other states. The federal tax is gathered annually and is used for the building and construction and maintenance of highways in and other states in the US. Other terms for referring Heavy Car Utilized Tax (HVUT) also include Kind 2290, Truck Tax and Highway Car Tax. ------------------------------------------------------------------------------------------------------------ How to file type 2290? There are 2 methods of filing type 2290 1. Paper filing 2. E-filing IRS recommends the truckers in and in other states to submit HVUT online since it is much easier, secure and faster compared to paper filing. Not only this, when you paper file, you need to by hand mail your returns to the Internal Revenue Service workplace. When you file your type 2290 online, you will get your stamped Schedule 1 copy within 15 minutes of Internal Revenue Service approval, however for paper filing, this will take about 5-45 days to get your copy. ------------------------------------------------------------------------------------------------------------ Who must file kind 2290? Anybody who - Has a truck with an estimated weight of 55,000 pounds or more should submit type 2290 and pay the HVUT tax and in every state in the United States - LLC - Corporations and companies - Collaboration The organizations may include charitable, non-profit or educational. Find out more about HVUT and other states by clicking here https://www.irs.gov/instructions/i2290 ------------------------------------------------------------------------------------------------------------ What do I need to file type 2290 and other states? - The EIN (Company Identification Number) and VIN (Automobile Info Number). - The gross weight of the automobile. - Name and resolve of your trucking company. ------------------------------------------------------------------------------------------------------------. What do I require to file type 2290? The current tax year is from 01 July 2019 and extends till 30 June 2020. If you have signed up a heavy highway car with a gross weight of 55,000 pounds or more in your name in and other states, then you must file Internal Revenue Service form 2290 and pay the HVUT and in other states where your company is based. If you've utilized your vehicle for the very first time in the existing month, then IRS HVUT need to be filed within the last day of the following month. When you submit with eForm2290, you will receive your Schedule 1 copy in a couple of minutes after Internal Revenue Service accepts your tax filings. Same guidelines apply irrespective of whether you're paying the tax or reporting suspension of the tax. ------------------------------------------------------------------------------------------------------------. Type HVUT Penalties. Penalty for HVUT and in other states are quite high. A failure to submit your IRS form 2290 by 31st August of a tax year amounts to 4.5% of your total tax due. This is assessed on a month-to-month basis for up to five months. ------------------------------------------------------------------------------------------------------------. For more details on e-filing type 2290 in, go to the IRS website at:. https://www.irs.gov/businesses/small-businesses-self-employed/trucking-tax-center. E-filing with eform2290 in is the fastest, most safe and secure and error-free way to complete your HVUT without using any manual tax estimations. ------------------------------------------------------------------------------------------------------------. Register today: https://www.eform2290.com/. ------------------------------------------------------------------------------------------------------------. Facebook - https://www.facebook.com/eform2290. Twitter - https://twitter.com/eform2290. Instagram- https://www.instagram.com/eform2290/. Pinterest - https://in.pinterest.com/eform2290/. ------------------------------------------------------------------------------------------------------------