A right question in every trucker’s mind. Yes! You own the rights to ask. Your HVUT tax cures and heals the nation’s corridor, or so called roadways and highways. How important is the expressway which paves variety of merchandise and materials to pass on to the place you want to go. They are also the doorway for the public’s travel routine. You are the one who get much out these highways since you are lugging countless tons of goods every. Therefore, you are bonded to e-file IRS Tax Form 2290 as a lane to maintain these highway corridors. Continue reading
Tag Archives: Highway Trust Fund
Highway Trust Fund – a safe destination for your HVUT
Trucker duties are delivery bound. So are the taxes they pay for their heavy trucks, to the Federal Government. The HVUT returns you file and taxes that you pay get transmitted to the IRS safely and the IRS in turn returns it to the Federal Funds Treasury. the amounts equivalent to these taxes are then transferred on paper to the HTF, Highway Trust Fund, a transportation fund established in 1956 to finance the United States Interstate Highway System and certain other roads. The revenues of the HTF are intended for financing highways, with the taxes dedicated to the HTF paid by the users of highways. Most of the tax amounts credited to the HTF’s Highway account (one of the three accounts of HTF) are not collected by the Federal government directly from the consumer. They are, instead, paid to the Internal Revenue Service by the producer or importer of the taxable product, except like for HVUT which is paid by the owner. Continue reading