The first step in your trucking business’s annual reporting must be Form 2290, the Heavy Highway Vehicle Use Tax Return. It is updated each year by the IRS and must be reviewed to avoid penalty or incorrect filing. The latest Form 2290 instructions include some important changes and clarifications that every truck owner-operator, fleet manager, and tax preparer should know.

Updated Filing Deadlines and Payment Methods

One of the more significant changes in the new Form 2290 instructions is the emphasis on the filing deadline—August 31 for vehicles first used in July. Also new are the methods of payment promoted: electronic funds withdrawal (EFW), Electronic Federal Tax Payment System (EFTPS) and check or money order. 

Truckers will notice that credit and debit card payments were once considered the only choice, so be sure to plan accordingly to ensure timely submission.

VIN Corrections and Amendments Made Easier

The newly revised instructions make correction of your VIN (Vehicle Identification Number) a lot easier. If you mess up your VIN when you file, the IRS now provides a much more easy and speedy way to file a corrected Form 2290 without paying any additional fees. 

Recommended: amending your form 2290 for higher taxable gross weight or suspend of vehicle mileage limit There’s a lot of good info in the new instructions about how truckers can make adjustments to their form 2290s.

E-Filing Requirements for 25+ Vehicles

Another notable point is the IRS continues to enforce the requirement for all filers to file electronically for 25 vehicles or more, regardless of fleet size. What is clear is the IRS believes all taxpayers, big and small, should file electronically in order to receive faster processing times and less errors—even those unfamiliar with electronic filing. 

In fact, the update to the guidance even lists approved e-filing providers for potential new users, making it even easier to choose the right one for your company.

By keeping up to date with the latest Form 2290 instructions truckers can remain in compliance, avoid unnecessary penalties, and remain in service.