Is there a penalty for filing my Form 2290 late?
2.2k views | Last modified 6/7/2023 9:12:06 AM EST | Added by ExpressTruckTax Team

The law imposes a penalty for the failure of filing Form 2290 or paying the taxes by the deadline. There are also penalties for filing false or fraudulent returns. An additional interest charge has to be paid along with the penalty. The penalty for filing a return late or paying the tax late will not be imposed if you can show reasonable cause for not filing (or paying) on time.

The penalties and interest involved in not filing Form 2290 or underpayment of taxes are as follows:

1. A penalty of 4.5% of the total tax due, assessed monthly for up to five months, for not filing Form 2290 within the given deadline.

2. A monthly penalty of 0.5% of the total tax due for underpayment of HVUT.

3. Additional interest charges of 0.54% per month accrue.

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