Alright, truckers. We have always been talking about paying taxes to IRS and blah blah. Lets flip the story- IRS paying you!
That’s right, in some instances, you may claim a refund of your excise tax by efiling IRS Form 8849 with Schedule 6.
Oh yes, this would sound Greek and Latin for you, TaxExcise is here to make it easy to efile for a refunds and your money back faster.
Before we proceed with the “how” thing, let’s talk about “why” first. What are the instances do you qualify for a refund of heavy vehicle used tax paid.
- If your heavy vehicle was sold, stolen, or destroyed before June 1st (the end of the HVUT tax year). In any of these events, the tax will be prorated based on the date of the qualifying event. We wont leave your side, just yet. TaxExcise would do all- the pro-rating math for you!
- If your vehicle traveled too few miles during the tax year, you are qualified for a refund. Like, if you traveled 5,000 miles or fewer on public highways during the tax year (7,500 if it’s an agricultural vehicle), you can file a refund claim through TaxExcise. This credit is not prorated; as thus, you will simply receive a full refund of the taxes paid at the end of the tax year. (Yes, you have to wait until July 1st to E-file for this refund to prove that you did not hit the mileage limit after all.)
- Last but not the least, if you have overpaid your heavy vehicle use tax by either: filing for the incorrect number of trucks, selecting the wrong first-used month on your Form 2290, or you chose an incorrect, higher category weight for the vehicle. Pro-rated refunds are issued in all three of these cases.
(Note: Refunds for lower gross vehicle weight will only be issued if the vehicle remains in that lower category for the entire tax year. There are no partial refunds for temporary reduced weight.)
We discussed about the scenarios where you can claim a credit, however, let’s face the cases, a refund is not applicable:
- If you are operating at a low gross vehicle weight than initially reported, or occasionally, light or decreased load might make you lose some weight (and save on the mileage!) does not warrant a refund of excise tax.
- If you have used your vehicle, only part of the year. How often you used the vehicle or how many months it was in use do not matter if you exceeded the 5,000 mile limit (7,500 for agriculture). Refunds will only be issued if the vehicle drove less than the mileage limit during the tax year.
Do you fit into any of the scenarios? If yes, come over and efile your credit with Taxexcise.com. You can also ask for instant support from our Tax Experts while efiling. We are one call away. Reach us 1-866-245-3918 or email us your queries to support@taxexcise.com. You can expect instant answers from our end.