Serving Lincoln County for more than a century!
Serving Lincoln County for more than a century!
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The Internal Revenue Service has released Form 2290, the “Heavy Highway Vehicle Use Tax Return.” This form is used to figure and pay the use tax due on trucks with a gross vehicle weight of 55,000 pounds or more. No tax is owed, however, in two instances: if the vehicle is expected to be driven 5,000 miles or less per year, or if the vehicle is used in agriculture and is expected to be driven 7,500 miles or less per year. Even if one of these exceptions is met, Form 2290 must still be filed with the IRS. The reporting per...
