Got a Used Truck? Don't Forget Your Form 2290 and Stamped Schedule 1

Buying a used truck is perhaps one of the most exciting undertakings an owner-operator or fleet manager will ever experience. Before hitting the road, however, one important question needs to be answered: do you file Form 2290 for a used truck just purchased?

Most likely, the answer to this would be yes in almost all circumstances. The owner of the vehicle at the time of its first use on a public highway during the tax period becomes responsible for filing and paying the Heavy Vehicle Use Tax (HVUT) and the previous owner need not have filed already.

The Important Rule: The "First Use"

The Form 2290 tax period runs from July 1st to June 30th of the following year. When you are to file for a used truck depends on when the vehicle is first used on a public highway and if the previous owner has already paid the tax for the current period.

Here is what you need to keep in mind:

• Transferability of HVUT It is not the vehicle that has the tax attached to it but the person or business who registers and uses it.
• Your first use date matters The Form 2290 and tax payment are to be done within the last day of the month succeeding the month of the first use of the vehicle under your ownership.
• Proof of Payment is Important Proof of payment, such as stamped Schedule 1, is what state DMVs require for truck registration. In short, without it, you can't get your plates.

After Buying a Used Truck: What Next?

Acquire VIN and Taxable Gross Weight.

The first thing you want to get is the VIN and Taxable Gross Weight of the truck. The above information is needed to fill up Form 2290.

Check Previous Owner's Tax Payment Status.

This is crucial. Ask the seller for a copy of their stamped Schedule 1 from the IRS proving they paid the HVUT for this current tax period. Even though they have paid, you now need to file Form 2290 to report the ownership change and get a Schedule 1 in your name. If they haven't paid, the responsibility falls completely on your shoulders.

Calculate Your Prorated Tax.

No one should be paying for the entire year if they buy a truck mid-tax year (after July). The tax is prorated according to the month in which you first use the vehicle. Our e-filing platform does this calculation for you automatically, so you can file with absolute confidence.

E-File Your Form 2290

E-filing is the quickest and most reliable way for you to receive a stamped Schedule 1.

• It is fast: You can receive your stamped Schedule 1 in as little as a few minutes.
• It is accurate: Our system has built-in checks to prevent common errors.
• It is a requirement: The IRS requires all who file for 25 or more vehicles to e-file; however, it is really the best option for everyone.

Say goodbye to Form 2290 as a roadblock. Understand the rules, use the efficient e-filing service, and your new truck on the new road will be IRS compliant quickly.