Form 8849-Claim Your Credits and Refunds
November 10, 2021
Claim Your Credits and Refunds.
Many individuals in the trucking business may not be aware of how the IRS considers their vehicle usage when filing their taxes. The IRS provides guidelines on form 8849, which is what you will need to fill out in order to claim your credits and refunds. There are many factors involved in how the IRS defines a qualified vehicle, such as the miles driven and the type of vehicle. Once you’ve calculated the amount you owe, it’s important to understand that you can request either a refund or credit towards your taxes. You may want to file for a credit if you feel like you owe too much and request a refund if you think you may not owe anything. It’s always a good idea to consult an accountant or contact simpletrucktax.com to get more information.