07-22-2024

Form 2290 Requirements [in 2024]

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Form 2290 is used to pay the tax owed on highway motor vehicles that have a taxable gross weight of 55,000 pounds or more during the tax period.

How Form 2290 can be Filed?

This can be done in 2 methods,

·       Paper,

·       Efile Form 2290

Both manual and electronic filing methods for Form 2290 require the same details, although there may be differences in the payment methods and tax calculation processes.

Form 2290 Requirements:

By choosing Simple Form 2290 Online Portal, you need to have the following details

·       Business Name: Your business name.

·       EIN: Your Employer Identification Number.

·       Business Type: Select whether it is individual, corporate, or another category.

·       Contact Information: Your address, phone number, and email ID.

·       Signing Authority Information: Name, designation, and phone number of the signing authority.

·       Form Type: Select Form 2290.

·       Tax Year: Select the tax year for which you are filing.

·       First Used Month (FUM): Select the month in which your vehicle was first used on highways.

·       Vehicle Identification Number: Enter the vehicle identification number (VIN).

·       Taxable Gross Weight: Enter the gross weight of the vehicle.

·       Vehicle Used for Logging: Indicate whether the vehicle is used for logging (Yes or No).

·       Card Details: To make payment for Form 2290

The tax amount is automatically calculated and displayed on the dashboard. You can then proceed to payment using the available options.

Based on the payment option you select, you will need to gather the required details. For example, if you choose the debit card option, have your card details ready.

Read our blog on how to efile form 2290 with Simple Form 2290 for an easy navigation.

Manual Filing Requirements:

For manual requirements, you need all the above-mentioned details. Along with that, you need to calculate the form 2290 on your own.

Form 2290 Tax Amount:

The tax amount to be paid will be provided on a separate sheet where you can enter the details and calculate accordingly. Refer to the table below for calculating the tax amount for Form 2290:

Gross Taxable weight	Heavy Vehicle Use Tax Rates
Below 55,000 lbs	No Tax
55,000 - 75,000 lbs	$100 plus $22 per 1,000 pounds over 55,000 lbs
Over 75,000 lbs	$550

 

Example: If your vehicle's gross weight is 56,000 pounds, the tax amount would be $100 + $22 = $122. This is clearly displayed on the form. You can enter the number of vehicles and calculate the total tax accordingly.

For logging vehicles, there are different tax rates, which can be found in the same sheet provided.

Payment:

You will need to attach the payment check leaf and share with the IRS.

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