Hello there Truckers, the HVUT Form 2290 is an annual tax paid to the Internal Revenue Service every year on 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.
If the respected vehicle is used over the desired mileage limit for exemption as in 5000 miles for Commercial & Logging based units & 7500 miles for Agricultural based units then the vehicle turns out to be taxable vehicle and the tax due payment needs to be paid to the Internal Revenue Service full in advance.
On the other hand, if the subjected vehicle seems to be used under 5000 miles for Commercial & Logging based units & 7500 miles for Agricultural based units then the vehicles are considered to be Suspended/Exempt vehicle where the tax due is not imposed on such vehicles, however these vehicles needs to be reported on the Form 2290 in order to claim an exemption from the IRS.
Now there are few claims that are supported in accordance to the Form 2290.
- Taxes over paid credits.
- Suspended vehicle Exceeds Mileage.
- Low Mileage Vehicle Credits.
Claims against Tax over payment: 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.
In case you got any questions on how to go about claiming a refund on your Form 2290, reach our Tax expert help-desk @ (347) 515-2290 Monday through Friday [9. AM through 5 PM CST] also to address your queries, our tax expert team is extending their support even during weekends up until 08/31/2019. God Bless America!