A common question our Support Team at ExpressTruckTax gets is how to handle the situation when a vehicle is transferred to another company during the tax year. Assuming the Form 2290 was filed and the tax was paid for the current year, you would need to file a new Form 2290 under the new business name and EIN. On the return, you will be able to claim the refund for the taxes that were paid under the previous business name and EIN. You will need to call the IRS directly and they will walk you through the process or you can have a service provider, like Truck Services of North America to do it for you.
NOTE: The Form 2290 must be filed no later than the end of the month following when the transfer took place. Example, if you formed a new business and the vehicles began operating under the new business name in February, your Form 2290 would have to be filed no later than March 31st. If you file after March 31st, the return will be considered late and you may incur penalty fees.
For more information or to get started today, visit ExpressTruckTax.com or contact our Express Tax Support Center in Rock Hill, SC at 704-234-6005 or email us at support@ExpressTruckTax.com. We have Spanish Support too!