Finance Highway Trust Fund with your HVUT

Duties of a truck driver are delivery bound, so is the taxes they file through form 2290 for their heavy vehicles to the Federal Government. Through HVUT, you file your taxes which are transmitted to IRS and IRS in return, sends it to the Federal Funds Treasury. The amount is equivalent to these taxes and then transferred on paper to HTF (Highway Trust Fund), which established in the year 1956 to finance United States Interstate Highway System and other certain roads. The taxes collected out of filing form 2290 are for financing highways and roads across the nation. 

Most of the tax amount is not collected directly from the customer; the money is credited to the HTF’s highway account (one of the three accounts of HTF). They are instead paid to IRS by the producer or importer of the taxable product. 

Taxable Product Sources for HTF’s Income are:

• Gasoline
• Diesel
• Gasohol
• Special Fuels
• Tires
• Truck and Trailer Sales

Heavy Vehicle Use tax (In Form 2290, the taxable amount for the specific weight of the trucks are mentioned, Tax2290.com in return calculates and eliminates the headache of manual calculating

Fines and penalties imposed for violation of motor carrier safety requirements

Benefits for Nation’s Highways through HTF

The Federal Highway Trust Fund (HTF) finances the federal Highway program through fuel and other highway used taxes. Every fund collected is invested in our nation’s transportation, infrastructure and maintenance of the highways and roads. Directly or indirectly, HTF constructs and maintain the usage of public for,

• Saves life, money and time
• Reduction of crashes
• Ability of emergency responders are enhanced
• Lower fuel and insurance cost
• Increase mobility, ease congestion and decrease energy consumption
• Quality of the air is boosted
• Movement of good is efficiently improved
• Business productivity
• And finally, nation’s economic productivity is enhanced.

Everything you give comes back to you in another form. Your form 2290 was filed for heavy vehicle is coming back to you in the form of smoothen roads and neater environment. File your form 2290 today to limit your chances behind the bars or filing taxes if you don’t have filed it. Experience a hassle-free filing with tax2290.com and receive your schedule-1 copy in minutes. Contact us any day, anytime with your queries; we would solve them for you. We wish you a happy and safe journey behind the wheels.