OUR THOUGHTS ON:

IRS Announces Highway Use Tax Return Extension until November 30

Transportation & Logistics

By Benjamin O'Leary

On July 15, 2011, the Internal Revenue Service informed truckers and other owners of heavy highway vehicles that they will receive an automatic three-month extension to file their next highway use tax return. The return that is usually due August 31 will instead be due on November 30, 2011.

Since the highway use tax is currently scheduled to expire on September 30, 2011, the extension will eliminate the potential administrative burden of multiple filings as a result of Congress reinstating or altering the tax. Returns should not be filed and payments should not be made prior to November 1, 2011.

In addition, truckers applying for state vehicle registrations on or before November 30 will be able to submit as proof of payment the stamped Schedule 1 of Form 2290 issued by the IRS for tax year ended June 30, 2011.

Newly acquired or registered highway motor vehicles from July through November are able to present a copy of the bill of sale or similar document to verify that the vehicle has been purchased within the past 150 days.

If you have any questions, please contact your trusted Schneider Downs Tax Advisor.

(IR-2011-77; T.D. 9537; NPRM REG-122813-11)

© 2011 Schneider Downs. All rights-reserved. All content on this site is property of Schneider Downs unless otherwise noted and should not be used without written permission.

This advice is not intended or written to be used for, and it cannot be used for, the purpose of avoiding any federal tax penalties that may be imposed, or for promoting, marketing or recommending to another person any tax-related matter.

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