If you don’t file and pay your HVUT by the Form 2290 deadline, you might face penalties from the IRS. Failing to file will incur a penalty of 4.5% of your total tax liability, while neglecting to pay will result in a penalty of 0.5% of your total tax liability. In addition, the IRS charges interest on unpaid balances, compounded daily. To find out what your penalties are for missing the Form 2290 deadline, try our free penalty calculator!