A:
The law provides penalties for failing to file returns or pay taxes when due. There
are also penalties for filing false or fraudulent returns. These penalties are in
addition to the interest charge on late payments. The penalty for filing a return
late or paying the tax late will not be imposed if you can show reasonable cause
for not filing (or paying) on time. If you file after the due date (including extensions),
attach an explanation to the return to show reasonable cause.
The penalty for failing to file
IRS Form 2290 by August 31 is equal to 4.5 percent of the
total tax due, assessed on a monthly basis up to five months. Late filers not making
an
HVUT payment also face an additional monthly penalty equal to 0.5 percent of total tax
due. Additional interest charges of 0.54 percent per month accrue as well.
You can
E-File your Form 2290 quickly and easily at ExpressTruckTax.com and receive your Schedule 1 within minutes. Your Schedule 1 serves
as proof of payment for your HVUT. For more information or to get started today, visit
ExpressTruckTax.com or
contact our Express Tax Support Center in Rock Hill, SC at
704-234-6005 or email us at
support@ExpressTruckTax.com. We have Spanish Support too!
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