How To Calculate Your Truck’s IRS HVUT Payment

Find out how much you need to pay the IRS for your Heavy Vehicle Use Tax with Form 2290.

During COVID-19, travel bans have been a big topic and stay-at-home orders have thinned out the morning traffic, but American truckers have been staying on the road. Commercial drivers are transporting goods, fighting shortages, and protecting a level of normalcy for our communities. 

As the U.S. fights COVID-19 and navigates reopening, the IRS Heavy Vehicle Use Tax is one of the few things that remains unchanged for our businesses and highways.  

What is the HVUT?

The Heavy Vehicle Use Tax (HVUT) is an annual fee on vehicles that weigh 55,000 pounds or more. If your vehicle drives over 5,000 miles, or 75,000 if it’s an agricultural vehicle, you will need to make an IRS tax payment. 

In order to determine and pay your HVUT, you will need to file Form 2290. Form 2290 is mandatory for all vehicles over 55,000 pounds, regardless of how far they drive in a given tax period. 

How Do I Calculate the HVUT?

The IRS calculates your HVUT based on the taxable gross weight of your vehicle when you file Form 2290.

Your vehicle’s taxable gross weight is how much it weighs when it is fully unloaded but still has all of its equipment. You will need this information to file Form 2290 and calculate your HVUT payment. You’ll also need to record the miles you drove and your date of first use. If you would like to find out before you file, visit our sister product, ExpressTruckTax and get a free estimation on how much your HVUT payment will be.

When is it Due?

Just like Form 2290, your HVUT due date is determined by your month of first use, but for vehicles not purchased this year, it is almost always August 31. 

Here are our top 5 reasons why more and more transportation professionals are choosing to e-file Form 2290. If you’re about to file, visit our checklist to make sure you are all set and ready to remain in good standing with the IRS. 

Can I Get My Money Back?

If you paid your HVUT and your vehicle did not end up traveling 5,000 miles during your tax period, you can still get your money back. You can always ask the IRS for a refund, but if your low mileage was something that probably won’t happen next year, you can just claim the unnecessary payment as tax credit against the payment you need to make next year. If your truck was sold, totaled, or stolen during the tax year, you can claim a partial amount of the tax.  

How to Pay HVUT

When you’re ready to pay your HVUT, ExpressE-file makes it easy to file Form 2290 and pay federal taxes online. Our software is the perfect tool if you like to do it yourself and move fast. We’re not about wasting time or taking the scenic route, we just want your truck to remain legal on the road so you can continue to keep the world running.

, , , , , , , , , ,

Leave a Reply

Your email address will not be published. Required fields are marked *