In this post, we’ll demystify the Highway Use Tax (HUT), also known as Form 2290. This tax is a key responsibility for many truck drivers, and understanding the requirements is essential. We’ll cover everything from who needs to file and how to determine your vehicle’s weight to the necessary documents and what happens if you miss a deadline.
Who Must File Form 2290?
The Highway Use Tax is a tax paid directly to the IRS. It’s required for any truck that has a taxable gross weight of 55,000 pounds or more. If your truck is under this weight, you do not need to file this specific tax.
How to Calculate Your Taxable Weight
To determine your vehicle’s taxable weight, you should look at the sticker on the inside of the truck’s door. The taxable weight is based on the combined weight of your truck and its maximum load. For instance, if your truck weighs 55,000 pounds but can haul a load up to 80,000 pounds, it’s considered a semi, and you would be required to pay the full-year tax of $550.
Deadlines and Prorated Filing
For renewals, Form 2290 is due by the end of August each year. However, if you add a new truck to your fleet during the year, you can file and pay the tax at the time of registration. The tax is on a prorated schedule, meaning the amount owed decreases as the months go on. For example, a truck registered in December would have a lower prorated payment of around $320, instead of the full $550.
What Documents Are Required to File?
To file Form 2290, you will need to provide:
- A copy of your vehicle’s title or registration to get the full VIN.
- Your corporation’s Tax ID number. Note that a Social Security number is not accepted.
- Your routing and account numbers for the IRS payment.
- A copy of your articles of incorporation to verify your business name and address.
- A valid email address.
Why Proof of Payment is Crucial for IRP Plates
In states like Illinois, the Secretary of State requires proof that your 2290 for the current period has been paid. This is necessary for both renewing your IRP plates and for applying for a new account. Without this proof, your renewal will be rejected.
What to Do if You Miss a Deadline
If you miss the filing deadline, you can still file. The IRS will send you a letter with late fees and penalties, which you must pay directly to them. It is still important to get your 2290 filed, as you will need the paid copy for your plate renewal. If you accidentally file for the wrong weight class, an amended filing can be done, and any difference owed can be paid electronically.
