REG-116699-07: Highway Use Tax; Sold Vehicles and Electronic Filing

REG-116699-07 contains proposed regulations that provide guidance on mandatory electronic filing of Form 2290, "Heavy Highway Vehicle Use Tax Return," for 25 or more vehicles; credits or refunds for sold, destroyed or stolen vehicles; and paying tax on the use of certain second-hand vehicles.  The regulations reflect changes to the law made by the American Jobs Creation Act of 2004.  The regulations would affect owners and operators of highway motor vehicles with a taxable gross weight of 55,000 pounds or more.