If you are paying the Heavy Use Tax (IRS Form 2290) and plan to sell your truck during the tax period, you can apply for a credit – meaning you’ll get a pro-rated portion of the tax back.
Sold Truck Credit:
In previous years, you had to pay the $550 tax and if you sold your truck during the tax period, you did not get anything back. You could provide the form to the person you sold the truck to so that they didn’t have to pay the tax in addition to what you already paid. But once you paid the tax, your money was gone. Continue reading