Form 2290 pre-filing is now open for the 2021-22 tax year! For truck owners following a standard July 1st to June 30 tax period, Form 2290 is due August 31, 2021. The IRS officially starts accepting 2290 forms on July 1, 2021, but, with ExpressEfile, truckers can get a headstart on filing and transmit their return as soon as the season opens.
If you want to get ahead on your Form 2290 filing for the 2021-22 tax year or just need a review on your IRS filing requirements, here is what you need to know.
What is Form 2290?
Form 2290 is an IRS form that calculates the Heavy Vehicle Use Tax (HVUT). Trucking professionals use this return to report information such as first use month (FUM) and taxable gross weight to determine any tax payments they owe the IRS.
For heavy vehicle owners, Form 2290 is due every year. The Form 2290 deadline is determined by your FUM. Unless you recently purchased a new vehicle, the Form 2290 deadline for the 2021-22 tax year is August 31, 2021.
Who Needs to File Form 2290?
If you own a vehicle that weighs 55,000 pounds or more, you’re required to file Form 2290. If your vehicle is for blood collection or is an off-highway non-transportation vehicle, there may be an exception for you, but for the most part, everyone in the trucking industry needs to file Form 2290.
Chances are, you will probably also need to pay the Heavy Vehicle Use Tax (HVUT). If you drove under 5,000 miles (or 7,500 if you have an agricultural vehicle), you may not have to pay this tax, but you still need to file Form 2290 and get your stamped Schedule 1 as proof.
Benefits of Pre-Filing Form 2290
Filing Form 2290 is a big deal for the trucking industry and having your stamped Schedule 1 is mandatory. Completing Form 2290 ahead of time is a great way to ensure that you meet your deadline and get your 2290 Schedule 1 as soon as possible.
When you pre-file your return with ExpressEfile, you’ll receive your stamped Schedule 1 on July 1, 2021, the earliest possible date. If you complete your return before the season starts, you also don’t have to pay your HVUT right away. You can figure out how much you will owe the IRS and then have plenty of time to make your payment.
How to Pre-file Form 2290
- Select Form 2290 for the 2021-22 tax year
- Enter you information
- Catch and correct any mistakes
- Select your HVUT payment method, sign, and finalize
We will automatically transmit your return as soon as the IRS starts accepting Form 2290 for 2021. Get started now and take control of your Form 2290 filing process for the 2021-22 tax year!