Truckers having October as their FUM Need to File Their Form 2290 by November 30, 2020
Heavy Vehicle Use Tax is mandatory for vehicles to file Form 2290 after the first use month.
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| Form 2290 |
What is Form 2290?
Form 2290 is an IRS form that has to be used by a trucker who owns a Heavy Vehicle with
a taxable gross weight of 50,000 pounds or more. This form is to calculate and pay the
Heavy Vehicle Use Tax (HVUT) to the IRS every tax year. HVUT is the annual fee collected
by the IRS from truckers who operate their vehicles on public highways. This HVUT is usually spent
on maintaining public roads.
ExpressTruckTax is an IRS-certified e-file provider supporting the filing of IRS Form 2290.
If you would like to file 2290, you can sign up with ExpressTruckTax for free. We simplified
the complete 2290 filing process, and you can get your scheduled Stamp 1 in a few minutes.
What is First Used Month (FUM)?
The month you start to use your heavy vehicle on the public highways for the first time is known as
First Used Month (FUM). The IRS expects you to file 2290 for that heavy vehicle before the end of
the next month following the First Used Month. The current tax year for filing Form 2290 starts from
July 1, 2020, and ends on June 30, 2021.
For example, if you drive your truck for the first time on November 23, 2020, then
the deadline to file IRS form 2290 is December 31, 2020. You should also pay the taxes while filing
your tax return.
Deadline for filing Form 2290 based on the First Used Month (FUM)
Deadline to file Form 2290 for FUM October
For the tax year 2020, the deadline to file Form 2290 depends on the First Used Month (FUM).
Let's take a look at the scenario below for better understanding.
Example
Let's consider that Kenneth is a trucker owning four trucks. He started to drive all the trucks on
public highways in October 2020. Generally, the deadline to file IRS form 2290 is the last day of
the next month following the FUM. In his case, the deadline to file 2290 and pay
taxes is November 30, 2020. He can paper file or e-file Form 2290 with the IRS.
How to E-file your Form 2290?
Before starting the e-filing process, make sure you have all the following information handy.
This will help you complete filing in a few minutes.
Here's how you can e-file 2290 with ExpressTruckTax
Sign up or log in to your ExpressTruckTax account.
Enter your business details, including Employer Identification Number (EIN)
Click on Start New Return and choose E-file for 1 truck or E-file for Multiple Vehicles
Select the Tax Year and First Used Month (FUM).
Enter the taxable vehicle details, including Vehicle Identification Number (VIN),
Enter your suspended vehicle details, if any.
Select the IRS payment method and follow the on-screen instructions.
Enter your 5-digit number to e-sign your return.
Transmit the form to the IRS.
You will receive your stamped Schedule 1 via email within 5 minutes after transmitting your return
to the IRS. You can download copies of your stamped Schedule 1 from your account dashboard.
What is the penalty for not filing form 2290?
You will receive penalties if you fail to file Form 2290 and pay taxes by the deadline.
If you have reasonable cause for not filing 2290, the IRS may waive your penalties.
However, the IRS makes the final decision on penalties based on your explanation.
Penalties and interests for not filing Form 2290
You will be charged 4.5% of the total tax due as a penalty if you fail to file 2290.
If you have not paid 2290 taxes, you will be charged 0.5% of the total tax due for not
Additional interest charges of 0.54% per month accrue.
To stay away from 2290 penalties and interest, you should file 2290 on or before the deadline.
You should also pay the taxes on time.
If you have any questions related to the IRS 2290 form, read our FAQs.
Get started with ExpressTruckTax today and stay compliant with the IRS!
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