ExpressTruckTax Blog

Showing posts with label sold vehicle. Show all posts
Showing posts with label sold vehicle. Show all posts

Thursday, March 3, 2016

Sold a Vehicle? This Is How You Get Credit

So you bought a new truck this year, and you sold your old one. We know you love riding around in that brand new shiny rig—I mean, who wouldn’t?

But the ghost of your old truck is still hanging around, haunting you at every turn. All that time and money you spent, gone. Oh wait, that’s not a ghost, that’s just the old heavy vehicle use tax you paid before you sold that truck. Can you get that back?

Sure, in a sense—you can claim a credit with ExpressTruckTax. How do you go about claiming credit for a sold vehicle? Just e-file Form 8849, Claim for Refund of Excise Taxes!

What is Form 8849?

If you filed Form 2290 on a vehicle you’ve since sold, filing Form 8849 Schedule 6 will get you credit for the sold vehicle. If your truck was stolen, or destroyed, or maybe you didn’t realize it was exempt, you can file Form 8849.

What do you need for Form 8849?

Anybody who needs to claim a refund can claim it with Form 8849. Remember, you need to have already paid your heavy vehicle use taxes before selling the vehicle to qualify. First, you need your correct name and address. Next, you need your EIN and the vehicle information you are claiming a refund for. Since you are filing because the vehicle was sold/stolen/destroyed, you will need the date the event occurred.

Say it in English

Well, when you sell a vehicle that already has the HVUT paid, the vehicle is covered until the end of the month of purchase. From then on, it’s up to the new owner to pay the vehicle’s HVUT. But as the seller, you simply need to e-file Form 8849 to claim your credit.

Remember to remind the buyer that heavy vehicle use taxes DO NOT transfer from one owner to another. They’re required to file Form 2290 and pay taxes on any qualifying rig.

Basically, as a seller you can be credited for the taxes you paid before you sold the vehicle, and the buyer owes the difference. As a seller, there are two ways to approach the credit. You can get the credit for the tax paid on your next Form 2290 filed, or the refund can be claimed through Form 8849, if you don’t want to wait until the tax period ends. If you’re reading this, something tells me you want your credit now!

If you’re confused, our legendary customer support team is here to answer your questions. Remember to follow us on Twitter and Facebook to keep up with the latest trucking news and upcoming deadlines!

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Wednesday, August 29, 2012

How to Handle a Suspended Vehicle That is Destroyed

When you have a suspended vehicle that is destroyed at some point during the year, how do you report that to the IRS? Since there was no tax paid the previous year, you would not have to report the vehicle as being destroyed to the IRS.

If the vehicle had been sold or transferred, it would then need to be reported as a ‘Prior Year Suspended Vehicle’ that was sold/transferred.  You will need the name of the person/business you sold/transferred it to and the date.

If you have a taxable vehicle that was destroyed during the tax year, you would want to make sure that you report that vehicle as destroyed to the IRS for two reasons. First, if you do not report it as destroyed, the IRS will assume you owe the tax on it and you could risk a penalty for not filing.  The other reason is when you file it destroyed, you will be able to claim a refund for the months that you had previously paid for, but it was not used.

Our tax experts at ExpressTruckTax can help you with this question and more.  Or check out our FAQ’s to find answers to your specific situation.  E-File Form 2290 and receive your Stamped Schedule 1 within minutes at

Friday is the deadline so to E-File the Form 2290 online now, go to If you have any questions, contact our friendly US based customer support center in Rock Hill, SC at 704-234-6005 or email us at

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ExpressTruckTax Blog

E-file your HVUT Form 2290 with ExpressTruckTax.