07-24-2024
Who Must File Form 2290
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Who must File Form 2290?
1) Anyone who registers a heavy highway motor vehicle with a gross weight of 55,000 pounds or more in their name must file Form 2290.
2) In cases of dual registration, where the vehicle is registered in the owner's and another person's names, the owner must file Form 2290.
3) Owners of logging vehicles, which are used for transporting products harvested from forested sites, must also file Form 2290 but at a lower tax rate.
4) Any vehicle registered under a dealer's name must also have Form 2290 filed.
Who can get exemption from Filing Form 2290?
1) Highway vehicles operated by the federal government, District of Columbia, state or local governments, or the American National Red Cross are exempt from filing Form 2290.
2) Nonprofit volunteer fire departments, ambulance associations, and rescue squads are exempt from filing Form 2290.
3) Qualified blood collector vehicles and specially designed mobile machinery used for non-transportation functions are also exempt from filing Form 2290.
Read our blog on Form 2290 Exemption to learn more details.
What if you don’t File Form 2290?
If you are eligible to file Form 2290 and fail to do so by the due date, penalties will be imposed on your tax amount up to 4.5%. Avoid Form 2290 late file penalties by filing on time.
How to file Form 2290 smartly?
Although there are two methods for filing Form 2290—manual and online—choosing Form 2290 Online is a wiser choice for many reasons. Read our guide on How to efile form 2290 that saves your time and hard-earned money.
WRAP:
After reading the blog, you will have a clear understanding of who is eligible to pay and who is exempt from paying Form 2290. Proceed with the filing using our IRS-approved online portal, Simple Form 2290.