The tax year for form 2290, also known as the Heavy Vehicle Use Tax (HVUT) is from July 1st to June 30th of each year. This form is used to report the amount of taxes owed for vehicles with a gross weight of 55,000 pounds or greater.
The form 2290 must be filed by the last day of the month following the month in which the vehicle was first used on the public highway. For example, if the vehicle was first used in October, then the form must be filed by November 30th.
If the vehicle was first used during the last month of a tax period – June – then it must be filed by the end of the following month – July. Form 2290 can also be filed early, and filers may choose to pay their taxes in full or they can make installment payments over several months.
Those who must pay the Heavy Vehicle Use Tax include: owners of vehicles weighing 55,000 pounds or more; self-employed individuals who own and operate vehicles weighing 55,000 pounds or more; businesses that lease or rent vehicles weighing 55,000 pounds or more; businesses that transport property in these vehicles; and interstate motor carriers that are registered with the FMCSA.
Once you have filed Form 2290 and paid your taxes, you will receive a stamped Schedule 1 form from the IRS. This form serves as proof that you have paid your taxes for the current tax year and can be used to register your vehicle in most states.