Our friends over at ExpressTruckTax tell us that this is a frequently asked question during Form 2290 filing season. So to help our owner-operators here is how to transfer Form 2290 to your new truck.
How To Transfer Form 2290 From My Old Truck?
When you get a new truck, you will use Form 2290 to adjust the credits. You will report your new vehicle for a pro-rated tax period based on when you first used your new truck. If you need to file a Form 2290 refund claim, you will use Form 8849 Schedule 6. This is a request form and once submitted it will take approximately four to six weeks for you to receive your refund.
2290 Tax Transfer Instructions:
Head on over to ExpressTruckTax and start your Form 2290 filing.
1. E-File a new Form 2290
2. Claim a Credit Vehicle on that form
3. Receive your new Stamped Schedule 1 via email instantly
Login or create an account or if you are new to ExpressTruckTax, quickly enter your name, business information, EIN, and VIN before you begin e-filing. Finally, click “Start New Return,” choose Form 2290, and then enter your first-used month.
Now to enter your taxable vehicle information. Input the VIN, gross weight, and select whether this is a logging vehicle.
Enter Credit Vehicle details. Click “+Add a Credit Vehicle,” enter the VIN & gross weight, then enter details of the “loss event.” Enter the date on which the vehicle was sold, lost, or destroyed. You will also upload any required evidence, like a bill of sale or police statement.
Input your payment method, and then hit ‘transmit.’
The IRS will have to review your return, and if accepted you will receive your new stamped Schedule 1 via email.
Form 2290 Filing Now Available
If your previous truck was sold, stolen, or destroyed, and you are choosing not to replace it, then you can still get a pro-rated refund of the HVUT tax you paid! The procedure is different from the “transfer” process. To claim a pro-rated refund, you will need to e-file a Form 8849.
If your business name or EIN has changed, then you can also get a pro-rated refund for the taxes paid under the previous name/EIN. E-file a new Form 2290 for all vehicles under this new name or EIN. Then e-file a Form 8849 under the old name/EIN to receive your HVUT tax refund.