IRS issues HVUT form for 2006

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The Internal Revenue Service has issued a revised Form 2290, Heavy Highway Vehicle Use Tax Return, for 2006, for payment of the 2007 federal heavy vehicle use tax (HVUT). IRS also has issued revised instructions for the 2290.

Little is new in this year’s form: Like last year’s 2290, it incorporates recent changes to the tax law, effective July 1, 2005, that eliminated the option to pay the HVUT in quarterly installments, established a new tax credit for a vehicle sold during the tax year, and eliminated the special tax break for Canadian and Mexican-based vehicles. Although the new law also requires taxpayers that report 25 or more vehicles to file electronically, IRS advises that this program isn’t available yet.

Instructions for Form 2290 can be found here. A copy of the form is available here.