The IRS will charge you penalty if you:
Fail to file Form 2290
If you don’t file your tax return and pay the HVUT tax on or before the due date, the IRS will charge a penalty. You can apply for an extension of time to file by stating a reasonable cause for non-filing. If the IRS accepts your reason, you will be able to e-file Form 2290 and receive your stamped copy without having to pay a late payment fee
Fail to pay proper estimated tax
If you don’t pay the full tax due for the year with your quarterly estimated tax payments, or through withholding when required.
Check is dishonored
If your bank doesn't honor your check or other forms of HVUT payment that you opted for.