The Internal Revenue Service advised truckers and other owners of
\nheavy highway vehicles that their next federal highway use tax return, usually
\ndue Aug. 31, will instead be due on Nov. 30, 2011.<\/p>\n
Because the highway use tax is currently scheduled to expire on Sept. 30,
\n2011, this extension is designed to alleviate any confusion and possible
\nmultiple filings that could result if Congress reinstates or modifies the tax
\nafter that date. Under\u00a0 temporary and proposed regulations filed today in
\nthe Federal Register, the Nov. 30\u00a0 filing deadline for Form 2290, Heavy
\nHighway Vehicle Use Tax Return, for the tax period that begins on July 1, 2011,
\napplies to vehicles used during July, as well as those first used during August
\nor September. Returns should not be filed and payments should not be made prior
\nto Nov. 1.<\/p>\n
To aid truckers applying for state vehicle registration on or before Nov.
\n30, the new regulations require states to accept as proof of payment the
\nstamped Schedule 1 of the Form 2290 issued by the IRS for the prior tax year,
\nending on June 30, 2011.\u00a0 Under federal law, state governments are
\nrequired to receive proof of payment of the federal highway use tax as a
\ncondition of vehicle registration. Normally, after a taxpayer files the return
\nand pays the tax, the Schedule 1 is stamped by the IRS and returned to filers
\nfor this purpose.\u00a0 A state normally may accept a prior year’s stamped
\nSchedule 1 as a substitute proof of payment only through Sept. 30.<\/p>\n
For those acquiring and registering a new or used vehicle during the
\nJuly-to-November period, the new regulations require a state to register the
\nvehicle, without proof that the highway use tax was paid, if the person
\nregistering the vehicle presents a copy of the bill of sale or similar document
\nshowing that the owner purchased the vehicle within the previous 150 days.<\/p>\n
In general, the highway use tax applies to trucks, truck tractors and buses
\nwith a gross taxable weight of 55,000 pounds or more. Ordinarily, vans,
\npick-ups and panel trucks are not taxable because they fall below the
\n55,000-pound threshold.<\/p>\n
For trucks and other taxable vehicles in use during July, the Form 2290 and
\npayment are, under normal circumstances, due on Aug. 31. The tax of up to $550
\nper vehicle is based on weight, and a variety of special rules apply to
\nvehicles with minimal road use, logging or agricultural vehicles, vehicles
\ntransferred during the year and those first used on the road after July.<\/p>\n
Last year, the IRS received about 650,000 Forms 2290 and highway use tax
\npayments totaling $886 million.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Internal Revenue Service advised truckers and other owners of heavy highway vehicles that their next federal highway use tax return, usually due Aug. 31, will instead be due on Nov. 30, 2011. Because the highway use tax is currently … Continue reading