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What You Need to Know: Heavy Highway Vehicle Use Taxes

Nobody likes paying taxes. Well, what if someone told you that you have to pay an extra 25% of your taxes just because you did not know when you were supposed to! You would probably feel like the driver of this vehicle:

I would be angry and make sure it doesn't happen again. That's why we want to share some facts with you about IRS required highway taxes.

If you plan on buying a truck, or already have one registered at 80,000 lbs. (or anything above 55,000 lbs.) this info could save you more than a few bucks!

First, let's figure out if you have to file this tax. According to the IRS, a heavy highway vehicle is "any self-propelled vehicle designed to carry a load over public highways that has a taxable gross weight of 55,000 pounds or more." Now this is a very general definition that is not really useful. To put it simply and figure out if you need to file just answer these questions:

  1. Do you own, use, or lease a truck registered for 55,000 or more lbs.?

  2. Will you need to register or renew the license plates for such a truck anytime between now and June 30th?

If you answered yes to any question above, then there is an extremely high chance that you are or will be required to file Form 2290 with the IRS.

Now, let’s see when you have to file & pay. Here are some important facts:

  1. The tax year runs the 12 months from July 1st until June 30th.

  2. The deadline is August 31st for almost everyone who has to file this year. One exception is if you bought your first truck on or after August 1st.

  3. The taxes paid for the current year will apply until June 30th of next summer.

On the other hand, if you just bought and used or registered the truck after August 1st, see the table below for the deadlines:

Keep in mind that even if you have to file the tax, you may not have to pay anything. There are too many exceptions and rules to list here. Get in touch with our office to consider your specific situation. Just click the “Contact Us” button at the top!

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