Truckers, as you all know that the HVUT Form 2290 is now due for a renewal for the Period beginning July 1st, 2019 through June 30th, 2020 and the deadline is extended up until September 3rd, 2019 since the last day of August falls on a weekend. Hence, please avoid any further procrastination until the deadline and renew the Form 2290 at your earliest convenience.
The Form 2290 is basically due by the month of June every year and its payable until the end of August, this tax form is filed and paid to the Internal Revenue service for vehicles with a minimum taxable gross weight of 55000 lbs or more and if the same vehicle is been used over the public highways for commercial, Agricultural & Logging purposes.
However, in case of a newly acquired unit the Form 2290 is due by the last day of the month following the month of its first use. For example if john had purchased a truck in July 2019 he has time until August 31st, 2019 before he can report his vehicle on a Form 2290 on a Pro-rated basis.
You are required to pay the tax due amount full in advance for the period the vehicle is ought to be reported. But on the other hand if your vehicle does not seem to exceed the desired mileage limit for exemption such as 5000 miles for Commercial & Logging based units & 7500 miles for Agricultural based vehicles.
On the other hand, if your vehicle seems not to exceed the desired mileage limit for exemption, then your vehicle is declared to be exempt and taxes needs not be paid to the IRS. However, the tax return is required to be filed on this vehicle to legally claim an exemption from the IRS.