Tag Archives: heavy highway vehicles use tax

What is Vehicle Identification Number (VIN)?

Form 2290, Heavy Vehicle Use Tax has to be reported for a vehicle weight 55,000 lbs or more. each vehicle is identified by a vehicle number.

The VIN of your vehicle can be obtained from the registration, title, or actual vehicle. Generally, the VIN is 17 characters made up of numbers and letters. Be sure to use the VIN for the vehicle and not from the trailer.

The Vehicle Identification Number will not contain the alphabets “I”, “O” “Q” for some administrative reason, please ignore using the same. Cross check if you find these alphabets, you might have read wrong.

The VIN is very important to report your Form 2290 taxes with IRS. Every vehicle is identified by the VIN.

By mistake if a have reported a wrong VIN in the original Form 2290 then you are suppose to fix it by filing an 2290 amendment for VIN correction. Yes, it can be now filed electronically [e-file]. We offer this service for the 2290 users. Apart from reporting VIN correction, you have the option to report increase in gross weight from original 2290 reporting and increase in mileage limit from original Form 2290 reporting.

Vehicle used less than the mileage use limit. If the tax has been paid for a period on a vehicle that is used 5,000 miles or less (7,500 miles or less for agricultural vehicles), the person who paid the tax may make a claim for the credit.

We at www.Tax2290.com made the Form 2290 e-filing experience a hazel free one. It is as easy as 1-2-3!!!

Try for Free today and pay only when you e-file/print. No up front charges like other efile providers.

 

Refund Claims Form 8849…

Generally you can claim for Refund of Excise Taxes using the Form 8849. Use Schedules 1, 2, 3, 5, and 8 to claim certain fuel related refunds such as nontaxable uses (or sales) of fuels. Form 8849 lists the schedules by number and title.

www.TaxExcise.com now supports efiling claims for all the Schedule in Form 8849. Get instant TEXT alert on the status of your refund return. Continue reading →

Are you putting your Heavy Vehicle for Sale?

Putting your Truck Sales for Sales?

If you sell a heavy vehicle while under suspension, a statement must be given to the buyer and must show the seller’s name, address, and EIN; VIN; date of the sale; odometer reading at the beginning of the period; odometer reading at the time of sale; and the buyer’s name, address, and EIN. The buyer must attach this statement to Form 2290 and file the return by the last day of the month following the month the vehicle was purchased.

If, after the sale, the use of the vehicle exceeds the mileage use limit (including the highway mileage recorded on the vehicle by the former owner) for the period, and the former owner has provided the required statement, the new owner is liable for the tax on the vehicle. If the former owner has not furnished the required statement to the new owner, the former owner is also liable for the tax for that period.

Who Can Take a Credit for Federal Tax Paid On Fuels?

Final purchasers, and in some cases, ultimate vendors of certain types of fuels may be able to claim a refund or credit for the federal excise tax that applies on the fuel if it is for specific nontaxable uses, such as on a farm, for off-highway business use, for commercial fishing, in certain types of intercity, local, and school buses, and for exclusive use by a non-profit educational organization.

A credit can be taken for U.S. federal Income tax purposes for certain non-taxable use of fuels.  This credit can be claimed on Form 4136, Credit for Federal Tax Paid on Fuels, filed with the annual federal income tax return.  Certain taxpayers may be entitled to claim a periodic refund for the federal excise tax on fuels, by filing Form 8849, Claim for Refund of Excise Taxes.  A credit can also be claimed on Schedule C of Form 720, Quarterly Federal Excise Tax Return, if a liability for excise taxes is reported on that form. Continue reading →