The Internal Revenue Service (IRS) has issued a timely reminder to all individuals and businesses that have registered, or are mandated to register, large trucks and buses with a taxable gross weight of 55,000 pounds or more. The IRS strongly encourages the e-filing of Form 2290, the Heavy Highway Vehicle Use Tax Return, by August 31, 2023. This deadline is specifically for vehicles that were first used in July 2023.
The Heavy Highway Vehicle Use Tax is an annual federal excise tax imposed on heavy highway motor vehicles that operate on public highways. It is crucial to note that the filing deadline for this tax is not determined by the vehicle’s registration date. Instead, taxpayers must submit Form 2290 by the end of the month following the month in which the vehicle was first used on a public highway during the taxable period. This is irrespective of when the vehicle’s registration renewal is due.
For those who have 25 or more taxed vehicles registered under their name, e-filing Form 2290 and making the tax payment is mandatory. However, there is an exception for vehicles anticipated to be used for 5,000 miles or less within the tax period (or 7,500 miles for farm vehicles). While a return must still be filed for these vehicles, no tax is due initially. Should the vehicle surpass the mileage use limit during the tax period, the tax then becomes payable.
For vehicles that were first operated on a public highway in July 2023, the Form 2290 must be filed, and the corresponding tax paid between July 1, 2023, and August 31, 2023. If a taxable vehicle starts its operation in any month other than July, the tax amount should be prorated based on the months it was in service. For clarity on filing deadlines, the IRS website provides a comprehensive table to assist taxpayers.