Running a trucking company in 2026 is more than just keeping your wheels turning—it takes precise financial management. Although the IRS Form 2290 is more commonly known as the means by which you pay your Heavy Highway Vehicle Use Tax (HVUT), it is also the means by which you can recover money if your fleet changes.

The best way to ensure that you are not being charged for use that never occurred is by claiming an HVUT credit. Regardless of whether you have downsized a rig or overestimated your mileage, this is how you can reclaim your capital.

Qualifying Scenarios for a Form 2290 Credit

The IRS does not simply dispense refunds; you have to qualify under certain conditions based on the status of your taxable vehicles during the tax year. There are three main "trigger events" that qualify you for a credit:

• Sold, Stolen, or Destroyed: If a vehicle was taken out of your inventory before the end of the term, you are eligible for a prorated tax credit for the remaining months.
• Low Mileage Realization: If you have already paid the full tax amount for a truck but it remained below the mileage use limit (5,000 miles for commercial or 7,500 miles for agricultural), you can get a refund of the full amount.
• Overpayment Errors: In case you mistakenly chose the incorrect taxable gross weight or submitted the same return twice, you can make an overpayment correction through a credit.

The Low-Mileage Loophole: Claiming for the Previous Year

Among the most popular methods of claiming an HVUT credit is through the "Low Mileage" provision. However, it is essential to note that timing is everything. Since the IRS cannot verify your mileage until the end of the tax year on June 30th, you cannot claim this particular credit during the middle of the tax year.

• The Wait Period:You have to wait until the first IRS Form 2290 filing of the next year (after July 1st) to claim the credit for a vehicle that remained below the threshold.
• Documentation: It is necessary that you keep accurate mileage records as part of your audit-ready documentation in order to show that the vehicle was not exceeding the limit.

How to Apply the Credit Directly to Your Return

The most efficient way to get your money back is to apply it to your current tax liability. There is a specific line on the IRS Form 2290 for credits. Line 5 is specifically designated for credits.

When you use an IRS-approved e-file provider, the system will ask you to input the VIN number and the reason for the credit. The software will then calculate the pro-rated amount of the tax refund and subtract it from your current balance.

Technical Limitation: The amount of credit you can claim cannot exceed the total tax liability due on the current return. For example, if you are eligible for a credit of $600 but owe only $550 for your new truck purchase, you cannot claim the full credit on Form 2290.

Credit vs. Refund: When to Use Form 8849

If you are not adding new trucks and do not have any tax to offset, or if your credit exceeds the amount you owe, you require a refund claim rather than a credit. This is accomplished through Form 8849 (Schedule 6).

Scenario	Best Filing Method	Outcome
Offsetting a new truck	Form 2290, Line 5	Immediate discount on current tax.
Selling a truck with no replacement	Form 8849	IRS mails a check to your business.
Fleet liquidation	Form 8849	IRS mails a check to your business.

Data Integrity: Documentation for a Seamless Claim

The IRS is very vigilant about credit claims to avoid identity theft and fraud. To avoid delays in your stamped Schedule 1, you are required to provide the following data points:

• VIN Verification: The Vehicle Identification Number must be exactly the same as in the original filing.
• Date of Event: The exact date of the sale, theft, or destruction of the vehicle.
• Buyer Information: When filing for a sold vehicle, you are usually required to state the name and address of the buyer in order to remain IRS compliant.
• Math Accuracy: Credits are determined on a monthly basis. For instance, if a truck is sold in January:
  Credit = Annual Tax x (Remaining months / 12)

Securing Your Stamped Schedule 1 with Credits

Filing a credit will not hold up your receipt of a stamped Schedule 1 for your other vehicles, as long as you are using a current e-filing system. The IRS MeF system will process your entire package, including your credit, at the same time, so you will have a good proof of payment for your registration renewals without spending a dime.

Note: For more information, visit IRS website