In the case that a vehicle is stolen or totaled within the course of a year, specific options and requirements will be necessary regarding the filing of such excise taxes as the IRS Heavy Vehicle Use Tax (HVUT) which is filed through Form 2290:

Paragraphs, Bullet Points, and Numbered Lists as follows:

Filing Adjustments for Stolen or Totaled Vehicles;

• If a vehicle was stolen, destroyed, or disposed of in any other manner in a particular tax year, the owner is not obligated to submit HVUT for the outstanding months in the tax year.
• A taxpayer who makes a tax payment can file for credit or a refund for the remaining balance he or she did not use.

The Process of Securing A Credit on Form 2290

• Complete a Form 2290 for the current year and make a claim for the remaining credits that have not been put to use since the vehicle was taken out of circulation.
• As it pertains to claiming a credit:
• Firstly, complete Part II, Line 5 of Form 2290 and submit it.
• Secondly, provide a cover statement that goes into detail on the subject matter as to why such a credit that includes;
• VIN number, the date of the incident (theft, total loss or destruction), proof files (insurance reports, police reports and so forth).

Completing Form 8849 to Request a Refund

• Conversely, you may use Form 8849 , Claim for Refund of Excise Taxes , as a form of compensation if no other new vehicles are being taxed in that particular tax year.
• Ensure that you include it in Schedule 6 (Other Claims) of the return for which the request is made.

Support with:

• Identification number of the vehicle in question.
• Proof of theft or any other loss.

The Period for Filing of Changes

Requests for a credit/refund can only be made within the time boundaries set which is usually within a span of 3 years counting from the time Form 2290 was supposed to be remitted or two years from the time the tax was paid, if this is later.

ntruders’ Vehicles for An All-Risk Insurance Replacement

If you have managed to replace stolen or smashed vehicle with another one:

• Then it becomes imperative that you fill out and submit Form 2290 for the new car.
• The given HVUT is prorated by the month that the new car ceases to be totally new.

Retentive Records

All documents surrounding the stealing or losing of the car should be kept and such documents include:

• Insurance claim forms & other documents payments were made.
• Police reports if available.
• Documents that proved that the car had been retired from active use.
• These documents and related ones should be kept for the period with effect from the day the documents were submitted. minimum of 3 years

Example Type

For those that filed Form 2290 in July for the truck that was wrecked in December:

• You may claim a credit for the remaining months (January – June).
• In case you substitute that truck with another one in January, fill out Form 2290 for the newly purchased truck and pay the tax for the period January to June on a prorated basis.

If you inquire, we will help you with some details of the filing or give you sample forms!

Note: For more information, visit IRS website