Tag: Form 8849

Can I Transfer My Form 2290 To A New Truck?

Posted on June 21, 2023 by Marcela De Vivo - Transfer Form 2290

Hey, it’s Amber with ExpressTruckTax, and today I’m going to answer a common question that we get here. Can I transfer my Form 2290 tax from one truck to the next truck? The answer is sometimes. Um, most of the time, yes, you can, uh, if you file the 2290 on Truck A in July and you get a new truck in September, you can file the tax from Truck A to Truck B, um, and it just kind of moves over depending on how you sell and purchase the vehicles.

The only time that there’s a question is if you’ve gone over 5,000 miles, and there are, you know, there are a lot of different stipulations. But for the most part, you can transfer your tax from Truck A to Truck B. There are three different reasons.

Number one, you get a new truck, so you sold a truck, you got a new truck, you move that tax over. If you destroy Truck A, you get a new truck, you can move that tax over. Um, if Truck A is stolen and you’ve paid the tax on that truck, you can move it to Truck B. So there are three different key reasons of why you would transfer the tax to a new truck.

But make sure you check with your accountant, your tax advisor, just to make sure before you’re doing this transaction. But the IRS does say that you can transfer your tax from Truck A to Truck B if it’s sold, destroyed, or stolen.

And of course, you can do that on ExpressTruckTax. Um, and then there’s also the option where let’s say you sell your truck and it’s the middle of the tax year, and you’re not getting a new truck, you can claim a credit on that sold vehicle. So again, if it’s not gone over 5,000 miles and you paid for the full tax year, you can file an 8849 for a sold vehicle.

And, um, the IRS will mail you a refund check for that unused tax. The same with stolen or destroyed vehicles, you can claim credits on those. Or if you’re getting a new truck, you can transfer that over to the new vehicle.

If you have any further questions, feel free to reach out to our support team. We’re here Monday through Friday, 8:30 to 5:30. Call 704-234-6005. You can find us at support@ExpressTruckTax.com, or you can do live chat, which is right on our website.

So reach out if you do have further questions. And if you would like to see more helpful videos on specific topics, comment down below, and I’ll be happy to make them. Talk to you soon. Bye.

Everything you need to know about Form 8849

Posted on October 14, 2022 by Marcela De Vivo - 8849, Form 8849, Form 8849 online, IRS 8849, IRS Form 8849

Form 2290 needs to be filed by a driver of a vehicle that weighs 55,000 pounds or more for the Heavy Vehicle Use Tax. There are also some cases where a refund needs to be claimed for the payment of the Heavy Vehicle Use Tax. Typically a Form 8849 is filed if the Heavy Vehicle Use Tax is paid but the vehicle ends up not exceeding 5,000 miles (7,500 miles if the vehicle is used for agricultural purposes) during the tax year. A refund can also be requested if a vehicle is stolen, sold, or destroyed and the tax for the vehicle has already been paid for that tax year.

In order to file Form 8849 and claim a refund, proof of your vehicle being sold, stolen, or destroyed will be needed. Detailed proof needs to be provided to the IRS stating why exactly a refund for the tax paid on your vehicle. What can be provided is not limited to a bill of sale, insurance claim form, police report, or pictures.

ExpressTruckTax guarantees the best Form 8849 filing experience for drivers by making it fast and simple. You will select Form 8849 when filing and will be provided with clear instructions for filling out the form. Enter your name, your Employer Identification Number (EIN), and the total refund amount you are requesting. You will need to choose the ending month of your tax year to be December. Once you have the form filled out, click transmit and it will be transmitted to the IRS immediately.

If your Form 2290 was filed through ExpressTruckTax, you will be able to auto-generate Form 8849. This feature will automatically create a Form 8849 for you with all of the information entered from your Form 2290 already on it. This is convenient because you do not have to re-enter any information on it. Using the information provided, the refund amount will be automatically calculated for you.

After submission, the IRS should notify you within 4-8 weeks whether or not your Form 8849 was approved. It has been known to take longer than that in recent months because they are processed manually. When the IRS does notify you, you will either receive a letter asking you to provide more information and will give you instructions for where to send that information or it will contain an approval along with a check for the refund balance that is owed to you.

Filing Form 8849 is simple and only takes a few minutes, especially if you filed your Form 2290 with ExpressTruckTax. Your information will already be on the automatically generated Form 8849. Once all of the information is in on the form, transfer the form to the IRS and wait for it to be processed and accepted. It is as easy as that. What are you waiting for? File Form 8849 with ExpressTruckTax and claim your refund on your Form 2290 through Form 8849 today!

Form 2290 Essentials for Buying or Selling a Truck

Posted on September 23, 2022 by Marcela De Vivo - Buying Trucks, Claim your Tax credit, Credit Form 8849, selling

Form 2290 must be filed by drivers of vehicles weighing 55,000 pounds or more for the Heavy Vehicle Use Tax. Typically if you are the owner of that vehicle you will be the one that files for it. What happens when a truck of this weight is bought or sold in terms of filing Form 2290?

When buying a vehicle of a qualifying weight the ownership of that vehicle is transferred to you. Now you have to pay the Heavy Vehicle Use Tax for that vehicle and File Form 2290. How much tax you owe depends on the weight of the vehicle you purchase, when you plan to put it on the road, and how much you plan to drive it.

Form 2290 is due on August 31st because the tax year for the Heavy Vehicle Use Tax goes from July 1st to June 30th of the following year. The month that you put your vehicle on the road for the first time is the first used month. If you put the vehicle on the road in the middle of the tax year, you will owe the tax amount for the months remaining in that year.

If you sell a vehicle of a qualifying weight, the process is a little different, especially if you have already paid the Heavy Vehicle Use Tax for this vehicle for the year. If you plan to purchase a new vehicle or already have another vehicle, the next time you file you are able to claim a sold vehicle credit on that vehicle. This will reduce the amount of taxes you owe on this vehicle.

If you do not plan to purchase another vehicle or don’t have another one, you are able to file a Form 8849 which is designed to request a refund for the tax amount for the months that you no longer owned the vehicle. You are also able to file one if you still have or are planning to buy another vehicle, though Form 8849 is processed manually so it can take up to a year to be processed.

If you are buying or selling a vehicle, ExpressTruckTax makes filing Form 2290 easy. You can file Form 2290 and specify the First Used Month after you purchase a new vehicle now that you have ownership of it. ExpressTruckTax also makes claiming credits on sold vehicles a breeze. Simply file for your new or current vehicle and then specify that you are claiming a credit on the sold one. You will put in the details of the sale, who you sold the vehicle to, their information, and the date of the sale. ExpressTruckTax also makes filing Form 8849 easy too though you have to specify all of the information regarding the sale including who you sold the vehicle to, their information, the date of sale, and provide the bill of sale.

To make your filing experience fast and easy, choose ExpressTruckTax! The entire process only takes a few minutes and can be completed from any device to make it as convenient as possible. What are you waiting for? File with ExpressTruckTax today!

Everything You Need To Know About Claiming Credits On Form 2290

Posted on July 22, 2022 by Marcela De Vivo - 2290 credit, Claim your Tax credit, Credit Form 8849, credit vehicle, Credit vehicles, form 2290 credit vehicle

Do you drive a vehicle weighing 55,000 pounds or more? If you answered yes, you need to file Form 2290 for the Heavy Vehicle Use Tax. If you drive this vehicle less than 5,000 miles a year, or less than 7,500 miles a year if it is used for agricultural purposes, then you must still file Form 2290 but no tax will be owed for this vehicle. In this case, the IRS considers the vehicle suspended because it did not exceed the mileage limit.

IRS 2290 Form is filed a year in advance, so what happens if you file a vehicle as not suspended, paid the tax but don’t exceed the mileage limit after all? You can claim a credit for this vehicle next time you file Form 2290.

Claiming credits on form 2290

When filing Form 2290 you need to first file for a truck that you are not claiming credits for, whether it is suspended or not. After entering this vehicle’s information, there will be a section where you are able to claim credits for vehicles. The information needed when reporting these vehicles includes the vehicle’s VIN (Vehicle Identification Number), the vehicle’s make, model, and a detailed description of why you are claiming the credit for this vehicle.

Other situations where credits need to be filed

Not exceeding the mileage limit is not the only reason that you might need to claim a credit when filing Form 2290. When you sell a vehicle after already having filed Form 2290 and paid the HVUT for it, you will need to claim a credit for it. When entering the information about this credit vehicle in Form 2290 you will enter the vehicle’s information but also details about the sale including the date it was sold and the buyer’s information. This way the IRS knows when you are no longer in possession of the vehicle and how much tax credit needs to be returned.

Another instance where you would need to claim a vehicle credit on Form 2290 is if a vehicle was stolen or destroyed. For these situations, you need to be very detailed in your description of the event and specify when it was stolen or destroyed so that the IRS knows how much tax credit needs to be returned.

Other options for claiming credits

When you need to claim credits for a vehicle, filing it on your Form 2290 is not your only option. Instead of claiming the credits on Form 2290, you can file Form 8849 Schedule 6. This form is designed only to claim credits on vehicles that meet the requirements. When filing this form, all you need to do is enter the information about the credit vehicle including a detailed description of why you are filing this form for this vehicle. It is recommended that Form 8849 is filed when you no longer have a truck to file Form 2290 to add the credits onto. This is because Form 8849 takes longer to process because the forms are processed manually. In some cases, it can take up to a year or more to get your credit back. If you do still have a truck to file Form 2290, wait until the next time you file and add these credit vehicles to your form instead of having to wait and the credits will be processed at the same time as your Form 2290.

ExpressTruckTax is here to help you claim credits

ExpressTruckTax makes claiming credits when filing Form 2290 easy. When trying to claim credits it is important to keep in mind that clients have three years from the date the return was filed or two years from the date the tax was paid, whichever is later, to file a claim a credit. As long as the credit you need to claim fits into this time frame, ExpressTruckTax can help you claim your credits on your 2290 IRS Form or help you File Form 8849 if needed. No matter how you need to file or report your vehicle credits, ExpressTruckTax offers you the best and most convenient solution. What are you waiting for? File with ExpressTruckTax today and start reporting your vehicle credits today!

Todo Lo Que Necesita Saber Sobre La Reclamación De Créditos En El Formulario 2290

Posted on July 22, 2022 by Marcela De Vivo - 2290 credit, Credits For Sold, expresstrucktax, Spanish, Spanish Form 2290

¿Conduce un vehículo que pesa 55,000 libras o más? Si respondió que sí, debe presentar el Formulario 2290 del Impuesto sobre el Uso de Vehículos Pesados. Si maneja este vehículo menos de 5,000 millas al año, o menos de 7,500 millas al año si se usa para fines agrícolas, aún debe presentar el Formulario 2290, pero no se adeudarán impuestos por este vehículo. En este caso, el IRS considera que el vehículo está suspendido porque no excedió el límite de millaje.

El Formulario 2290 se hace con un año de anticipación, entonces ¿Qué sucede si presenta un vehículo como no suspendido, pagó el impuesto pero no excede el límite de kilometraje después de todo? Puede reclamar un crédito por este vehículo la próxima vez que presente el Formulario 2290.

Reclamación de créditos en el Formulario 2290

Al presentar el Formulario 2290, primero debe solicitar un camión por el que no está reclamando créditos, ya sea que esté suspendido o no. Después de ingresar la información de este vehículo, habrá una sección donde podrá reclamar créditos para vehículos. La información necesaria para reportar estos vehículos incluye el VIN (Número de identificación del vehículo), la marca y el modelo del vehículo y una descripción detallada de por qué está reclamando el crédito por este vehículo.

Otras situaciones en las que es necesario presentar créditos

No exceder el límite de millaje no es la única razón por la que podría necesitar reclamar un crédito al hacer el Formulario 2290. Cuando vende un vehículo después de haber hecho el Formulario 2290 y pagado el HVUT, deberá reclamar un crédito por él. Al ingresar la información sobre este vehículo de crédito en el Formulario 2290, ingresará la información del vehículo pero también detalles sobre la venta, incluida la fecha en que se vendió y la información del comprador. De esta manera, el IRS sabe cuándo ya no estaba en posesión del vehículo y cuánto crédito fiscal debe devolverse.

Otro caso en el que necesitaría reclamar un crédito de vehículo en el Formulario 2290 es si un vehículo fue robado o destruido. Para estas situaciones, debe de hacer una descripción muy detallada del evento y especificar cuándo fue robado o destruido para que el IRS sepa cuánto crédito fiscal debe devolverse.

Otras opciones para reclamar créditos

Cuando necesite reclamar créditos por un vehículo, declararlo en su Formulario 2290 no es su única opción. En lugar de reclamar los créditos en el Formulario 2290, puede presentar el Formulario 8849 Anexo 6. Este formulario está diseñado sólo para reclamar créditos en vehículos que cumplen con los requisitos. Al presentar este formulario, todo lo que necesita hacer es ingresar la información sobre el vehículo de crédito, incluyendo una descripción detallada de por qué está presentando este formulario para este vehículo. Se recomienda presentar el Formulario 8849 cuando ya no tenga un camión para presentar el Formulario 2290 para agregar los créditos. Esto se debe a que el formulario 8849 tarda más en procesarse porque los formularios se procesan manualmente. En algunos casos, puede tomar hasta un año o más recuperar su crédito. Si todavía tiene un camión para presentar el Formulario 2290, espere hasta la próxima vez que le toque declarar y agregue estos vehículos de crédito a su formulario en lugar de tener que esperar y los créditos se procesarán al mismo tiempo que su Formulario 2290.

ExpressTruckTax está aquí para ayudarlo a reclamar créditos

ExpressTruckTax facilita la reclamación de créditos al presentar el Formulario 2290. Al tratar de reclamar créditos, es importante tener en cuenta que los clientes tienen tres años a partir de la fecha en que se hizo la declaración ó dos años a partir de la fecha en que se pagó el impuesto, el primero que sea más tarde, para hacer una reclamación de crédito. Siempre que el crédito que necesita reclamar se ajuste a este período de tiempo, ExpressTruckTax puede ayudarlo a reclamar sus créditos en su Formulario 2290 o ayudarlo a presentar el Formulario 8849 si es necesario. No importa cómo necesite presentar o informar los créditos de su vehículo, ExpressTruckTax le ofrece la mejor y más conveniente solución. ¿Qué estás esperando? ¡Comience a reportar los créditos de su vehículo con ExpressTruckTax hoy!

How to Claim a Tax Refund for Stolen or Destroyed Vehicles with Form 8849

Posted on February 17, 2021 by Marcela De Vivo - Claim Form 8849

No matter how carefully you drive, accidents can still happen. If your truck was recently stolen or destroyed, we want to extend our condolences to you. We understand just how big of a role your truck plays in your business and life.

If you drive under your own authority, your truck is your whole livelihood. Fortunately, in most circumstances, with insurance, stolen or destroyed vehicles are covered. Plus, you can likely recover some amount of HVUT payment for the year with IRS Form 8849.

What is Form 8849?

The IRS Form 8849 is used to claim a refund for excise taxes. Your Form 2290 HVUT payments are considered excise taxes. There are 2 scenarios in which you can claim a Form 2290 refund.

You paid the full HVUT amount but drove fewer than 5,000 miles (7,500 for agricultural vehicles)
Your vehicle was stolen or destroyed.

The first scenario doesn’t happen too often in our experience. However, if your vehicle was stolen or destroyed recently, you should definitely file Form 8849 to get a Form 2290 refund for whatever you had left on the year.

How to File Form 8849

Before filing your Form 8849, make sure you have proof of your vehicle being stolen or destroyed. This would typically be something like a police report, insurance claim form, or even pictures.

The simplest way to file Form 8849 is to e-file with ExpressTruckTax. With this method, clear Form 8849 instructions will be presented to you as you fill out the return. Plus, your return will be transmitted immediately to the IRS.

If you filed your original Form 2290 with ExpressTruckTax, your information will already be in our system when you go to file your IRS 8849. You simply need to use that vehicle’s details on the new return.

After submission, the IRS will notify you within 4-12 weeks by mail if your 2290 refund was approved. There are two possible letters you could receive. The first possible letter will ask you for more information and have instructions for where to send that information. The other letter will contain approval and a check with the balance 2290 refund owed back to you.

File Form 8849 today

The whole Form 8849 process will take about 5 minutes to complete with ExpressTruckTax, and you can file from anywhere you find yourself.

As always, our 100% US-based customer service team will be here to support you every step of the way.

How To Get Low Mileage Credits For Your HVUT

Posted on June 1, 2020 by Marcela De Vivo - Prior Year Low Mileage / Suspended Vehicles

The 2020 Form 2290 HVUT tax must be paid on all commercial vehicles weighing 55,000 pounds or more that travel 5,000 miles or more (7,500 for agricultural vehicles).

But what happens if you paid your $550 HVUT tax last year and then didn’t drive more than 5,000 miles?

In that case, you will be eligible for a low mileage credit on your HVUT payment! It’s simple to claim a low mileage credit and apply it to this year’s HVUT payment! That way, you won’t owe a dime for the 2020 HVUT!

Keeping reading for more information and instructions for claiming your HVUT low mileage credit!

What is a low mileage credit?

If you own and operate a commercial vehicle, you must file a Form 2290 with the IRS every year. However, if you drive less than 5,000 miles (7,500 miles for agricultural vehicles), you do not have to pay the Heavy Vehicle Use Tax (HVUT).

So, if you do not plan to drive more than 5,000 miles in a given year, you can report that truck as a “Suspended Vehicle”. You will not have to pay the HVUT for that year unless you end up driving more than 5,000 miles.

But what happens if you paid the HVUT but did not drive more than 5,000 miles? In that case, you can claim a low mileage tax credit. If accepted, your tax payment from last year will roll over to this year, so you won’t owe a dime in 2020!

How do I file for a Form 2290 low mileage credit?

Log in to your ExpressTruckTax account.
Click on the Form 8849 Schedule 6.
Choose the ending month of your tax year.
Skip the Sold/Destroyed vehicle section.
Click Add Credit Vehicle in the Low Mileage Credit section and enter all information. You will see your credit come up.
Review your information and pay the ExpressTruckTax filing fee and you’re done!

File your Form 8849 Schedule 6 with ExpressTruckTax today!

We take care of all the hard work! There are no calculations required. Just enter your information and file!

How To Make Amendments To Your Form 2290

Posted on March 4, 2020 by Marcela De Vivo - 2290 form Schedule 1, 2290 Free VIN Correction, 2290 highway use tax

Make a mistake on your Form 2290? Need to update something? That’s OK! It happens to the best of us!

If you need to make a Form 2290 correction, you have several options available to you, depending on what you need to change.

If you need to change only 1 digit of your VIN number, report a higher weight amount, or more mileage than you anticipated, you can file a 2290 Amendment.

Form 2290 Amendments are free when you file with ExpressTruckTax!

If, however, your changes are more substantial (your name, address, EIN, or basically anything else is incorrect) and your Form 2290 was already accepted by the IRS you will need to file a Form 8849 to void your previous Form 2290.

Then, you will need to file a new Form 2290 with the correct information.

Follow these simple steps to make changes to your Form 2290 with ExpressTruckTax.

Filing a Form 2290 Amendment

Log in to your ExpressTruckTax account.
On your Dashboard, select “Start New Return”.
Click “Form 2290 Amendments” and then “Start Form 2290 Amendment”.
Select which type of amendment you need to make (VIN, Taxable Gross Weight Increase, or Mileage Exceeded).
Continue following the prompts, pay the filing fee (if you filed your 2290 with another provider), and then transmit to the IRS.

Updating your business information and filing a new Form 2290

On your Dashboard, select “+Add” on the far right side of your screen under Businesses to add the corrected business information.
Complete this form with the correct EIN and business information that you need to file your 2290 under. When you are finished, click “Continue” at the bottom of the page.
Check that you are now filing under the correct business. It will be highlighted on the right side of your screen and your newly corrected business details will be displayed across the top.
Select “Start New Return”. Then select whether you need to file for 1 vehicle or multiple vehicles.
Follow the prompts to complete your corrected 2290 and then transmit to the IRS.
Once you receive the Schedule 1 in your email with the watermark, save the file as a picture (.JPEG or .PNG).

Filing a Form 8849 with ExpressTruckTax

On your Dashboard, go to the right side of your screen and select the business that you originally filed under with the incorrect information.
Select “Start New Return”.
Then select “Form 8849 Schedule 6” and then “Start Form 8849”.
Select December as the ending month of your tax year. Then click “Next”.
Continue to click “Next” and skip to the “Tax Overpayment” section.
Select “Add Vehicle” to enter your claim information and then select “Choose File” to attach the Stamped Schedule 1 that you just received and saved as a .JPEG or .PNG.
Be sure to include a detailed explanation of the reason why you are filing the 8849 (incorrect name, address, EIN, etc.) and then select “Save”.
Continue following the prompts, pay the filing fee, and then transmit to the IRS.
The IRS will contact you by mail within 6 to 8 weeks with regard to your 8849 filing.

Start filing your Form 2290 today!

With ExpressTruckTax, the e-filing process is fast and easy. You’ll get your stamped Schedule 1 back in minutes and you can file a Form 2290 Amendment for free!