With every deadline comes more confusion.
You might think, “What are all these forms and payments, and why am I constantly dealing with them?”
Understanding HVUT, highway tax 2290, and IFTA tax will prepare you to file quickly each year and keep you from making filing mistakes.
HVUT
HVUT, or Heavy Vehicle Use Tax, is a tax on heavy vehicles used to fund highway maintenance.
Highway Tax 2290
Highway Tax 2290, or simply Form 2290, is the form used to pay your HVUT amount.
Form 2290 is also used to calculate the Heavy Highway Use Tax amount you owe, determine your truck’s category, claim an exemption or credit, and more.
IFTA Tax
The IFTA tax is not related to HVUT 2290 and Highway Tax 2290 Form. IFTA, or International Fuel Tax Agreement, ensures that each state/province is paid the correct IFTA fuel tax.
IFTA fuel tax becomes important when vehicles travel frequently across state borders. If trucks fill up in one state and immediately cross to the next, the state they’re driving in is losing out.
With IFTA reporting, truckers track miles in each state.
You need to pay IFTA fuel tax quarterly if your vehicle has 2 axles and a gross vehicle weight or registered gross weight > 26,000 pounds, has a combined weight of 26,000 pounds or has 3 or more axles regardless of weight.
How To Keep Up With Truck Taxes
The best way to pay these taxes is online. Cutting out paperwork saves time, and filing online allows you to keep a record of your previous filings.
With ExpressTruckTax, you can do it all. IFTA reporting, highway tax 2290, and HVUT are all in one place for your convenience.
