When you are filing Form 2290 with ExpressTruckTax, and if your tax credits are higher than the HVUT for the current tax year, you cannot use those credits to pay your taxes. The auto-generate Form 8849 feature will directly lead you to file Form 8849 and to claim the tax credits.
If a filer has any tax credits remaining from the previous filings, those credits can be used to pay the HVUT while filing a Form 2290 for the current year. But these credits cannot be used if the tax credits are higher than the HVUT. To claim these credits, you have to file Form 8849.
The auto-generate feature in ExpressTruckTax will automatically generate Form 8849, and the information entered in your Form 2290 will be copied to this form. This way, the user does not have to re-enter the information in this form. The tax credit to be claimed will also be calculated accurately, so you do not need to worry about the calculations.
The auto-generate Form 8849 is very beneficial for the filers as this feature will clear a lot of confusion among the filers. Here are some of the benefits of the auto-generate Form 8849 feature:
While filing Form 2290 for multiple vehicles, you are required to enter information about the current year vehicles and the credit vehicles. If the tax credit of the credit vehicles is higher than the HVUT for the current year vehicles, you cannot use the tax credits to pay your HVUT.
In this case, Form 8849 will be generated automatically, and the information you provided about the credit vehicles will be copied from your Form 2290 to Form 8849. This makes things quicker and more comfortable for you. The tax calculations will also be done automatically. All you have to do is to check the form for any errors and transmit it to the IRS.