Uses of IRS Tax Form 2290

The federal government enforces excise tax, Heavy Vehicle Used Tax(HVUT) for the heavy vehicle owners who uses public highways for transportation with a vehicle’s gross weight of 55,000 pounds or more. The collected HVUT Returns are distributed among the states to assist in highway construction and maintenance. In order to complete the tax returns for a year, the heavy vehicle owners need to file Form 2290 and the IRS issues the Stamped Schedule 1 when the filing is successful as a proof of payment.

IRS Tax Form 2290 is used to :

  • Pay the tax due on highway heavy vehicles with a taxable gross weight of 55,000 pounds or more, which is used during the tax period.
  • If the suspended vehicle exceeded the mileage usage limit during the tax period, the taxpayer needs to pay the tax due, for which the Suspension Statement is filed previously on another Form 2290.
  • Check and pay the tax due when the vehicle's taxable gross weight increases and falls into a new category during the tax period.
  • Claim for credit vehicle from the tax when the vehicle does not exceed the mileage usage limit 5,000 miles(7,500 miles for agricultural vehicles) during the tax period.
  • Claim credit for the paid taxes on vehicles, which is stolen, destroyed, sold or used within 5,000 miles.
  • Report acquisition of used heavy vehicle for which the tax is previously suspended.
  • Check and pay the tax due for the acquired and used vehicle during the tax period.

Stamped Schedule 1 Proof

  • Report all the heavy highway vehicles for which the tax is reported and for vehicles that you are filing suspension of the tax by their Category and VIN.
  • Register your vehicles under your name in any state.
  • As a proof of payment for filing the IRS 2290 Form.

Every truck owner is responsible to file Form 2290 before the due date for the betterment of the nation and also for themselves. The Stamped Schedule 1 issued by the IRS as the proof of payment for the IRS 2290 Form is inevitable to stay in roads.

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