IRS Schedule 1 Form 2290 is used to pay Heavy Highway Vehicle Use Tax (HVUT). Those that need to pay HVUT can do so online through an IRS authorized e-filer. Online filing is mandatory when filing for 25 vehicles or more. Even if you don’t have a lot of vehicles, the IRS still recommends that file online. Make sure you use a secure and authorized online e-filer. The government uses the money received from the taxes to help maintain and improve roads.
Here’s some of the information you’ll need when you file.
- – Name and company information
- – Vehicle Identification Numbers
- – Number of vehicles
- – Gross weight of the vehicles
You can e-file your form 2290 at www.eform2290.com
which is an IRS authorized website.
If you want to allow an employee of your business, a return preparer, or other third party to discuss your Form 2290 with the IRS, check the “Yes” box in the Third Party Designee section of Form 2290. Also, enter the designee’s name, phone number, and any five digits that person chooses as his or her personal identification number (PIN). The authorization applies only to the tax return on which it appears.
By checking the “Yes” box, you are authorizing the IRS to speak with the designee to answer any questions relating to the information reported on Form 2290. You are also authorizing the designee to:
Exchange information concerning Form 2290 with the IRS, and
Request and receive written tax return information relating to Form 2290, including copies of notices, correspondence, and account transcripts.
You must file Form 2290 and Schedule 1 for the tax period beginning on July 1, 2012, and ending on June 30, 2013, if a taxable highway motor vehicle (defined below) is registered, or required to be registered, in your name under state, District of Columbia, Canadian, or Mexican law at the time of its first use during the period and the vehicle has a taxable.
You may be an individual, limited liability company (LLC), corporation, partnership, or any other type of organization (including nonprofit, charitable, educational, etc.).
If you acquire and register or are required to register a used taxable vehicle in your name during the tax period, you must keep as part of your records proof showing whether there was a use of the vehicle or a suspension of the tax during the period before the vehicle was registered in your name. The evidence may be a written statement signed and dated by the person (or dealer) from whom you purchased the vehicle.
The law provides penalties for failing to file returns or pay taxes when due. There are also penalties for filing false or fraudulent returns. These penalties are in addition to the interest charge on late payments. The penalty for filing a return late or paying the tax late will not apply if you can show reasonable cause for not filing (or paying) on time.
The penalty for failing to file IRS Form 2290
by August 31 is equal to 4.5 percent of the total tax due, assessed on a monthly basis up to five months. Late filers not making an HVUT payment also face an additional monthly penalty equal to 0.5 percent of total tax due. Additional interest charges of 0.54 percent per month accrue as well.