Truck Tax Question – What Do I Do If My Truck Registration Expires June 30?

June 29, 2012 by  Filed under: Taxes 

A very common question among truck drivers is, “What do I do if my truck registration expires June 30, but the new tax period doesn’t begin until July 1?” How do you get your tags renewed if you can’t get a stamped schedule 1 until the next day? This is more or less a trick question. The general rule with the Form 2290 is that the HVUT is due 30 days from the end of the month fist used. This in a sense means that you are able to use your existing stamped schedule 1 to have your registration renewed.

Where the confusion comes in is that fact that your truck tags can expire before the HVUT is do. With the two entities over lapping each other, it gives you the mindset that you cannot do one without the other. This is a false statement and can be fixed with a little understanding. So you will have a better understanding, your Form 2290 does not directly affect your truck tag renewal. Yes, you need your HVUT paid and proof of payment (stamped schedule 1) to have your tags renewed but if they expire you do not have to file a new Form 2290 to have them renewed.

Since the HVUT is an annual tax, once it is paid for the year, you are fine for that entire year. Proof of HVUT payment is needed for this July to June 2012-2013 tax year that your vehicle registration is issued. If you renew your registration the subsequent year, then proof of payment is needed once more for consecutive tax amount and therefore on. IRS needs filing before September; file early and make certain to share your proof with DMV to avoid warning and suspension letters.

When the HVUT is paid, the IRS returns a copy of the Schedule 1 to the customer. Having this proof of payment is needed to get state vehicle registration for any truck, truck trailer or a bus that weighs a minimum of 55,000 pounds. The IRS has told the states that they need to settle for the previous year’s Schedule 1 as proof of payment for any registration applied for before July 1, 2012. The tax year begins on July 1, 2012 and ends on June 30, 2013. The balance due shown on the IRS Form 2290 should be paid in full by the due date of the coming tax period. In most cases, the deadline for filing the come and paying any tax due is Aug. 31.

Seun is an associate of Etax2290 which is a leader in e-file industry, with approval from IRS and various other trusted organizations for filing IRS Form 2290 online with ease and hassle free. File form 2290 now and avoid possible penalties.

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