The Internal Revenue Service has sent truck owners a revised Form 2290, used to report payments due for the Heavy Vehicle Use Tax (HVUT). As the form's cover explains, last year's tax law eliminated the option to pay the HVUT in installments and also ended the reduced rate applicable to Canadian and Mexican vehicles. Thus, the full payment for July 2005 through June 2006, $550 for vehicles with a registered weight of 75,000 lb. or more, is due on August 31.
There is good news for owners who sell a vehicle after paying the tax: They can apply for a refund for any months for which they do not own the vehicle. Formerly, refunds were available only for wrecked or scrapped trucks.