Hey everyone, it’s Amber with ExpressTruckTax, and today is Monday, August 28th. Oh my goodness, it flew by! The deadline to file your 2290 is this Thursday. Thursday, August 31st, is the deadline to file your 2290. Please do not wait until Thursday to file your 2290.
If you are watching this video, click the link below to go to ExpressTruckTax.com and log into your account and file your 2290 now. It seriously, seriously, it’s the deadline, just don’t even, don’t even worry, just do it now. Do it right now while you’re watching this video.
If you don’t have an ExpressTruckTax account, that’s your first problem. Uh, click the link below and register for an account. It’ll take you about two seconds, fill in your business information, your truck information, it will take you about five minutes. Seriously, this is the quickest, most efficient way to file your 2290. So go now to ExpressTruckTax.com to file your 2290.
And we are always here at this point in the game. We sleep here, we eat here, we do all the things here in our office, okay? So if you do have questions, we have the live chat option that’s on the website, there’s like a little bubble, as we are here. And then you can also email us at support@expresstrucktax.com.
Now listen very carefully, we do have phone support. It’s the last week of August, we are probably really busy with phone support, but we are here. So if you need to call us at 704-234-6005, and we will always return missed calls as well. So that’s what we do, that’s what sets ExpressTruckTax apart. Well, actually, there’s a lot of things that set ExpressTruckTax apart, but our customer support is how we are number one.
So we will get to your phone call, but you can always reach us by live chat and email as well. Just know that, and know that we are here to support you, and know that we do appreciate you, we appreciate our clients, and we know, we know that you’re busy, and you’ve been busy since May, and you’ll continue to be busy, and this is probably, I’m gonna guess, not on the list of your favorite things to do.
Um, so I get that, but I also am here to tell you that we’re here to support you in getting the things done, doing the adulting things, so that we can play and have fun over here, right?
All right, so thank you so much for using ExpressTruckTax. Let us know if you do have any questions. I appreciate you guys. Bye.
Thursday, August 31, is the 2023-24 Form 2290 deadline. Your return will be due with the IRS by midnight.
That’s not much time, but not to worry. We’ve got a list of everything you need and some great features to help you file your 2290 with ExpressTruckTax on time.
What you will need to file Form 2290?
In order to file your Form 2290, you will need the following information at your disposal:
Employer Identification Number
Business Name
Business Address
Vehicle Identification Number
First Used Month (FUM)
Taxable Gross Weight Category
ExpressTruckTax can simplify the filing process by cutting down on the amount of information you need to recall. Some of our great features that can help you when filing include:
1. Ready Return
If you have filed with us before and you are filing for the same truck, you can auto-populate your 2023-24 Form 2290 with the click of a button using our Ready Return feature.
ExpressTruckTax will use the information saved in your account from last time and use it to fill out your return. All you have to do is review the information and pay the e-filing fee. It’s that easy.
2. Instant Schedule 1
Any and all returns filed through ExpressTruckTax will be transmitted instantly to the IRS. The vast majority of them will be accepted within minutes of transmission, meaning you will get your stamped Schedule 1 back in minutes.
3. Free VIN corrections
Mistakes happen to the best of us – especially when it comes to 17-digit-long VIN numbers. If you accidentally file with the wrong VIN number, you can correct it for free with ExpressTruckTax!
4. 100% US-based Customer support
Our 100% US-based customer support team is working extended hours until the August 31 deadline! They are available when you need them and will answer any and all questions you have to help get you back on the road. Don’t hesitate to call (704) 234-6005.
CVSA Brake Safety Week is this week! It runs from August 20-26, 2023.
Brake Safety Week is a weeklong effort to enforce and spread awareness about the importance of brake system truck maintenance.
Be sure that your commercial truck maintenance is taken care of because tons of CVSA inspections will be taking place across the country.
If you’re not sure what’s included in truck maintenance for CVSA Brake Safety Week, ExpressTruckTax has put together a complete guide for CVSA 2023.
CVSA 2023 Inspections
Here’s what inspectors will be looking for, per the CVSA:
Check for missing, non-functioning, loose or cracked parts.
Check for contaminated, worn, cracked and missing linings or pads.
Check for S-cam flipover.
Listen for audible air leaks around brake components and lines.
Check that slack adjusters are the same length (from center of S-cam to center of clevis pin) and the air chambers on each axle are the same size.
Ensure the brake system maintains air pressure between 90-100 psi (620-690 kPa) and measure pushrod travel.
Inspect for non-manufactured holes (e.g., rust holes, holes created by rubbing or friction, etc.) and broken springs in the spring brake housing section of the parking brake.
Inspect required brake system warning devices, such as anti-lock braking system (ABS) malfunction lamp(s) and low air-pressure warning devices.
Inspect the tractor protection system, including the bleedback system on the trailer.
Ensure the breakaway system is operable on the trailer.
CVSA Resources
To make staying in the know easy, here is a compiled list of resources from the CVSA!
The 2023 Form 2290 deadline is coming up on August 31! While you’re prepping your brakes, don’t forget to file Form 2290 with ExpressTruckTax.com and avoid IRS penalties!
Hey, it’s Amber from ExpressTruckTax, and I cannot believe that it is already August. It seems like the days are flying by, and kids are already going back to school. It’s just craziness. Half of the office here is ready for fall and winter, and I am clinging to every second of summer that I can get. So, um, happy August!
With August comes, are you ready for it, the 2290 deadline? I know August 31st is coming, and just like the days are going really fast, this month will fly. And before you know it, it will be the deadline. Some common questions that we are getting right now are, “I made a mistake,” and again, there are several types of mistakes that can be made when you’re filing the 2290.
ExpressTruckTax has put a lot of return summaries, check your information, make sure it’s correct before you transmit to try to avoid mistakes. However, if you make a mistake, there are ways to fix most mistakes. Some mistakes cannot be fixed, and you have to call the IRS, which is a super big bummer.
But most mistakes, like a VIN correction, changing the name or the address, the wrong weight—those corrections can be made directly through your ExpressTruckTax account. When you go to Express Truck Tax, if you’re on a computer, you would just start a new return, and then there’s the 2290 amendments box over on the left that you need to select.
Then you would select which correction you need to make, which amendment you need to make, and then you transmit the return to the IRS. And then within, again, just a couple of minutes, you get that stamped Schedule 1 back with whatever the new VIN number or the correct weight.
You can also do, you know, let’s say you accidentally filed as a suspended vehicle, which is a category W. You can also do an amendment to take that to a taxable vehicle. So there’s lots of different things that you can do in your ExpressTruckTax account.
This is why we have a full support team ready to help you because these… This is complicated, and sometimes mistakes do happen. And so if you have questions about your 2290 or about how to correct a mistake that was made, give our support team a call. We’re here Monday through Friday, 8:30 to 5:30 Eastern. Our phone number is 704-234-6005. We also have email available, and, listen, we are here.
But the next several weeks will be super, super busy, and so if you cannot get through phone, send us an email, support@expresstrucktax.com, and we also have that live chat feature on the website as well. And so if you’re not able to get through phone, send us an email or do live chat.
It comes directly to us as well, and so we’re able to help you through making those corrections or just giving you the step-by-step guide to how to fix this. Again, thank you so much for filing with Express Truck Tax. We appreciate you and what you do. And let us know how we can help. Thanks so much! Bye.
The ultimate ExpressTruckTax filing giveaway is here! Simply file your 2023-24 Form 2290 by August 25th, 2023, and you’ll automatically be entered to win a BlueParrott B650-XT Noise Canceling Bluetooth Headset!
As the market-leading Form 2290 e-file provider, ExpressTruckTax has been the go-to solution for trucking companies for the past decade. And now, on top of all the benefits you’ll get from choosing us, you’ll also have the chance to score a great prize!
On August 28th, 2023 at 12PM EST, we’ll announce the lucky winner live on our Facebook page. So what are you waiting for? Enter for your chance to win a brand-new Bluetooth headset!
RULES & REGULATIONS
You must transmit a 2023-24 Form 2290 by midnight on August 25th, 2023 to enter to win.
By entering an ExpressTruckTax Giveaway (each, a “Sweepstakes”), you will be bound by these Terms & Conditions and you acknowledge that you satisfy all eligibility requirements. “ExpressTruckTax” means Span Enterprises LLC or any of its affiliates.
Eligibility
Open to individual legal residents of the 50 United States or the District of Columbia who have an ExpressTruckTax account and are 18 years of age or the legal age of majority in their state of residence prior to the date of entry. Employees of ExpressTruckTax, its affiliates, and their immediate family members are not eligible to participate.
Prize(s) and Winner Selection Method
ExpressTruckTax will award a prize to one or more individuals who file their 2023-24 Form 2290 on ExpressTruckTax.com between 7/1/2023-8/25/2023. Potential winner(s) will be selected at random from among all eligible entries received. The odds of winning depend on the number of eligible entries received. If you are a winner, an e-mail notification will be sent to you.
You must have an ExpressTruckTax account and have filed a 2023-24 Form 2290 before August 25, 2023, in order to enter or receive a prize. Limit one entry per person and household using only one ExpressTruckTax.com account per Sweepstakes. Prize(s) will be fulfilled by the Sponsor. Prize(s) will be delivered by ExpressTruckTax.com.
Each prize will be awarded “as is” and without warranty of any kind, express or implied (including, without limitation, any implied warranty of merchantability or fitness for a particular purpose). If you win a prize, you may not transfer, assign, or redeem the prize for cash. ExpressTruckTax may substitute a prize with a prize of equal or greater value.
How to Enter. You will automatically be entered to win a prize when you transmit a 2023-24 Form 2290 before August 25, 2023. If you do not wish to automatically be entered into the sweepstakes, you must notify us by email at support@expresstrucktax.com. If you choose to promote your entry (including that you filed your Form 2290) via social media or other channels, you should disclose your connection to the Sweepstakes. For example, it may be sufficient to include a statement such as #ExpressTruckTaxGiveaway.
This giveaway is not associated with Facebook.com or Twitter.com.
Other Sweepstakes. Additional Terms. Sponsor, together with ExpressTruckTax, reserves the right to modify or cancel a Sweepstakes at any time. Sponsor and ExpressTruckTax and its affiliates are not responsible for: (a) lost, misdirected, late, or incomplete entries or for inaccurate entry information; (b) any operation or transmission error, theft, unauthorized access to, or alteration of, entries; or (c) damage to any computer or device resulting from downloading Sweepstakes materials. Sponsor, together with ExpressTruckTax, may disqualify any individual found to be: (x) tampering with a Sweepstakes; (y) violating these Terms & Conditions; or (z) acting in an unsportsmanlike or disruptive manner or with intent to threaten or harass any person. Incomplete and robotic, automatic, programmed or similar entries will be disqualified. The authorized subscriber of the account used to enter a Sweepstakes at the actual time of entry will be deemed to be the participant and must comply with these Terms & Conditions in the event of a dispute as to entries submitted by multiple users having the same e-mail account.
If any errors occur in the selection of a potential winner, or if more prizes are claimed than specified, Sponsor or ExpressTruckTax may award the prize(s) by random drawing from among all eligible claimants. All prizes made available for a Sweepstakes may not be awarded in the event Sponsor or ExpressTruckTax does not receive a sufficient number of qualified and eligible entries for an applicable Sweepstakes.
Miscellaneous. Each Sweepstakes is governed by the laws of the United States. By entering a Sweepstakes, you agree (for yourself and your heirs) that Sponsor, ExpressTruckTax, and each of their respective affiliates and agents, and any entity involved in any aspect of the Sweepstakes (all aforementioned parties are collective, the “Released Parties”) will have no liability, and will be held harmless from and against liability, loss, injury or damage to property or person, including death, and reasonable attorney’s fees and court costs, due in whole or in part, directly or indirectly, by reason of the acceptance, possession, use or misuse of a prize or participation in the Sweepstakes, even if caused or contributed to by the negligence of any of the Released Parties.
Hey guys, so one of the great features that we added several years ago was the prepaid credit wallet, and that’s directly on your dashboard up in the right-hand corner. There is an option there to purchase credits ahead of time and get a 10% discount.
If you’re a service provider, we give you a 20% discount because of the volume of returns that you’re filing. So, again, service providers (CPAs) get a 20% discount. If you’re a business owner and you’re coming in to file once a year, you’re going to get a 10% discount on your filing fee.
One of the things that we’ve added is the option for you to purchase prepaid credits in the filing process. So once you select how many credits you want to add, those credits never expire, so they will always be in your account, and you can use them on future returns. So it doesn’t have to be the annual renewal; it can be if you come in, let’s say you add a truck, and you need to file another single-vehicle return, you can use that credit on another single-vehicle return.
So, um, that option is there for you, and it gets you a 10% discount on your current return that you’re filing, plus a 10% discount on the next returns that you file there after that. So that is a great option for you to save money and again save time because when you use those credits, you’re not checking out every time. One other thing is that it’s saving you money on those credit card processing fees.
You don’t have to enter those in every time when you purchase a number of prepaid credits. Let’s say you purchase two or five; you’ve got them in your account, and then you just go through the process. You don’t have to check out every time; you’re just going to use those prepaid credits until they’re gone, then you’ll be prompted to buy more prepaid credits. So this is a great option to save you time and money by purchasing prepaid credits and then using those credits on your future filings.
Every year, truck drivers across the country pay the Heavy Vehicle Use Tax (HVUT). But what exactly is the HVUT, and how does it work?
We answer these questions and more in our detailed look at highway use tax. Read on to learn more about what every truck driver should know before paying their HVUT.
What is Heavy Vehicle Use Tax?
The Heavy Vehicle Use Tax is an IRS tax based on the weight of your vehicle. It specifies that if you have a vehicle with a gross weight of 55,000 pounds or more and you drive it on public roadways, you must pay the HVUT. This is done by filing Form 2290 annually.
But what’s the point of highway use tax anyway? Essentially, it’s a way for owner-operators to pay a bit more for the upkeep of the national highway system. It evens the playing field since heavy trucks add more wear and tear to the roadways than other vehicles.
Calculating Heavy Vehicle Use Tax
To calculate your HVUT, you must first determine your taxable gross weight.
What is Taxable Gross Weight?
Your taxable gross weight is the combination of:
The actual unloaded weight of your motor vehicle fully equipped for service
The actual unloaded weight of trailers or semi-trailers fully equipped for service that are typically used with the vehicle
The weight of the maximum load typically carried on the vehicle and on the trailers or semi-trailers
Taxable gross weight categories
The HVUT varies based on your taxable gross weight category. For example, the HVUT payment for a vehicle with a gross weight between 55,000 to 75,000 pounds is $100. If your truck is over 55,000 pounds, you’ll need to add $22 for every 1,000 pounds that your vehicle weighs (with a cap at 75,000 pounds).
However, if your vehicle has a gross weight of over 75,000 pounds, the maximum HVUT payment you’ll make is $550.
A breakdown of tax rates
Vehicles below 55,000 pounds
No tax
Vehicles 55,000 pounds
$100
Vehicles over 75,000 pounds
$550
Vehicles between 55,000 and 75,000 pounds
$100 plus $22 for every1,000 pounds over 55,000
Penalties for non-compliance
If youmiss filing Form 2290 and making your HVUT payment on time, you could be penalized 4.5% of the total HVUT taxes due — this penalty can accrue for up to five months.
If you fail to pay the full amount of HVUT taxes due, you could also face a penalty of 0.5% of the unpaid tax per month, with a maximum penalty of 25%.
Tax Compliance for Heavy Vehicle Use Tax
To avoid IRS penalties, file Form 2290 and pay your taxes on time. You can do this by either e-filing or mailing Form 2290.
When to file Form 2290
The deadline to file Form 2290 and pay your HVUT is the last day of the month following the “first used month” of the vehicle. (For example, if you get a new truck in December and put it on the road, you must file your 2290 tax form by January 31st).
However, if you continue to operate your truck on public highways, you’ll file following the fiscal year. Since the tax year begins on July 1st and ends on June 30th, the deadline to file Form 2290 for most truckers is August 31st.
How to e-file Form 2290
E-filing is the easiest way to pay your HVUT. It’s also the only method the IRS will allow if you’re filing 2290 forms for more than 24 vehicles.
When you e-file, your return will be processed quickly, you’ll get your stamped Schedule 1 in a matter of minutes, and you’ll get your refund faster — usually within three weeks of the IRS receiving your tax return.
To e-file Form 2290 and pay your HVUT, you’ll need to do the following:
Gather your information – This includes your Employee Identification Number (EIN), Vehicle Identification Number (VIN), and taxable gross weight of each vehicle.
Choose a 2290 e-file provider and file – You cannot e-file Form 2290 on irs.gov. You must use a participating third-party provider like ExpressTruckTax.
If you paper file your Form 2290, you’ll need to print the return, fill it out, and mail it to the IRS, along with your check. This usually takes the IRS four to six weeks to accept your return.
If you’re sending Form 2290 with a full payment that is not drawn from an international financial institution,mail it to the Internal Revenue Service, P.O. Box 932500, Louisville, KY 40293-2500.
Amendments and Corrections to Form 2290
Form 2290 amendments should be filed when the information for the filed vehicle changes in these three ways:
There’s an increase in taxable gross weight
The mileage use has exceeded its limit
The VIN is incorrect
With ExpressTruckTax, we make it easy to file your 2290 amendments by accurately calculating the taxes due to the IRS so that you can get your updated Schedule 1 within minutes.
ExpressTruckTax can quickly file the increase in taxable gross weight and report the tax due for vehicles that exceed the mileage use limit. We also offer free VIN corrections to anyone who filed their original 2290 with us. Get started today with ExpressTruckTax.
Related Questions
Q: How does HVUT work?
A: The HVUT is an IRS tax that’s based on the weight of your vehicle. It’s paid by filing Form 2290 each year.
Q: What is the minimum weight requirement for HVUT?
A: If you have a vehicle with a gross weight of 55,000 pounds or more andyou drive it on public roadways, you must pay the HVUT.
A: If you miss the deadline to file your Form 2290 returns or don’t pay your HVUT taxes, you could face significant IRS penalties and interest charges.
Q: Who is exempt from paying HVUT?
A: Vehicles exempt from paying the HVUT include commercial vehicles that drive fewer than 5,000 miles a year, agricultural vehicles that drive fewer than 7,500 miles a year, vehicles not considered highway motor vehicles, and vehicles used for the collection of blood.
It’s time again for all truck owners and operators to file their 2023-24 Form 2290. This annual requirement might seem like a daunting task for many, but fear not! With ExpressTruckTax, e-filing has become the go-to method for millions of truckers. ExpressTruckTax is leading the way in making the process faster, easier, and more secure than ever before.
What is Form 2290?
Before we dive into the benefits of e-filing with ExpressTruckTax, let’s quickly recap what Form 2290 is all about. Form 2290 is a federal tax form used to report and pay Heavy Highway Vehicle Use Tax (HVUT). This tax is imposed on heavy vehicles with a gross weight of 55,000 pounds or more, and it helps fund and maintain the nation’s highway infrastructure.
The Evolution of E-Filing
Gone are the days of paper forms and long waits at the IRS office. Thanks to ExpressTruckTax, truck owners can now electronically file Form 2290, making the process much smoother and more efficient. E-filing has gained immense popularity over the years due to its numerous advantages, such as:
1. Speed and Efficiency: E-filing with ExpressTruckTax allows you to submit your Form 2290 within minutes. Traditional paper filing could take weeks, but with the click of a few buttons, your tax return is transmitted to the IRS instantly.
2. Accurate Tax Calculations: Manual calculations can lead to errors, which might result in penalties. ExpressTruckTax’s e-filing platform comes equipped with built-in calculators, ensuring that you provide accurate information and pay the correct amount of tax.
3. Time and Money Savings: E-filing eliminates the need for postage and reduces the chances of costly mistakes. It also saves you valuable time, which you can invest back into your trucking business.
4. Instant Proof of Filing: Once your Form 2290 is successfully transmitted, ExpressTruckTax provides you with a stamped Schedule 1, the proof of payment, within minutes.
5. Enhanced Security Measures: One of the main concerns with electronic filing is data security. However, ExpressTruckTax prioritizes data protection and employs advanced security protocols to safeguard your sensitive information.
Why Choose ExpressTruckTax?
Among the numerous e-filing service providers, ExpressTruckTax stands out as a reliable and user-friendly platform that caters specifically to truck owners and operators. Here are some compelling reasons to choose ExpressTruckTax for your Form 2290 e-filing:
1. US-Based Dedicated Customer Support: Should you encounter any issues during the e-filing process, ExpressTruckTax’s customer support team is readily available to assist you through phone, email, or chat in English and Spanish!
2. Pay your IRS tax with a Credit or Debit Card during the filing process: No need to re-enter your credit card information! Pay your filing fee and IRS tax payment in ONE easy transaction.
3. Multi-Platform Accessibility: Whether you’re using a computer, tablet, or smartphone, you can access ExpressTruckTax from anywhere, at any time, and complete your filing with ease.
4. Affordable Pricing Options: ExpressTruckTax offers competitive pricing, ensuring that you only pay for the features you need.
Conclusion
In conclusion, e-filing your 2023-24 Form 2290 with ExpressTruckTax is undeniably the only way to go. The advantages of speed, accuracy, convenience, and enhanced security make it the smart choice for truck owners and operators. Embrace the digital revolution, save time and money, and rest assured that your tax filing is in capable hands with ExpressTruckTax.
If you own or operate a truck, it’s important to become familiar with trucking taxes, especially highway taxes for trucks. Staying compliant with IRS and state tax laws is imperative to running and growing your business so it can be successful and thrive.
Avoiding tax payments is the biggest tax mistake a business can make while miscalculating trucking taxes can also cause expensive and time-consuming problems. But understanding trucking taxes, like highway taxes, can be difficult to navigate.
To help you out, we’ve put together a comprehensive guide to cover everything you need to know about highway taxes for trucks — from the various types and how they work to the impact they make on the trucking industry.
A Comprehensive Guide to Trucking Taxes
Independent truck drivers and owner-operators pay several federal and state taxes. Some of the most common taxes in the trucking industry are:
Estimated tax
Self-employment tax
State income tax
Federal income tax
Highway taxes for trucks also include the following:
IFTA fuel tax
Heavy vehicle usage tax
Excise tax
A Closer Look at Estimated Tax & Self Employment Tax
If you’re self-employed and expect to owe at least $1,000 in taxes, you must make estimated tax payments. These quarterly payments include self-employment tax and federal and state income tax.
Knowing how much to put aside for estimated tax payments can be tricky. But generally, you’ll want to allocate about 25% to 35% of your monthly earnings.
For a more exact number, use Form 1040-ES to figure out your estimated tax.
Your income tax will likely fall into the 10% to 12% income tax bracket, and your self-employment tax should be roughly 15.3% of your net earnings (this includes a 12.4% social security tax and a 2.9% Medicare tax).
Each quarter, you can pay your federal tax estimates online or via the IRS mobile app (if you have an electronic federal tax payment system account, you can make your payments there). Many states also let you pay your estimated taxes online.
An Overview of State Income Truck Taxes
Forty-three states and the District of Columbia have state income taxes. The seven states that do not impose individual income taxes are Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming.
The definition and rules of taxable income vary by state. For example, New Hampshire and Tennessee residents only pay tax income from dividends and interest.
Truck driver taxes also vary from state to state. For example, in Washington, independent contractors and owner-operators could be subject to public utility tax, business and occupation tax, retail sales tax, and use tax. Again, check your state’s government website for more details.
A Look at Federal Income Tax — Form 1099 for Truck Drivers
Whether you work as an independent contractor or you hire one out for your trucking business, you’ll still have to report how much money was paid. That’s where 1099 forms for truck drivers come into play.
1099 forms for employers
If you paid an independent contractor more than $600 in a tax year, you’ll need to report the compensation you gave them on Form 1099-NEC.
To file a 1099 form, you’ll include the following:
Your business name
Your business address
Your EIN
Your independent contractor’s name
Your independent contractor’s EIN or social security number
Your independent contractor’s address
If you need your independent contractor’s information, you can request it through a W-9.
There are also additional federal and state details you’ll need to know, depending on where you live. This could include state income, payer state number, and withheld state tax.
1099 forms for truck drivers
As an independent trucking contractor, you’ll need client 1099s to report the income you earned during the tax year.
If you haven’t been making estimated quarterly payments, then you’ll likely end up owing the IRS for state and federal taxes, social security, and Medicare.
Understanding the International Fuel Tax Agreement
The International Fuel Tax Agreement (IFTA) collects fuel taxes by interstate commercial carriers and redistributes them. It was adopted in 1996 to make transferring fuel taxes between states and provinces easier.
IFTA also helps repair and maintain roads and highways in each state and province so they are safe and reliable, ultimately decreasing the risk of vehicle damage for motor haulers.
Who qualifies for IFTA?
You must have an IFTA license and decals if you:
Have a “qualified motor vehicle”
Travel between two or more of the member jurisdictions (48 of the United States and 10 Canadian provinces)
A vehicle that’s qualified for the IFTA tax has:
Two axles and a gross vehicle weight exceeding 26,000 pounds
Two axles and a registered weight exceeding 26,000 pounds
Three or more axles, regardless of weight
A combination weight exceeding 26,000 pounds
IFTA base jurisdictions
Once you obtain an IFTA license, you can travel through all IFTA jurisdictions. You’ll also be required to submit one fuel tax return per quarter to your base jurisdiction.
A base jurisdiction is where your truck and information are registered. It’s also where your operational control and records are maintained. It should be the state where your qualified motor vehicle is traveling within the fleet, accruing mileage.
*Alaska, Hawaii, District of Columbia, Yukon Territory, Northwest Territory, and Nunavut are not included in IFTA.
How to apply for an IFTA license
If your trucking business requires an IFTA license, you must submit an application in the state where your company is located. It’s important to find the IFTA requirements and vehicle registration process for your state.
To apply for an IFTA license, you’ll need the following information:
USDOT number
Registered business name
Mailing address
Federal business number
Once your application is processed, you’ll receive two issued IFTA decals for your vehicle for the current year. Both of these will need to be displayed on each side of your truck cab.
Note: IFTA licenses and decals expire each year on December 31st. You have until March 1st of the following year to renew them.
Obtaining an IFTA license and decals is important for running your trucking business. If you don’t have an IFTA license and decals on your vehicle, you could face penalties. Not displaying your IFTA decals can also result in fines of up to several thousand dollars.
Filing a quarterly IFTA return
IFTA must be reported by the last day of the month, after the end of each quarter. For example, here are the typical dates for each reporting quarter.
Quarter
Period
Deadline
First Quarter
January to March
April 30
Second Quarter
April to June
July 31
Third Quarter
July to September
Oct. 31
Fourth Quarter
October to December
Jan. 31
Note: If the due date falls on a weekend or public holiday, the due date will be pushed to the next business day. For example, the first quarter payment for 2023 was pushed to May 1 since April 30 fell on a Sunday.
To complete an IFTA quarterly tax return, you’ll need the following information:
Total miles, taxable and nontaxable, traveled by the licensee’s qualified motor vehicles in all jurisdictions, IFTA and non-IFTA, including trip permit miles
Total gallons of fuel consumed, taxable and nontaxable, by the licensee’s qualified motor vehicles in all jurisdictions, IFTA and non-IFTA
Total miles and taxable miles traveled in each member jurisdiction
Taxable gallons consumed in each member jurisdiction
Tax-paid gallons purchased in each member jurisdiction
Current tax rate for each member jurisdiction
Heavy Highway Vehicle Use Tax: What You Need to Know
The Heavy Vehicle Use Tax is an IRS tax based on the weight of your vehicle. If you have a vehicle with a gross weight of 55,000 pounds or more andyou drive it on public roadways, you must pay the HVUT. This is done by filing Form 2290 annually.
Calculating Heavy Vehicle Use Tax
To calculate your HVUT, you must first determine your taxable gross weight, which is the combination of the following:
The actual unloaded weight of your motor vehicle fully equipped for service
The actual unloaded weight of trailers or semi-trailers fully equipped for service that are typically used with the vehicle
The weight of the maximum load typically carried on the vehicle and on the trailers or semi-trailers
Taxable gross weight categories
The HVUT varies based on your taxable gross weight category. For example, the HVUT payment for a vehicle with a gross weight between 55,000 to 75,000 pounds is $100. If your truck is over 55,000 pounds, you’ll need to add $22 for every 1,000 pounds that your vehicle weighs (with a cap at 75,000 pounds).
However, if your vehicle has a gross weight of over 75,000 pounds, the maximum HVUT payment you’ll make is $550.
A breakdown of tax rates
Vehicles below 55,000 pounds
No tax
Vehicles 55,000 pounds
$100
Vehicles over 75,000 pounds
$550
Vehicles between 55,000 and 75,000 pounds
$100 plus $22 for every1,000 pounds over 55,000
The Importance of Highway Tax for Trucks
In the past few decades, the volume of truck weight has grown significantly, and the trucking industry is only going to continue to grow in the coming years. According to the Department of Transportation, the freight tonnage carried by trucks is expected to increase by 50% between 2002 and 2035.
Since heavy trucks add more wear and tear to the roadways, the heavy highway vehicle use tax evens the playing field. By collecting HVUT payments, the IRS is able to funnel money back into the country’s transportation funding. By helping to repair roads and maintaining the nation’s highways, the HVUT can help with the following:
Reducing car crashes
Lowering fuel and insurance costs
Easing traffic congestion
Increasing air quality by decreasing energy consumption
Strengthening the country’s economic productivity
Tax Compliance for Heavy Vehicle Use Tax
To avoid IRS penalties, file Form 2290 and pay your taxes on time. You can do this by either e-filing or mailing Form 2290.
When to file Form 2290
The deadline to file Form 2290 and pay your HVUT is the last day of the month following the “first used month” of the vehicle (for example, if you get a new truck in December and put it on the road, you must file your 2290 tax form by January 31st).
However, if you continue to operate your truck on public highways, you’ll file following the fiscal year. Since the tax year begins on July 1 and ends on June 30, the deadline to file Form 2290 for most truckers is August 31st.
How to e-file Form 2290
E-filing is the easiest way to pay your HVUT. It’s also the only method the IRS will allow ifyou’re filing 2290 forms for more than 24 vehicles.
When you e-file, your return will be processed quickly, you’ll get your stamped Schedule 1 in a matter of minutes, and you’ll get your refund faster — usually within three weeks of the IRS receiving your tax return.
To e-file Form 2290 and pay your HVUT, you’ll need to do the following:
Gather your information – This includes your Employee Identification Number (EIN), Vehicle Identification Number (VIN), and taxable gross weight of each vehicle.
Choose a 2290 e-file provider and file – You cannot e-file Form 2290 on irs.gov. You must use a participating third-party provider like ExpressTruckTax.
If you paper file your Form 2290, you’ll need to print the return, fill it out, and mail it to the IRS, along with your check. This usually takes the IRS four to six weeks to accept your return.
If you’re sending Form 2290 with a full payment that is not drawn from an international financial institution,mail it to the Internal Revenue Service, P.O. Box 932500, Louisville, KY 40293-2500.
Amendments and Corrections to Form 2290
Form 2290 amendments should be filed when the information for the filed vehicle changes in these three ways:
There’s an increase in taxable gross weight
The mileage use has exceeded its limit
The VIN is incorrect
Penalties for non-compliance
If youmiss filing Form 2290 and making your HVUT payment on time, you could be penalized 4.5% of the total HVUT taxes due — this penalty can accrue for up to five months.
If you fail to pay the full amount of HVUT taxes due, you could also face a penalty of 0.5% of the unpaid tax per month, with a maximum penalty of 25%.
Understanding Federal Excise Taxes for Truck Drivers
If you’re new to the trucking industry, the first tax you’ll likely face is the federal excise tax.
Excise taxes are imposed on the sale of certain goods or services, including the purchase of fuel, heavy trucks and highway tractors, tobacco, and more. Federal excise taxes apply to trucks, tractors, truck trailers, and semi-trailers. They must be paid to the federal government after purchase.
Federal excise taxes for truck drivers fund the Highway Trust Fund. These payments are then used for road repairs and to expand the U.S. highway system.
Federal Excise Tax Form 720
Anyone involved in the sales of goods or services, such as fuel, heavy trucks, and other goods in Part I and Part II of Form 720, must pay excise taxes using Form 720, Quarterly Federal Excise Tax.
This form must be submitted for every quarter until you file a final return. The deadline to file Form 720 is the last day of the following month of the quarter’s end month (see the IFTA quarterly table above).
How to Calculate Federal Excise Tax On Trucks
The IRS imposes a 12% federal excise tax on the first retail sale of truck chassis and bodies, truck trailers and semi-trailer chassis and bodies, and tractors used for highway hauling along with a trailer or semi-trailer.
The tax only applies to truck chassis and bodies suitable for use with a gross vehicle weight of 33,000 pounds or more. It does not apply to a truck trailer and semi-trailer chassis and bodies suitable for use with a trailer or semi-trailer with a gross vehicle weight of 26,000 pounds or less. Tractors with a gross vehicle weight of 19,500 or less and a gross combined weight of 33,000 pounds or less are also exempt from paying the 12% federal excise tax.
How to claim tax credits on Federal Excise Tax using Form 8849
Form 8849, Claim for Refund of Excise Taxes, is a tax form used to claim credits when a vehicle is stolen, destroyed, or sold. You can also claim credits if you overpaid taxes. There are six schedules available to be attached to Form 8849:
Schedule 1 – Nontaxable Use of Fuels
Schedule 2 – Sales by Registered Ultimate Vendors
Schedule 3 – Certain Fuel Mixtures and the Alternative Fuel Credit
Schedule 5 – Section 4081(e) Claims
Schedule 6 – Other Claims
Schedule 8 – Registered Credit Card Issuers
Note: You must only attach the schedules on which you are claiming a refund. Keep in mind that you cannot file Schedules 2, 3, 5, and 8 with any other schedules on Form 8849. You must file each of these schedules with a separate Form 8849.
ExpressTruckTax supports Schedule 6
If you want to claim refunds of excise taxes, use Form 8849 Schedule 6. Alternatively, you can use those funds to pay your taxes for the current year. When you e-file Excise Tax Form 2290, our system auto-generates Form 8849 Schedule 6 if your tax credits exceed your HVUT.
Highway Tax for Trucks – Final Thoughts
Staying on top of highway use taxes not only keeps you compliant with IRS and state tax laws, but it also benefits the trucking industry as a whole.
By contributing to the nation’s transportation funding, you’re ensuring that roads are repaired and maintained. This, in turn, helps improve how efficiently goods are moved and ultimately strengthens the nation’s economic productivity.
For more information about highway tax for trucks, visit ExpressTruckTax and check out the resources below:
As a responsible truck owner-operator, it is essential to stay compliant with the IRS regulations by filing your Heavy Vehicle Use Tax (HVUT) Form 2290 accurately and promptly. However, this task can be daunting and time-consuming. Fortunately, with the assistance of ExpressTruckTax, the number one IRS-authorized e-filing solution, the process becomes incredibly efficient. In this blog, we’ll walk you through the streamlined steps to file your Form 2290 quickly and hassle-free with ExpressTruckTax.
Step 1: Register or Log in to your ExpressTruckTax Account
Begin by creating an account with ExpressTruckTax if you’re a first-time client or log in if you already have an existing account. We offer a simple and intuitive registration process, requiring only basic information to set up your account.
Step 2: Choose your Filing Period and Enter Vehicle Information
Select the tax year and the appropriate tax period for which you need to file your Form 2290. Typically, the tax year for Heavy Vehicle Use Tax runs from July 1st to June 30th of the following year. Choose whether you are filing for the current tax year or a previous tax year. You’ll also need to enter the required details about the vehicles you report on Form 2290. You’ll need information like the Vehicle Identification Number (VIN), taxable gross weight, and the first-used month of each vehicle during the tax period.
Step 3: Calculate Your HVUT and Choose Your IRS Payment Method
Once you have entered all the necessary vehicle details, ExpressTruckTax will automatically calculate the Heavy Vehicle Use Tax for each vehicle based on the provided information. We ensure accurate calculations, minimizing the risk of errors and potential IRS penalties. Next, select your preferred payment method to pay the calculated HVUT amount to the IRS. ExpressTruckTax, drivers and fleet managers can simplify the HVUT payment process and streamline their tax compliance responsibilities by choosing to pay the IRS tax due via credit card.
Step 4: Transmit to the IRS
After verifying all the information, review your Form 2290 for accuracy. Once you are confident that everything is correct, transmit your form directly to the IRS using our secure e-filing system. ExpressTruckTax will provide an IRS stamped Schedule 1 as proof of filing your Form 2290, which will be sent to your registered email within minutes.
Step 5: Receive your Stamped Schedule 1
Within minutes of filing your Form 2290, you will receive the IRS stamped Schedule 1 in your email, confirming your successful HVUT filing. You can also access your stamped Schedule 1 anytime by logging into your ExpressTruckTax account.
Filing your annual Form 2290 does not have to be a cumbersome and time-consuming process. With ExpressTruckTax, you can efficiently file your Heavy Vehicle Use Tax, saving both time and effort. The user-friendly platform guides you through each step, ensuring accurate calculations and prompt transmission of your form to the IRS.
Stay compliant and worry-free with ExpressTruckTax, the trusted e-filing solution for truck owners and operators. Get started today and experience the ease of electronic filing with ExpressTruckTax!
