Today is the deadline for filing Form 2290 and paying an excise tax of up to $550 per vehicle for trucks, tractors, logging vehicles, and others weighing at least 55,000 pounds. E-filing is required if you have at least 25 vehicles. The tax is suspended for vehicles expected to be used 5,000 miles or less (7,500 miles or less for agricultural vehicles), but the return must be filed with a statement attached. Find more details in the instructions to the form.
Barbara Weltman
Big Ideas for Small Business, Inc.
Subscribe and download our eBook, "150+ Tax Deductions for Small Business A to Z."
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