We have come across this particular question from our owner-operators and self-employed drivers on almost a daily basis. So here we will go in-depth on how to transfer your 2290 to a new truck.How to Transfer Your 2290 to a New Truck?
When you replace your old vehicle, 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 the vehicle. If you need to file a Form 2290 refund claim, you will use Form 8849 Schedule 6. This is to request a refund from the IRS. The IRS will mail you a refund check within 4 to 6 weeks once your claim is accepted.
2290 Tax Transfer Instructions:
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
Step 1:
Login or create an account (it’s free!). If you’re new to ExpressTruckTax, quickly enter your name, business info, and EIN before you begin e-filing. Finally, click “Start New Return,” choose a Form 2290, and then enter your first-used month (the month in which you purchased the new vehicle).
Step 2:
Now to enter your taxable vehicle information (for the new truck). Input the VIN, gross weight, and select whether this is a logging vehicle.
Step 3:
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 reviewed your return, and if accepted you will receive your new stamped Schedule 1 via email.
Bonus Round: More Ways to Save!
If your previous truck was sold, stolen, or destroyed, and you are choosing not to replace it, then you can still get a prorated refund of the HVUT tax you paid! The procedure is different from the “transfer” process. To claim a prorated refund, you will need to e-file a Form 8849.
If your business name or EIN has changed, then you can also get a prorated 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 HUVT tax refund.