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Form 2290 Payment Methods

Last Updated on  December 2, 2020  By  eformblogadmin
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Form 2290 Payment Methods

Form 2290 is a form used to pay your Heavy Vehicle Use Tax. You must pay this tax if you are a trucker who operates heavy vehicles (having a gross weight of 55,000 pounds or more), uses your vehicle for 5000 miles and above (7500 miles and above for agricultural vehicles) and operates on public highways in the US. 

Filing Form 2290 can be quite a hassle if you're filing manually. But if you are e-filing it, the process becomes much more simpler and easy. You will also receive your Schedule 1 Form 2290 within a  minute of e-filing.

Wondering how to make the truck tax payment? Check out these super easy Form 2290 payment methods that are made available by the IRS.

  • Electronic Funds Withdrawal (EFW)

  • Electronic Federal Tax Payment System (EFTPS)

  • Check or money order

  • Debit/Credit card payment

Electronic Funds Withdrawal (EFW)

Electronic Funds Withdrawal (EFW) is an integrated online payment option accepted by the IRS. You can choose this mode of payment only when you are filing taxes through a tax professional, online tax filing services, or if you are filing taxes using a tax software. 

If you opted for EFW payment, you can choose direct debit from your bank account and also specify the date of debit. Ensure that you select a date of debit on or before the tax deadline. The IRS will require your Account Number, Routing Transit Number, Account Type (Savings or Current) and the debit amount to carry out an EFW payment. You can find these details on your check. The payment will reflect on your bank statement or you can directly call the IRS and verify your payment.

Electronic Federal Tax Payment System (EFTPS)

Electronic Federal Tax Payment System (IRS EFTPS) is a free service offered by the U.S. Department of Treasury. It benefits tax professionals, businesses, payroll services, individuals, and federal agencies. IRS EFTPS is another mode of payment widely accepted by the IRS.

You can make EFTPS payment by visiting their website or via phone by calling 1-800-555-4477. They are available to assist you 24 hours a day, 7 days a week. Make sure you make the payment latest by 8 PM Eastern Time the day before the due date to avoid penalties.

It usually takes 24-48 hours for the IRS to deduct the amount from your account. But if you make the payment on weekends or any federal holidays, you can expect a delay in funds withdrawal.

Note: Not having sufficient funds in your bank account can invite penalties or payment processing errors for EFW & EFTPS.

[ Read: HVUT 2290 Penalties ] 

Check or Money Order

Sending a check or money order takes a fairly longer processing time than other modes of payment. You can mail the check or money order to the IRS along with the payment voucher and 2290-V from your completed HVUT Form 2290.

Don’t send any cash and make your check payable to “United States Treasury”. Mention your name, address, EIN, “Form 2290” and the date on your payment mail. Avoid stapling your check or money order to the voucher or Form 2290.

Credit / Debit Card Payment

Yet another easy and simple mode of payment. You can pay your HVUT using your debit or credit card. Visit irs.gov and make your payment using your card. You will be charged 2% of the payment amount under transaction charges in this mode of payment.

The IRS integrates e-file and e-pay with debit/credit card is available through various tax professionals and tax software products. Some tax software may allow you to make partial payments.

How Do You Calculate Your Tax Amount?

The IRS assesses a tax amount depending on your gross vehicle weight operating on public highways. You can calculate your vehicle’s gross weight by adding:

  1. The actual unloaded weight of the vehicle fully equipped for service
  2. The actual unloaded weight of any semi-trailers or trailers equipped for service
  3. The weight of the maximum load customarily carries on vehicle and any trailers or semi-trailers used in combination with the vehicle

Bottom Line

If your gross taxable weight is 55,000 pounds then your HVUT amount is $100, and an additional 22$ per pound for every 1000 pounds above 55,000 pounds. For vehicles that have a gross taxable weight above 75,000$, the maximum HVUT is $550 annually. You can also use our tax calculator tool to find out your tax amount. File form 2290 and pay HVUT tax using an IRS approved service provider like eForm2290.com to avoid late payment charges and penalties and do read our IRS Form 2290 Instructions to avoid any kind of Form 2290 Filing Errors.