Hello, truckers and trucking taxpayers! As we are in the middle of August, you should have already reported your Form 2290 HVUT returns for the new tax period, 2024-2025. If not, don’t delay further; report your Form 2290 taxes to the IRS for your heavy vehicles and get the Schedule 1 copy before the time ends. Staying in compliance with your Form 2290 responsibilities ensures smooth operations of your heavy vehicles and trucks on public highways. However, not all heavy vehicles fall under the same tax bracket. Reporting Form 2290 HVUT is mandatory for taxable vehicles and non-taxable vehicles. All heavy vehicles should have the proper Schedule 1 copy to operate on the public highway. There is another category of heavy vehicles that are entirely exempted from Form 2290 HVUT by the IRS and the Federal government. This blog dives deep into the world of HVUT, helping you determine your tax obligation and navigate the filing process efficiently.
