When Filing 2290, Am I Required To Do So For A Suspended Vehicle?

The Heavy Vehicle Use Tax (HVUT) Form can be filed only for a functional heavy truck located within the United States alongside comprehensive details about your business and operations. It is relevant to vehicles that exceed 55,000 pounds in gross weight. What if your vehicle is put under the classification of “suspended” for the year? Do you still have to file out Form 2290? In this guide we go over the pertinent regulations surrounding suspended vehicles and the guidelines put forth by the IRS to aid you in staying compliant.

What Is A Suspended Vehicle Under 2290?

A suspended vehicle is one that operates for less than 5000 miles within the period of a year (7500 miles for agrarian vehicles). The period is set from July 1st on the current year to June 30th on the next. Because the IRS measures the Heavy Vehicle Use Tax assumption on the belief that heavy vehicles breakdown highways, low mileage vehicles might qualify for tax suspension. This does not, however, absolve you of your responsibility to file out the form 2290. It is fundamental that you file the form and report the vehicle as suspended so the vehicle remains in compliance with IRS regulation measures.

Why You Still Need To File Form 2290 Form 2290 must still be complied with, as well as suspended even if the vehicle in question has their HVUT marks for low mileage.

This step is crucial because it acts as proof that your vehicle has not been used a lot. It is important to file this because, without it, the IRS has no means of confirming your vehicle’s mileage and you may be assessed penalties and interest. Also, to get a Schedule 1, which is needed to register or renew your vehicle, you must first file Form 2290.

What If Your Vehicle Goes Over the Mileage Limit?

In the event that your suspended vehicle goes over the limit of 5,000 miles (or 7,500 miles for agricultural vehicles) within the tax year, you will have to amend Form 2290 and pay the HVUT for that tax cycle. This is for you to stay in compliance with IRS rules and avoid getting fines. To stay within compliance, it is vital to monitor your mileage over the course of the year so that there are no unexpected issues.

Filing Form 2290 for a Suspended Vehicle: Stay Compliant

Canceling compliance through Form 2290 can only be achieved by not filing, which is unwise if you want to avoid complications with vehicle registration. You can block unnecessary taxes by accurately reporting your vehicle’s status and mileage while also keeping your records clean.

The availability of e-filing for Form 2290 improves the accessibility of processing and offers instant retrieval of the Schedule 1 form. In either scenario, dormant or operational, filing Form 2290 in a timely fashion ensures that the truck business is carried out effectively.

Note: For more information, visit IRS website