The IRS is now accepting Form 2290 for the 2020-2021 tax year! Right now, your Schedule 1 from the 2019-2020 tax period is expired. It’s time to renew your vehicle’s status with the IRS and to do that, you need to file Form 2290.
What is Form 2290 Schedule 1?
Form 2290 Schedule 1 is a stamped document from the IRS that proves that you paid your Heavy Weight Vehicle Use Tax (HVUT) and are legal to be on the road.
It’s best to keep a stamped Schedule 1 in your truck cab at all times. Right now, the one you have from last year is expired. When you file Form 2290 with the IRS and pay your HVUT, you’ll receive a new IRS stamped Schedule 1 for the 2020-21 tax period.
How do I get my Stamped Schedule 1?
If you want to get your stamped Schedule 1 in minutes, e-filing is the way to go. When you file Form 2290 and pay your HVUT with ExpressE-file, you’ll instantly receive a new IRS stamped Schedule 1. You can either download and print it out yourself or, if you opt-into our postal mailing service, we’ll send it right to you.
Taxes can be a pain, but Form 2290 is something that only takes a couple of minutes and can save you a lot of time and money. This is an important step for your business to avoid penalties and stay in good standing with the IRS.
When is the HVUT Form 2290 Due Date?
For most vehicle owners, the HVUT Form 2290 due date is August 31. This deadline is based on your first use month. For most drivers who have not purchased a new vehicle this year, the first use month is July.
If your first use month was not July, your HVUT Form 2290 deadline will just be the last day of the month following your first use month. Click here for everything you need to know about form 2290.
How do I e-file Form 2290?
E-filing Form 2290 with ExpressE-file is simple. You just enter your business and vehicle information, EIN, VIN, and taxable gross weight, and we will find out what you owe in taxes for each of your vehicles. The IRS calculates that amount based on your vehicle’s weight category and First Use Month (FUM).
Once you complete Form 2290, we’ll double-check it for errors and transmit your form directly to the IRS.
You can make a one-time HVUT payment using either EFTPS, EFW, check, or money order, and then you are all set. You’ll receive your stamped Schedule 1 in minutes
E-filing isn’t just the fastest way to get your Schedule 1, it is also the best way to avoid mistakes and skip long IRS wait times. As your business adapts to COVID-19 and changes with the trucking industry, we hope you are staying healthy mentally, financially, and physically. For more information about why transportation professionals and trucking experts choose to e-file, click here.
Whenever you’re ready to file IRS Form 2290 for 2020-2021, we’re here to help.