Overpayment Tax Credit by Mistake
An overpayment tax credit in tax liabilities are reported on Form 8849. The tax payer who paid the tax
to the government can make this claim. In order to receive a tax credit and refund for the overpayment
of excise tax through Form 8849, the filer must provide detailed information about the vehicle and the
date of overpayment. For instance, if the tax payer contains the proof for multiple transactions for the
same period, then it is used as the proof to the IRS. This could trigger the process to begin sooner and
it can help the IRS process the refund faster.
- Vehicle Identification Number (VIN)
- Date of over payment Tax
- Claim Amount
Sold / Destroyed / Stolen vehicle Credit / Transferred Vehicle Credit
Vehicles sold / destroyed / stolen before June 1 of any period between (July 1 - June 30) and which is
not used during the period, can be claimed with the Form 8849. The person in whose name the
vehicle(sold, destroyed or stolen) is registered can claim this tax refund. In order to make a claim for
a vehicle, which is sold, destroyed or stolen, the following details need to be attached along with the
Schedule 6.
- Vehicle Identification Number (VIN).
- Information whether the vehicle was stolen, destroyed or stolen.
- The date of the accident, sale or theft.
- The taxable gross weight category.
- Computation of the refund amount (see the Instructions for Form 2290, line 5, for reference).
- If the vehicle was sold on or after July 1st of the tax period, you must include the name and
address of the purchaser of the vehicle.
Low Mileage Vehicle Limit
If the taxed vehicle, which paid the tax on Form 2290, did not exceed 5,000 miles or less on the public
highways (7 ,500 miles or less for agricultural vehicles) during the tax period of July 1st through June
30th are eligible for a claim. This mileage limit is the total mileage of the vehicle, which is driven
during the tax period, regardless of the number of owners or drivers of the vehicle. All claims must be
filed after the tax period has ended.
- Vehicle Identification Number (VIN)
- Month first used and Year
- The taxable gross weight category.
Limitations of the Form 8849 Refund Claims
The Internal Revenue Code has a limit on the time in which a person can claim a refund for the
overpayment of the tax. The claim has to be filed within 3 years from the date a person filed the
original tax return.If a person does not make a claim, within two years of the date, then the person may
acquire a penalty.
Form 8849 Schedule 6
Schedule 6: Other Claims including the credit claim from Form 2290. When you file Form 8849 with tax
tax2efile you can request a refund of taxes paid on your 2290 for vehicles lost (sold, destroyed, stolen),
vehicles that did not exceed use beyond their tax-exempt miles, or duplicate payments you made in error.
Form 8849 does not remove a VIN from your stamped schedule 1, adjust the weight of a vehicle reported
incorrectly, or lets you use the refund amount as a credit on your 2290
Note: Do Not Use Form 8849
To claim amounts that
you took previously as a credit on Form 2290
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