IRS reminds truckers of change in use tax

0 Comments | Deseret News (Salt Lake City), Jul 6, 2005

The Internal Revenue Service is reminding truckers and other owners of heavy highway vehicles that the installment option for paying the federal highway use tax will no longer be available.

This change was included in the American Jobs Creation Act of 2004 and applies to filers of Form 2290, Heavy Highway Vehicle Use Tax Return. During 2003, the IRS received 4,370 Forms 2290 from Utah taxpayers.

Beginning with the Form 2290 for the tax year that began Friday and ends on June 30, 2006, the balance due shown on the form must be paid in full by the due date of the return.

In most cases, the deadline for filing the return and paying any tax due is Aug. 31, 2005. Payment can be made by check, money order or electronically through the Electronic Federal Tax Payment System (EFTPS).

In general, the highway use tax applies to trucks, truck tractors and buses with a gross taxable weight of 55,000 pounds or more. Ordinarily, vans, pick-ups and panel trucks are not taxable because they fall below the 55,000-pound threshold.