TruckDues.com is the most preferred electronic filing service provider for the Owner Operators and Small Medium size Trucking Companies to complete and pay the Federal Heavy Vehicle Use Tax (HVUT) Form 2290. We usually come across many questions at your help desk about how to claim the refunds on the credit vehicles that the IRS owe you back. Hope this article will be of useful information to understand and complete the refund claims electronically.
Truckers, in this post, we’ll go through how to get a refund on your vehicle if you discover that you haven’t driven it over the desired mileage cap for exemption. The mileage cap for exemption, according to the Internal Revenue Service, stands at 5000 miles for commercial vehicles and 7500 miles for farming and logging vehicles.
The Heavy Highway Vehicle Used Tax Return HVUT Form 2290 is an annual tax charged to the Internal Revenue Service on vehicles with gross weights of over 55000 lbs and that is used for the same purpose every year. Form 2290 is due in June and is payable through the end of August.
Since Form 2290 must be filed upfront for the next 12 months, one must be certain of the miles the truck will be used. If the truck will be used within the exemption mileage, you will not have to pay any taxes to the IRS. We must only pay the IRS the tax due sum if we surpass the desired mileage cap of exemption. But what if you declare your truck as a taxable vehicle by mistake and pay the tax due, only to discover later that you have not driven up to the mileage limit? This is when you use the IRS’s low-mileage credit option, in which you use the IRS’s e-file Form 8849 schedule-6 to request a mileage refund and register the vehicle under low-mileage credits. This, though, can only be done after the existing tax year has finished and the new tax year has started.Continue reading
Dear HVUT filers, As we have learned to live along with the pandemic Virus on the loose we also have good news around different parts of the world regarding a vaccine for a cure. Hope it brings a breakthrough and saves lives. Till then be safe and sanitized. As you know the HVUT Form 2290 is now due for a for the vehicles bought or used since December 2020 Period beginning July 1, 2020 through June 30, 2021, thousands of truckers have e-filed their HVUT Form 2290 for the current period already and what about you ?Continue reading
Hello there dear Truckers, as you know the HVUT Form 2290 is an annual tax paid to the Internal Revenue Service every year on a vehicle which comprises a minimum gross weight of 55000 lbs or more and if the same truck is been used over the public highways for commercial, agricultural & logging purposes. In recent times we see a lot of our customers come up with questions relating to Form 2290 claims and who are eligible for it. We hope this blog covers those questions.
Now there are few claims that are supported in accordance with the Form 2290.
- Taxes Overpaid Credits.
- Suspended Vehicle Exceeds Mileage.
- Low Mileage Vehicle Credits.
Claims against Tax overpayment: When the taxes are paid for a respective vehicle more than once within the same tax year, then the excess paid amount can be claimed as a refund by filing the Claim Form 8849 Schedule 6, as a result, you will receive a refund check back from the IRS in 21 business days in your mailing address.
When the vehicle is Sold/Destroyed/Stolen: When the taxes are paid full in advance on a respective vehicle and if the subjected vehicle is Sold/Destroyed/Stolen a partial refund can be claimed via the Form 8849 Schedule 6.
Low Mileage vehicle credit: When the taxes are paid full in advance on a vehicle assuming it would go over 5000 miles or 7500 miles but if the truck remains under the mileage limit for exemption during the year, the IRS lets you claim a full refund by the following tax year.
It’s a pandemic out there and the nation needs more truckers as you’re the bloodlines that connect every nook and corner of our country. We see a lot of our customers trading in trucks and looking to transfer the credits. Now you know what to do and if further assistance is needed, please feel free to contact us at 347-515-2290 or just drop an email to email@example.com. Drive safe
Hello there dear truckers! With a grateful heart we write this to you, Thanks for all your support in supporting us for the past five years. We as a team feel grateful to all our loyal customers who file with us, as we commit towards best in offering services to you. Truckdues.com wouldn’t have become the most preferred service provider for economic filers if it wasn’t for you. Trust in us for we do the same, Words would never explain our gratitude toward the success that you have brought to us as a company.
We have been providing Form 2290 tax services starting at $7.99, which is the best pricing for a bundle of service you get. Though there are many competitors who provide services lesser than this, the support you get for the fee that you pay is limited when you compare to truckdues.com. What makes us stand apart from others then? In terms of support we offer assistance over the phone, chat and email as well which is not offered by any other service provider in the industry with best standards. Also when if you are not able to reach us do not worry, just leave us a voice mail you would receive an immediate response call within 5 minutes (in business hours) from our tax experts to address your form 2290 concerns. So what about after hours, not to worry you can leave us a voice mail or we have an option for offline chats where our representatives will reach you first thing as soon as we step in the next day.Continue reading
Hello there Truckers, over this article we are going to discuss on How to go about claiming a low mileage vehicle credit for trucks that are used quite inactively over the road. Most truckers are not really sure how to claim a refund on vehicles for which the taxes were paid full in advance during the beginning of the tax period.
The Low Mileage vehicle is basically claimed over trucks which were not used over the desired mileage for exemption during the end of the tax period. Almost on a daily basis, we receive queries from the HVUT tax payers saying that their trucks are not in service due to mechanical wear & tear, engine related issues, due to natural calamities etc.
Now if such occurrences happen when the Tax Form 2290 was already filed for the subjected vehicle, the owner of the vehicle must refer to the odometer reading to record the number of miles the truck has covered until the period it was reported. If that seems to be exceeding the desired mileage use of Exemption (5000 miles for Commercial based Units & 7500 for Agricultural based units) No further action is required from your end.
On the Contrary, if the subjected vehicles seems not to have exceeded the desired mileage use of Exemption (5000 miles for Commercial based Units & 7500 for Agricultural based units) then you are entitled to claim a full refund on the taxes paid on this vehicle. However, you will only be able to claim this refund after the current tax period officially ceases.
You may feel free to reach us back for further assistance during your e-filing process over the following mediums:
Phone: (347) 515-2290 [Monday through Friday, 9 A.M to 5 P.M, Central Standard Time]
Live chat with our tax representatives.
Have a Good One! See you over the next article.
Many truckers and trucking companies’ ends up making an overpayment towards their HVUT Form 2290 taxes due to various reasons likely, they would have been into the conventional way of paper mailing the Physical Form stapled with a payment and receives the proof of payment back in mail in a fortnight, however this doesn’t seem to be a trouble until it costs any individual owner operators or trucking firms an immediate registration. So, many truckers who anticipates a response beck from the IRS out of paper mail ends up e-filing too so there comes an over payment of taxes by both mediums. Continue reading