Have you paid truck tax by filing Form 2290 for the heavy vehicle? Does your vehicle suddenly fall under the suspension vehicle category? If so, then you can claim a refund for the previously paid truck tax for the same vehicle by filing Form 8849.
Doesn’t know about Form 8849? Don’t get tensed! We will let you know how to claim Form 2290 refund with Form 8849. We provide you information about the circumstances which lead to claim 2290 refund. Additionally, we made it easy for the trucker by providing guidelines to file Form 8849 without any errors.
Circumstances to claim Form 2290 refund
Following are the circumstances to claim Form 2290 refund for heavy vehicles:
Mistakenly overpaid tax dues
When the truck owner overpaid tax due to mistakes that occurred in calculating HVUT, then the truck owner is liable to claim a Form 2290 refund. The refund is claimed for the previously filed Form 2290 on the next Form or through filing Form 8849.
Heavy vehicle sold/stolen/damaged
If the trucker sells the heavy vehicle after paying truck tax by filing Form 2290, then the trucker can request a credit claim for the sold vehicle on Form 8849.
Vehicle Kept Empty in a Tax Period
If I suppose, the heavy vehicle whose HVUT was paid on Form 2290 was kept empty in a tax period, then the truck owner can claim a refund. Provide the reason for the claim along with the 2290 refund form.
Change inVehicle category
When the taxable vehicle suddenly falls under the suspended vehicle category, then the owner of the vehicle can claim the credit by filing the Form.
What is Form 8849?
IRS Form 8849 used to claim a refund of excise taxes by making use of the appropriate Schedules. If the trucker overpaid or deposited to the IRS as tax liabilities while filing an excise tax return, then the trucker is liable to get a refund. The refund can be claimed when the IRS approves it. With the help of Form 8849, the truck owners can easily claim the additionally paid dollars back. Generally, the IRS pays back the additional tax amount through a check by sending it to the mail address provided on the Form. Make sure to choose the right Schedule when filing claims for the excise tax refund.
What are the requirements to claim a 2290 refund?
Below are the details that are required to file IRS Form 8849 to claim a 2290 refund:
Name and address of the claimant
This includes the name and address of the person who is requesting a refund claim for previously paid HVUT o heavy vehicles. Ensure to include the same details which you have entered on Form 2290.
Employer Identification Number
EIN is most essential for every business owner to identify the type of business. Additionally, it plays an important role in claiming credit using Form 8849. The trucker needs to include the EIN for which the heavy vehicle was registered on Form 2290.
Vehicle Identification Number
VIN considered as a fingerprint of a vehicle. It used to identify the vehicle when it is stolen. The truck owner needs to provide the VIN of the heavy vehicle to request a claim refund on the form.
Reason for the claim
Along with the above information, the truck owner must include the reason for the claim by explanation along with Form 8849.
How to file Form 8849 manually?
The trucker can file Form 8849 either manually or electronically. Manual filing requires the trucker to collect the Forms from the nearest IRS office. It requires the truck owner to provide details like the name of the claimant, EIN, address, month in which the claimant’s tax year ends. Then mark the “Schedule 6” box and provide the signature on the Form. On the other claims section, fill in the required details. This includes, name as shown on Form 8849, EIN, total refund amount, details about the tax amount. Based upon the nature of the claim, provide the necessary details with an explanation for the refund request. Review the form carefully and mail the form to the IRS address.
Filing Form 8849 online
Compared to the manual filing, filing Form 8849 for refund claims online is a safe and secure process. Firstly, the trucker needs to choose an IRS-authorized e-file provider to request a credit claim on heavy vehicles using Form 8849. After choosing an IRS-certified e-file provider, signup by providing the necessary details to create an e-file account. Already existing users can log in to the e-file account by providing an email address and password.
Then the trucker needs to choose “Form 8849” to file electronically. Select the business information which you want to file the form, or else add the business information and fill in the details. Start filing Form 2290 by choosing the month in which the tax year ends for the heavy vehicle to which you are requesting a claim. Select the reason why you are filing Form 8849 and review the information provided on the Form. Pay the processing fee to submit Form 8849 to the IRS. Once the IRS accepts the claim request, then you will get noticed via your registered email address.
When to make IRS Form 2290 refund claim?
Following are the information about requesting IRS Form 2290 refund claim:
For vehicles sold/stolen/damaged
Claim a refund by filing Form 8849 before June 1 for the vehicles which are sold, stolen, destroyed for whose HVUT was paid previously. Or else claim a refund on the next form 2290 filed for the vehicle under this category.
For low mileage vehicles
A refund can be claimed for the low mileage vehicles on the first form 2290 filed for the next period. This means the truck owner must file a refund claim request after the end of the tax period. For instance, if the tax was paid for the period July 1st, 2020 to June 30, 2021, then a credit on Form 2290 can be claimed after June 30th, 2021.
Have you got the required information about Form 8849? Are you ready to file 2290 refund Form? Form 2290 filing allows the truckers step-by-step guidance to complete the Form quickly with accurate information. It minimizes errors by conducting instant audit checks. Feel free and comfortable to file tax returns with us!