How do I calculate penalties and interest for late payment?
In the event you are filing your Form 2290 after the deadline, there will be penalties and interest accrued.
If your Heavy Vehicle Use Tax is not filed by August 31st, the IRS Will charge 4.5% of the total tax amount due.
If you file late, you will not only incur a penalty but you will pay interest on that penalty as well. The interest is .5% of the total amount due.