Thursday, June 21, 2012

2290 form and schedule 1


Form 2290 known as paying Heavy Highway Vehicle Use Taxes due for highway motor vehicles running on USA highways with a taxable gross weight of 55,000 pounds or more. It can be reported as taxable where it runs more than 5000 miles in a tax year or can be reported as suspended when it runs less than 5000 miles in a tax year.


HVUT or Heavy Vehicle Use Tax, is a federal highway tax obligatory annually on trucks, truck tractors, and buses using public highways. When you file Form 2290 as the acceptance, the IRS will provide a Stamped Schedule 1 as proof of payment and can also be used to register the vehicle at the DMVor MVA.

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