The next federal highway use tax return is due on August 31, 2017, so the IRS wants to remind truckers and other owners of heavy highway vehicle.
Generally, the deadline applies to IRS Form 2290 and the accompanying tax payment for the tax year that begins on July 1, 2017, and ends on June 30, 2018. For vehicles used on the road during July, returns must be filed and tax payments made by August 31. For vehicles first used after July, the deadline is the last day of the month following the month of first use.
The IRS is encouraging taxpayers to file (and pay any tax due) electronically, eveb though some taxpayers have the option of filing Form 2290 on paper. If your business has 25 or more vehicles, you must e-file. (Tax-suspended vehicles don’t count toward the 25-or-more taxed vehicle threshold.)
Ordinarily, vans, pick-ups and panel trucks aren’t taxable under the highway use tax, because it generally applies to trucks, truck tractors and buses with a gross taxable weight of 55,000 pounds or more.
The tax of up to $550 per vehicle is based on weight. Keep in mind that a variety of special rules apply to some vehicles, such as those with minimal road use.
If you have questions about filing this form, or you want to know whether your business falls under the rules, contact Filler & Associates or your tax advisor as soon as you can.