How To Handle Overpaid Highway Heavy Vehicle Use Tax Form 2290?

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Handle Overpaid-Highway
Heavy Vehicle Use Tax
Form 2290

How To Handle Overpaid Form
2290 Taxes?
There are sometimes situations resulting in an “overpayment” of Heavy
Vehicle Use Taxes, in which a credit is due. This can occur if your vehicle
is stolen, destroyed or if the vehicle did not exceed 5,000 miles (7,500
miles for agricultural vehicles) during the tax period. Here we explain
the process for claiming IRS Form 2290, Highway Heavy Vehicle Use Tax
credit for the following scenarios:
 You can take credit for the vehicle if it was stolen, destroyed or sold
before June 1 and not used during the remainder of the period, or
 Used during the prior period 5,000 miles or less (7,500 miles or
less for agricultural vehicles).
A credit, lower tax, exemption, or refund does not allow for an occasional
light or decreased load or a discontinued or changed use of the vehicle.
What that means is if you filed your IRS Form 2290 at 80,000 lbs, but
had occasions where you operated at a lower weight class, that will not
qualify you for a credit.
If you used your vehicle for only a portion of the tax year, you will qualify
for the credit If you did not exceed 5,000 miles (7,500 miles for
agricultural vehicles). If you did travel more than 5,000 miles (7,500
miles for agricultural vehicles) then you will NOT qualify for the credit.

The credit for vehicles that
were stolen, destroyed or sold
during the tax year will be
prorated based on the dates of
the occurrence. For vehicles
sold, destroyed or stolen, you
must include the VIN, taxable
gross weight, and date of sale,
accident or theft.
The credit for the tax paid can be claimed on the next Form 2290 filed or
the refund can be claimed on Form 8849. You do not have to wait until
the tax period ends.
The credit for low mileage vehicles you either qualify for it and you will
get the full amount that you paid as a credit or you will not qualify and
you will not get any portion of the credit.
This credit is never prorated.
For vehicles that tax was paid
and the vehicles were used
5,000 miles or less (7,500
miles or less for agricultural
vehicles), the credit (or
refund) can’t be claimed until
the end of the tax period for
which the initial tax was paid.

Even if you know at some point during the tax year that you will not
exceed the 5,000 mile mark, you will not be able to claim the credit until
the tax period ends, which is on June 30th.
The credit claimed cannot exceed the tax reported on IRS Form 2290. If
this occurs, any excess credit must be claimed using Form 8849, Claim
for Refund of Excise Taxes, and Schedule 6, Other Claims.
Form 8849 facts
Form 8849 is used to claim a refund of excise taxes. Here are some quick
facts, brought to by the IRS.
 You can e-file Form 8849 with most IRS authorized e-file providers.
 Use Schedules 1, 2, 3, 5, and 8 to claim certain fuel related refunds
such as nontaxable uses (or sales) of fuels.
 You are not required to claim a refund; however, if you do so you
must provide all the information requested on Form 8849 in order
for your refund to be processed properly.
 If a claim was not made for any gallons during the income tax year
on form 8849, an annual claim may be made. Generally, an annual
claim is made on Form 4136.

HELP VIDEO: E-File IRS Form 8849
When you use IRS Authorized E-File provider, ExpressTruckTax to E-
File HVUT Form 2290, if your credit exceeds the tax due, our program
will automatically generate the Form 8849 for you. Among taxpayers and
tax professionals. The IRS itself recommends E-Filing as their preferred
method for filing Form 2290.
For more information or to get started today, visit
http://www.ExpressTruckTax.com or contact our Express Tax Support
Center in Rock Hill, SC at 704-234-6005 or
E-mail us at support@ExpressTruckTax.com. We have Spanish Support
too!
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How To Handle Overpaid Highway Heavy Vehicle Use Tax Form 2290?

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How To Handle Overpaid Highway Heavy Vehicle Use Tax Form 2290?