Heavy Vehicle Use Tax is applicable to all motorized vehicles with a weight of 55,000 pounds or more. Better known as the Internal Revenue Service (IRS) 2290 tax, it covers trucks, truck tractors, and various other big vehicles making use of public highways. You should look into the subsequent info if you’re an owner or manager of a commercial truck or perhaps a number of vehicles in the same category.
What exactly is it for?
This specific heavy highway vehicle use tax is supposed to pay for the harm these kinds of huge vehicles cause on roadways. Because of their weight, continuous use can lead to impairs, which influence traffic as well as other business functions in a particular town or city. Proprietors and operators of these vehicles are obliged to pay for this tax so that respective authorities should have the required capital for highway maintenance and repair. The tax also helps these folks in other initiatives such as road extending and decongestion.
Are there any exceptions?
A number of vehicles are exempted from this tax. This includes the large vehicles of the federal, state, or local government, the American National Red Cross, along with the District of Columbia. Non-government organizations such as non-profit ambulance groups, volunteer fire departments, along with rescue teams. Blood collector groups having proper recognition from authorities can also be exempt from make payment on heavy vehicle use tax.
One other exception to this rule is vehicles utilized by the Indian tribal government during important tribal activities. There is also special consideration for the operations of mass transportation authority made under certain regulations.
How you can Apply for IRS Form 2290
There are actually two strategies to file for the Heavy Vehicle Use Tax (HVUT) form. The first is by way of conventional paper filing. Should you go with this option, you have to call your local Taxpayer’s Assistance Center (TAC) and request for for the document. You need to set a meeting with them so you can begin running the tax form. The process might take a while; you should fill out several forms and also send the required files.
The other method is through electronic filing or e-filing. You can do this utilizing the document offered on the IRS website. If you’d like a less arduous IRS 2290 filing, perhaps you may employ a third party company to complete the job for you. This will make the method quicker and much easier especially if you are filing a number of vehicles.
Either way, you should prepare the necessary information. Some of the basic information you need to fill out include the company name and information, total number of vehicles to be declared, as well as their respective Vehicle Identification Number (VIN). The gross weight is another matter you will need to look at. Take into account that every state has different prerequisites in looking at the gross taxable weight of vehicles. Most states however demand that you indicate the particular gross weights, gross weight category, as well as the actual loaded weights.
Start looking for several companies that can help you in filing heavy highway vehicle use tax. Make sure to decide on a reliable and experienced team to have the task finished effectively. Check online to see your choices. Make sure to make a price comparison of the service fees to the get the best deal.