How To Handle Overpaid Form 2290 Taxes? There are sometimes situations resulting in an “overpayment” of Heavy Vehicle Use Taxes, in which a credit is due. This can occur if your vehicle is stolen, destroyed or if the vehicle did not exceed 5,000 miles (7,500 miles for agricultural vehicles) during the tax period. Here we explain the process for claiming IRS Form 2290, Highway Heavy Vehicle Use Tax credit for the following scenarios:
You can take credit for the vehicle if it was stolen, destroyed or sold before June 1 and not used during the remainder of the period, or
Used during the prior period 5,000 miles or less (7,500 miles or less for agricultural vehicles).
A credit, lower tax, exemption, or refund does not allow for an occasional light or decreased load or a discontinued or changed use of the vehicle. What that means is if you filed your IRS Form 2290 at 80,000 lbs, but had occasions where you operated at a lower weight class, that will not qualify you for a credit. If you used your vehicle for only a portion of the tax year, you will qualify for the credit If you did not exceed 5,000 miles (7,500 miles for agricultural vehicles). If you did travel more than 5,000 miles (7,500 miles for agricultural vehicles) then you will NOT qualify for the credit.
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