If you haven’t mailed it yet, you have a little more than a month to
file your 2290 tax form and pay your heavy vehicle use tax.
Truck owners have to pay the tax and get a stamped copy of their
Schedule 1 as proof of payment before they can get their new tags.
The 2290 form and the full amount of HVUT are due Thursday, Aug. 31.
Remember, the full amount of the tax is now due when you file. In 2005,
the IRS eliminated the quarterly payment plan for the tax, which totals $550 a
year for trucks weighing 75,000 pounds or more.
Last year was the first time paying the tax quarterly was not an option
and OOIDA’s Business Services Department reports it was not a popular change.
The full payment requirement puts a lot of truck owners in a financial bind – especially with diesel costs as high as they are. But the word on the street is
that the IRS made the change to cut down on tax fraud.