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Easy Form 2290

Low Mileage Credit

The low mileage credit in Form 2290 is a benefit provided to taxpayers who use their heavy vehicles for lesser miles during the tax period. This credit allows for a reduced tax payment for vehicles that are expected to travel less than 5,000 miles (or 7,500 miles for agricultural vehicles) during the tax year.

How to Claim

To claim the low mileage credit on Form 2290, taxpayers must accurately report the expected mileage of their vehicles for the tax period. If the vehicle is used below the mileage threshold, the taxpayer can claim a credit on their tax payment based on the reduced mileage.

Accurate Records

It is important for taxpayers to maintain accurate records of their vehicle mileage to support their claim for the low mileage credit. This credit can help reduce the tax liability for heavy vehicles that are not expected to exceed the specified mileage threshold during the tax year.